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CONTINUED
Alan Scott, Esq.
21st February, 1981
We understand that it will be the intention of the consortium of three Australian companies to change the name of Glasham and to increase its capital.
It is intended that Glasham will be represented on the Board of Directors of RTV and that the Directors which it appoints will be actively concerned with the management and operation of RTV's television station.
The present intention is that Mr. Leon T. Hill, referred to in the Aide Memoire, who is a senior David Syme executive, will move to Hong Kong to work with the current Managing Director of RTV, Mr. Steve Huang, full time on the affairs of RTV.
There is also an agreement in principle between RHK and Glasham for the sale of the share capital of the company which owns Television House at No. 81, Broadcast Drive, and This agreement is, of course, conditional upon the sale and purchase of the shares of RTV referred to above.
The agreements between RTV and Glasham are subject to a number of conditions including, in particular, the consent of the Television Authority and all other necessary Hong Kong Government consents under the Television Ordinance, Chapter 52.
We are not, at this moment, able to provide you with any more background information about Glasham and the Australian consortium, but we understand that their Hong Kong solicitors, Messrs. Baker & McKenzie, are in the process of compiling
11 the information which you will eventually need in order for the Television Authority and the Hong Kong Government to make the appropriate decisions under the Television Ordinance. We will, of course, supply you with any information about the Australian consortium which we receive from Messrs. Baker & McKenzie.
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Yours faithfully,