SkyCable executes Asset Purchase Agreements with Destiny Cable, Solid Broadband and Uni-Cable TV

On May 11, 2012, an Asset Purchase Agreement was executed by and between Destiny Cable, Inc. (DCI) and Sky Cable Corporation (SKY), a subsidiary of the Registrant's subsidiary, Sky  Vision Corporation, wherein the parties agreed that DCI shall sell, transfer and convey to SKY all of DCI's assets used in its business of constructing, maintaining, and operating community antennae television systems for public and commercial purposes, at a purchase price of Two Billion Four Hundred Three Million Four Hundred Twenty One Thousand Three Hundred Fifty Four Pesos (PhP2,403,420,354.00). On the same date, an Asset Purchase Agreement was also executed by and between Solid Broadband Corporation (SBC) and SKY, wherein the parties agreed that SBC shall sell, transfer and convey to SKY all of SBC's assets used in its business of operating commercial telecommunications facilities, coastal stations for ships-at-sea, aeronautical stations for aircraft in flight, television and broadcasting stations, and other telecommunications services, at a purchase price of One Billion Pesos (PhP1,000,000,000.00). - https://www.affordablecebu.com/