WILTON Group has agreed to buy Hong Kong-based Noble Investment, the beneficial owner and holding company for the Ng family's cable and satellite television interests in Asia, for an undisclosed amount.
Wilton will issue 85 million new ordinary shares at 1.75 pence each to Clive Ng, deputy-chairman of Wilton and a significant shareholder in the company.
Wilton closed in London on Friday at a high for year of two pence.
Wilton will also repay outstanding loans of up to US$920,000 made to Noble by the Ng family.
Noble executive chairman William Ng will retain his position and it is proposed that Wilton issue him options for more than 60 million shares at three pence each.
Noble owns 184,000 ordinary shares in Bangkok-listed International Broadcasting Corp (IBC), which operates a cable television network in Bangkok with more than 100,000 subscribers.
