Today I received answers from FMCN IR for a few questions. The following is that Q & A:
Me:I have followed FMCN for the past year and have a significant investment in common shares. I’m sure you have received many emails since the Conference Call. I have a few questions:
Q1. When the restructuring of CGEN gets approved by the board, will there be a press release or will it wait until the 4Q earnings call? Typically such news has been released when it occurs.
IR A 1: Yes, we will have an announcement to update investors regarding exactly what we're going to do and how much it is going to affect our financials once the restructuring plan gets finalized and approved by the board.
Q2. Will there be any board presentation concerning use of cash for additional buybacks or for accelerating the current plan?
IR A2: No, we do not have such plan so far.
Q3. How may I get news about the CCTV auction? Is this a good indication of trends for your business?
IR A3: In fact, the CCTV auction just ended on Nov 18, which reported a very positive result, say, a 15% revenue increase YoY. Yes, it may be a good indication of trends for our business.
I didn't ask anything about ALLYES because I knew they couldn't say anything while the IPO is in the construction phase.