SINGAPORE (May 7): Spackman Entertainment Group announced that its board has approved the spin-off of its 51%-owned subsidiary, Novus Mediacorp and its wholly-owned subsidiary, Frame Pictures, and for the combined entity to seek listing on the Catalist Board of the Singapore Exchange (SGX).

The group has appointed RHT Capital as the financial adviser in relation to the proposed spin-off and the issue manager and full sponsor in relation to the proposed listing.

The group believes that this move shall allow the combined entity of Novus Mediacorp and Frame Pictures to independently raise the capital necessary to unlock the full potential of its operations and projects, and to capitalise on the rapidly growing post-theatrical and camera equipment leasing markets.

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