◆NowNews Digital Media Technology Co. Ltd. (NDMT) Completed Share Exchange with Worldwide Media Investments Corp.
Taipei City, Taiwan—Nov.14, 2014— NowNews Digital Media Technology Co. Ltd. (“the Company”) (OTCQB: NDMT), a Nevada corporation, announced today that it completed a Share Exchange Agreement pursuant to which all of the capital stock of Worldwide Media Investments Corp., an Anguilla corporation (“Worldwide”) were exchanged for shares of common stock of the Company on a one-for-one basis (the “Share Exchange”), making Worldwide a wholly owned subsidiary of the Company.
Worldwide, through its wholly owned subsidiary, Sky Media Investments Co., Ltd. (“Sky Media”), owns 66% of the issued and outstanding capital stock of NOWnews Network Co., Ltd., a Taiwan corporation (“NOWnews”), which is a digital media company engaged in production, collecting and distribution of news and information through its website and applications on mobile devices. Immediately following the closing of the Share Exchange, the Company had a total of 22,412,000 issued and outstanding shares of common stock. As a result of the Share Exchange, Worldwide and Sky Media become the Company’s wholly owned subsidiaries and NOWnews is now the Company’s majority owned subsidiary.
"We are excited that the transaction has completed," said Alan Chen, Chairman of the Company, "NOWnews is the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. We are very pleased to acquire the business of NOWnews and have confidence in its future operation and development, as well as the future performance in the capital market.”
About NowNews Digital Media Technology Co. Ltd.
NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT) is a U.S.-listed holding company, through its subsidiaries, engaging in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets.
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