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Catcha Media clarifies obligations reduced by RM25m
by hlk Fri 12 Aug 2011, 12:22
KUALA LUMPUR: Catcha Media Bhd has clarified that its obligations with Microsoft have been reduced by RM25 million over 2011 to 2014 under the amendments to the strategic alliance agreement.
A senior official of Catcha Media told The Edge FinancialDaily on Friday, Aug 12: “We have not reduced our targets, but rather the obligations of the business. This is a positive thing. Note also, our prospectus does not have any forecasts included, but merely notes that there are commercial obligations in terms of payments to Microsoft."
“It is these obligations that have been reduced by RM25 million over 2011 to 2014, not our forecast.
“Further, the other amendments to the agreement are all in favour of Catcha Media. Our agreement with Microsoft is now more beneficial to Catcha Media than it previously was,” he said
A senior official of Catcha Media told The Edge FinancialDaily on Friday, Aug 12: “We have not reduced our targets, but rather the obligations of the business. This is a positive thing. Note also, our prospectus does not have any forecasts included, but merely notes that there are commercial obligations in terms of payments to Microsoft."
“It is these obligations that have been reduced by RM25 million over 2011 to 2014, not our forecast.
“Further, the other amendments to the agreement are all in favour of Catcha Media. Our agreement with Microsoft is now more beneficial to Catcha Media than it previously was,” he said
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