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News
28.10.2010
Tangibal Group Plc Investment in World Top Technologies Limited
Tangibal Group Plc Investment in World Top Technologies Limited
The Board of Tangibal Group Plc (“Tangibal”), the Frankfurt quoted interactive and experiential media company, announces that its wholly-owned subsidiary, Tangibal Ventures Limited has acquired 14% of World Top Technologies Limited (“WTT”), which has been set up to fund development of the innovative Ridercam on-ride video capture system.
WTT, which is majority owned by Ravi Sumra, has acquired Media Invest Limited, a company which Tangibal had previously agreed to acquire for £280,000 in cash and shares. Tangibal is also injecting into Media Invest Limited an agreement with Qualex, Inc., a subsidiary of Kodak Corporation, to develop an on ride video system for use in a theme park in California, which will be funded by WTT.
As part of the agreement with WTT, Tangibal Ventures has been contracted by Media Invest to provide project management for the Californian theme park project and also be reimbursed in respect of costs incurred in relation to the development of Media Invest and the Ridercam systems.
Peter Evans of Tangibal commented “We are delighted that WTT will fund the rollout of Ridercam, initially in the theme park sector, and are delighted to be shareholders alongside Ravi Sumra, who is an experienced technology investor and manager. Together we believe that we can further develop Ridercam’s technology, which is already best in class.”
About Tangibal Group:
Formed in 2008, Tangibal Group Plc has established itself as a vision leader and investor in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate.
Contact: Peter Evans – peter.evans@tangibal.com
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as
otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Tangibal Group Plc
Bermuda House
45 The High Street
Hampton Wick
Kingston upon Thames
Surrey
KT1 4EH
UK
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The Board of Tangibal Group Plc (“Tangibal”), the Frankfurt quoted interactive and experiential media company, announces that its wholly-owned subsidiary, Tangibal Ventures Limited has acquired 14% of World Top Technologies Limited (“WTT”), which has been set up to fund development of the innovative Ridercam on-ride video capture system.
WTT, which is majority owned by Ravi Sumra, has acquired Media Invest Limited, a company which Tangibal had previously agreed to acquire for £280,000 in cash and shares. Tangibal is also injecting into Media Invest Limited an agreement with Qualex, Inc., a subsidiary of Kodak Corporation, to develop an on ride video system for use in a theme park in California, which will be funded by WTT.
As part of the agreement with WTT, Tangibal Ventures has been contracted by Media Invest to provide project management for the Californian theme park project and also be reimbursed in respect of costs incurred in relation to the development of Media Invest and the Ridercam systems.
Peter Evans of Tangibal commented “We are delighted that WTT will fund the rollout of Ridercam, initially in the theme park sector, and are delighted to be shareholders alongside Ravi Sumra, who is an experienced technology investor and manager. Together we believe that we can further develop Ridercam’s technology, which is already best in class.”
About Tangibal Group:
Formed in 2008, Tangibal Group Plc has established itself as a vision leader and investor in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate.
Contact: Peter Evans – peter.evans@tangibal.com
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as
otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Tangibal Group Plc
Bermuda House
45 The High Street
Hampton Wick
Kingston upon Thames
Surrey
KT1 4EH
UK
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B5KMXN41">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B5KMXN41</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.