BANGKOK, Nov 18, 2014 - (ACN Newswire) - SET-listed 'lifestyle out-of-home media' market leader VGI Global Media PCL (VGI; SET:VGI) will share the management of advertising space within Tesco Lotus stores in Thailand with Tesco Lotus itself once VGI's current contract expires in February next year.
Tesco Lotus CEO Mr. John Christie confirmed today that final agreement has been reached with VGI whereby a Tesco Lotus subsidiary will manage advertisement for all the Sales-floor space in accordance with the policy of Tesco's UK-based parent company while VGI will be granted the rights to manage all the non Sales-floor space after the expiration of the current contract.
In addition to the non Sales-floor space which includes the parking lots, VGI will also be given the rights to manage new Pylon Signs to help compensate VGI for any loss of revenue, Mr. Christie stated.
VGI Chief Executive Officer (CEO) Mr. Marut Arthakaivalvatee welcomed the new mutually-beneficial arrangement, saying that VGI will continue to derive respectable revenue from the Modern Trade Media segment.
The latest arrangement which is considered a win-win for both VGI and Tesco Lotus has come after recent media reports that DunnHumby might take over all of Tesco Lotus' advertisement space after VGI's current contract expires in February 2015.
About VGI Global Media PCL
VGI Global Media Public Company Limited (SET:VGI) is Thailand's major provider of out-of-home media solutions, having more than 10,000 items of large still-image screens in the BTS skytrain network and large retail stores nationwide. It also has over 11,000 sq.m. of advertising space in the product display zones of large modern trade stores, as well as about 5,000 items of digital screens and media in the BTS platform and train areas, the Tesco Lotus, Big C, and Watson stores, and large office towers throughout Bangkok, and mega LED and outdoor led screens under its management. In addition, the company runs retail shops in 23 BTS stations and radio networks covering nearly 2,000 modern trade stores in Thailand. For more information, please see www.vgi.co.th.
Source: VGI Global Media PCL
Contact:
VGI Global Media PCL Investor Relations Department Tel: +66-2273-8636; +66-2273-8639 E-mail: ir@vgi.co.th MasterMind Communications Co Ltd Orn-arong ("Fah") Pattaravejkul Tel: +66-2612-2081 #129 Mobile: +66-8-6884-4458 E-mail: orn_tabo@hotmail.com
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