Press Releases
 
FOR IMMEDIATE RELEASE
15 September 2017
 
Shareholding Change of i-CABLE Communications Limited

 

i-CABLE Communications Limited ("i-CABLE") today announced the completion of the Open Offer and the Loan Capitalisation. About HK$704 million (before expenses) of new funds, which came from the Open Offer, has been injected to strengthen i-CABLE's balance sheet.

Forever Top (Asia) Limited has become a controlling shareholder of i-CABLE. Tan Sri Dato' David Chiu ("Mr. Chiu") and Dr. Henry Cheng have been appointed as Chairman and Vice-chairman of i-CABLE's Board of Directors (the "Board") respectively.

The other new Board members include Dr. Adrian Cheng, Mr. Patrick Tsang, Mr. Cheong Thard Hoong as Non-executive Directors, Mr. Andrew Chiu as Executive Director, and Mr. Jeffrey Lam as Independent Non-executive Director.

Mr. Chiu said, "we are delighted to enter the next phase of development of i-CABLE. Over the years, i-CABLE has become a household name, synonymous with pioneering a wide spectrum of family entertainment and information platforms, and effectively revolutionising the industry. It changed consumer behavior by providing options, and created a more sophisticated market, by giving value and control to consumers."

"The management team will continue the spirit that i-CABLE was developed upon, and push innovation boundaries. We shall build our core through innovation, initiation and integration, and commit to give value back to our customers," Mr. Chiu stressed.

"We will strengthen the quality of our content and services, as well as better leverage i-CABLE's extensive fibre core network to develop new business opportunities. We will explore new media content distribution strategy and partnership with content providers to enhance our product offerings," Mr. Chiu added.

 


About i-CABLE Communications Limited

i-CABLE is an integrated communications services provider in Hong Kong, commanding a large and influential television viewer and communications service user base in town. It owns and operates a near universal wireline telecommunications network in Hong Kong to provide Television, Broadband, Telephony and multimedia services to customers. It is also one of the largest producers of television, film and multimedia content in Hong Kong for distribution over conventional and new media, with a focus on news, information, sports and entertainment.

Having operated for well over 23 years, Hong Kong Cable Television Limited is a reputable brand in Hong Kong providing multi-channel pay TV service with recognition from stakeholders. The newly launched Fantastic TV Limited delivers quality free TV programmes catered for family viewing, spanning local and Asian dramas, lifestyle and leisure programmes, travelogues, news and public affairs programmes as well as award-winning movies, bringing Hong Kong viewers the endless joy of information and entertainment.

 
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