30 Nov 2018 13:21
St Peter Port Capital Limited ("the Company")
Update on Stream TV
The Company has received copies of press releases issued by Stream TV Networks, Inc ("Stream TV") and by BOE, a major Chinese manufacturer of panels for TV and digital screens. The Company holds an interest in Stream TV through an investment in a holding company, Mediatainment, Inc.
The press releases announce that BOE and Stream TV have finalised partnership arrangements, previously announced as heads of terms. The parties confirm that their strategy is to promote ultra-high definition displays, with one focus on 5G applications. They plan to promote 8K resolution screens and to deploy Stream's capabilities for 3D TV without glasses ("Ultra-D"), to popularise 4K and to replace 2K screens. They plan, in due course, to launch this technology for TV's, monitors, notebooks, tablets, mobile phones and commercial displays.
BOE's digital panels using Stream's Ultra-D technology were shown to leading companies, who have expressed interest in releasing products using Ultra-D.
The Company is not in a position to comment on whether the ambitious plans BOE and Stream TV have announced are likely to have a material impact on Stream TV's sales in the near term.
For further information:
St Peter Port Capital Limited
Lynn Bruce, Director
+44 (0) 1481 724 222
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett
Jamie Barklem
+44 (0) 20 7383 5100