Spackman Entertainment to offload loss-making Studio Take for US$1, books US$1.95 million disposal gain
Summary:
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Spackman Entertainment Group agreed to sell 100% of its indirect subsidiary Studio Take Co., Ltd. to veteran producer Shin Kyung Chul for a token cash consideration of US$1.
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Despite the nominal price, the group expects a disposal gain of about US$1.95 million, as Studio Take sits in a net liability position of roughly US$1.95 million as at 30 September 2025.
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The buyer will assume all of Studio Take’s debts and liabilities at closing, relieving the group of substantial distressed debt tied to underperforming film assets.
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Core film production and investment functions will be transferred to wholly owned Take Pictures, with key producer Song Dae-chan remaining in the group as Director of Take Pictures and Chief Producer.
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The transaction is classified as a disclosable transaction under Catalist rules and is expected to strengthen the group’s balance sheet, boosting NTA per share from 1.17 to 1.31 Singapore cents and turning a small loss into a positive EPS on a pro forma FY2024 basis.