Media Asia Group Holdings Limited announced that on 30 April 2021 the Company (as licensee) entered into the 2021 Music Catalogue Distribution Agreement with Capital Artists Ltd., East Asia Music (Holdings) Limited and Fortunate Sound Limited (as licensor) to renew the Original Music Catalogue Distribution Agreement, pursuant to which the Company was appointed as the distributor of and licensed with the rights to distribute the Works and the Karaoke Music Videos in the PRC for a period of three years. The principal terms of the 2021 Music Catalogue Distribution Agreement are summarised as follows: Term: three years from 1 April 2021 to 31 March 2024, Territory: the PRC, Distribution service: in respect of the rights licensed by the Licensor, the Company shall provide: distribution service of the Works and the Karaoke Music Videos in physical configurations and electronic transmission medium; marketing support service; and any additional service at charge in addition to the Distribution Fee upon mutual agreement with the Licensor in writing. Licensed rights: to do all acts which the Licensor is entitled to do pursuant to the copyright laws in the PRC in relation to the Works and the Karaoke Music Videos, including: sole and exclusive rights to distribute, make available, sell, advertise, market and exploit the Works and the Karaoke Music Videos; right to issue, rent, lend and show copies to the public; right to copy onto a secure computer server of the Company in the PRC and the right to exploit via transmission, distribution, dissemination or making available by any means; right to use all materials and information related to the Works and the Karaoke Music Videos provided by or on behalf of the Licensor in connection with the distribution of the Works and the Karaoke Music Videos; and right to grant a sub license to any person or corporation provided that the Company will remain responsible to the Licensor for all the acts, omissions and neglects of the sublicensee. The Company may permit the sublicensee to grant a further sub license to one or more sub sub licensee(s) provided that the Company shall procure that the sublicensee remains responsible to the Company for all the acts, omissions and neglects of such sub sub licensee(s). Distribution Fee: in consideration of the Company providing the services to the Licensor in accordance with the terms contained in the 2021 Music Catalogue Distribution Agreement, the Company will be entitled to retain 15% of the Gross Revenue as the Distribution Fee. Payment: the Company shall provide quarterly statements to the Licensor setting out, among others, the proceeds for the relevant calendar quarter, which is determined by deducting from the Gross Revenue: the Distribution Fee; all taxes, costs and expenses incurred by the Company or its dealers, which have been prior agreed between the Company and the Licensor or as permitted under the 2021 Music Catalogue Distribution Agreement; and any other deductions (if applicable).