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News
Jaguar Acquisition Corporation
Announces New
Chief Financial Officer and President for China Cablecom Ltd.
CONSHOHOCKEN, PA--(MARKET WIRE) –
February 4, 2008 – Jaguar Acquisition Corporation (OTC BB:
JGAC.OB, JGACW.OB), a special purpose acquisition company ("Jaguar"),
today announced that China Cablecom Ltd. ("China Cablecom"),
an emerging consolidated cable network operator in the highly-populated
Shandong province in the People's Republic of China (PRC) which
signed an agreement and plan of merger with Jaguar on October
30, 2007, has named Colin Sung as Chief Financial Officer and
President. Additionally, Mr. Sung has resigned from China Cablecom’s
Board of Directors.
Previously, Mr. Sung, age 43, was Chief
Financial Officer for Linktone Ltd. (NASDAQ: LTON), a leading
provider of wireless interactive entertainment services to consumers
and of advertising services through new and traditional media
channels in China. Prior to this position, Mr. Sung served as
Corporate Controller of UTi, United States, Inc., a subsidiary
of UTi Worldwide Inc. (NASDAQ: UTIW), which is a global integrated
logistics company. Additionally, he served as Vice President of
Finance and Corporate Controller at USF Worldwide, Inc., a subsidiary
of Chicago-based USF Corporation (also known as USFreightways
Corp.), a transportation industry leader, and as Vice President
and Corporate Controller of the U.S. operations of Panalpina,
Inc., a freight forwarding and logistics company. Mr. Sung is
a Certified Public Accountant and has a Bachelor of Science degree
from William Paterson University and a Master of Business Administration
degree from American InterContinental University.
Colin Sung will be based in China, but
will travel to the U.S. periodically throughout the year for shareholder
and investor activities and conferences. He will report directly
to Mr. Clive Ng, China Cablecom’s founder and Executive
Chairman.
“With more than 10 years of finance
and accounting leadership and experience in various industries
and public companies, Colin’s successful track record makes
him a valuable asset for our company,” stated Clive Ng.
Colin brings a wealth of experience in the U.S. public markets,
including comprehensive corporate communications with the investment
community at large. We look forward to leveraging his skill set
as China Cablecom continues to pursue its future growth plans.
ABOUT JAGUAR ACQUISITION CORPORATION
Jaguar Acquisition Corporation is a special
purpose acquisition company formed in June 2005 for the purpose
of acquiring, through a merger, asset acquisition or other similar
business combination, or controlling, through contractual arrangements,
an operating business.
In April 2006, Jaguar Acquisition Corporation
raised $28.3 million and its common stock and warrants began trading
separately on June 26, 2006. Pursuant to the terms of its IPO
documentation, the management team has until April 13, 2008 to
complete a business combination. Jaguar Acquisition Corporation's
principal offices are in Conshohocken, Pennsylvania. On October
31, 2007, Jaguar Acquisition Corporation signed an Agreement and
Plan of Merger that will result in the acquisition of the issued
and outstanding shares of China Cablecom Ltd., a British Virgin
Islands company.
ABOUT CHINA CABLECOM
China Cablecom is a joint-venture provider
of cable television services in the People's Republic of China,
operating in partnership with a local state-owned enterprise authorized
by the PRC government to control the distribution of cable TV
services ("SOE"). China Cablecom acquired operating
rights of the network it currently operates in Binzhou, Shandong
Province in September 2007 by entering into a series of asset
purchase and services agreements with a company organized by SOEs
owned directly or indirectly by local branches of SARFT in five
different municipalities to serve as a holding company of the
relevant businesses. Binzhou Broadcasting operates a cable network
with 442,900 paying subscribers as of September 30, 2007. China
Cablecom's strategy is to replicate the acquisition by operating
partnership models in other municipalities in Shandong Province
in the PRC and then introducing operating efficiencies and increasing
service offerings in the networks it has acquired.
China Cablecom's website is www.chinacablecom.net
Safe Harbor Statement
Any forward-looking statements are not guarantees of future performance
and actual results of operations, financial condition and liquidity,
and developments in the industry may differ materially from those
made in or suggested by the forward-looking statements contained
in this press release. These forward-looking statements are subject
to numerous risks, uncertainties and assumptions. The forward-looking
statements in this press release speak only as of the date of
this press release and might not occur in light of these risks,
uncertainties, and assumptions. Jaguar Acquisition Corporation
undertakes no obligation and disclaims any obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
In connection with the pending transaction, China Cablecom Holdings,
Ltd. ("China Cablecom Holdings") has filed with the
SEC a Registration Statement on Form S-4, which includes a Proxy
Statement/Prospectus for the stockholders of Jaguar Acquisition
Corporation. The stockholders of Jaguar Acquisition Corporation
are urged to read the Registration Statement and the Proxy Statement/Prospectus,
when it is available, as well as all other relevant documents
filed or to be filed with the SEC, because they will contain important
information about China Cablecom Holdings, Jaguar Acquisition
Corporation and the proposed transaction. The final Proxy Statement/Prospectus
will be mailed to stockholders of Jaguar Acquisition Corporation
after the Registration Statement is declared effective by the
SEC. Jaguar stockholders will be able to obtain the Registration
Statement, the Proxy Statement/Prospectus and any other relevant
filed documents for free at the SEC's website (www.sec.gov). These
documents can also be obtained for free from Jaguar Acquisition
Corporation by directing a request Eight Tower Bridge, Suite 1050,
161 Washington Street, Conshohocken, Pennsylvania 19428.
Investor Relation Company Contact
Hayden Communications International,
Inc.
Ted Haberfield, Executive VP
Phone: +1-760-755-2716
E-mail: thaberfield@HCInternational.net
Alan Sheinwald
Phone: +1-914-669-0222
E-mail: Matt.Hayden@HCInternational.net
Contact:
China Cablecom Limited
Clive Ng
Phone: +1-212-888-8890
Email: clive@chinacablecom.net
Web Site: www.chinacablecom.net
Jaguar Capital Partners
Jonathan Kalman
Phone: +1-610-825-0288
E-mail: jkalman@jaguar-capital.com
Web Site: www.jaguar-capital.com
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