Following a trading halt on July 14, the manager of Asian Pay Television Trust (APTT) announced that that the National Communications Commission of Taiwan (NCC) has rejected the proposed transaction for Da Da Digital Convergence to acquire a 65% stake in its sole shareholder, Dynami Vision.
Da Da Digital is controlled by Dai Yung Huei, the founder of Taiwan-listed Dafeng TV. Araedis Investment, an associate of Da Da Digital, has been increasing its stake in APTT. To date, it has acquired a direct interest of more than 16% in the units of APTT.
The NCC’s decision will not have an impact on the operations and cash flows of APTT or TBC, nor the distribution guidance of 1.0 Singapore cent per unit for 2021.
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