ATV Holdings' Subsidiary Forced to Sell Approximately 690 Million Shares

Stock News

May 14

ATV HOLDINGS (00707) announced that it has been informed that approximately 690 million ordinary shares of its indirect subsidiary, Asia Television Limited (ATV), were sold by a receiver on behalf of a creditor to Prestige Media Limited (a company incorporated in the British Virgin Islands) for approximately HK$200 million on November 14, 2025 (the "Forced Sale"). As of the date of this announcement, the Company's Board of Directors does not have sufficient information or documentation to assess the asset status of ATV or the financial and operational impact of the Forced Sale on the Group. The Company will continue to make inquiries and obtain further information and documents regarding the above matters. The Company is seeking legal advice on whether the Forced Sale complies with all applicable laws and the terms of relevant agreements. The Company will take all necessary legal actions to protect the interests of the Group as and when appropriate and necessary. Furthermore, trading in the Company's shares remains suspended.

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As of the date of this announcement, the Company's Board of Directors does not have sufficient information or documentation to assess the asset status of ATV or the financial and operational impact of the Forced Sale on the Group. The Company will continue to make inquiries and obtain further information and documents regarding the above matters. The Company is seeking legal advice on whether the Forced Sale complies with all applicable laws and the terms of relevant agreements. The Company will take all necessary legal actions to protect the interests of the Group as and when appropriate and necessary. 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