Linmon Media (09857.HK): signs Tencent game adaptation framework agreement

NewTimeSpace News: Linmon Media Limited (09857.HK) announced on October 23 that it entered into the Game Adaptation and Derivatives Development and Joint Development Cooperation Framework Agreement with Shenzhen Tencent Computer Systems Company Limited (for itself and on behalf of the Represented Tencent Group), for the period from October 23, 2026 to December 31, 2027.

According to the announcement, the Group will cooperate with the Represented Tencent Group on copyrights in respect of the literature works, film and television works and/or other IP content in which it holds rights, and/or grant certain copyrights, including joint development rights to jointly exercise game adaptation rights and the grant of derivative product development rights, for the development, adaptation, production, promotion, distribution and operation of games and related derivative products, with the Represented Tencent Group paying the relevant cooperation/licensing fees.

The announcement said that the annual caps for income under the agreement are RMB15 million for the period ending December 31, 2026 and RMB30 million for the year 2027. Tencent Mobility, a wholly-owned subsidiary of Tencent, holds approximately 18.87% of the Company, making the transactions continuing connected transactions with the highest applicable percentage ratio exceeding 0.1% but below 5%, subject to reporting, announcement and annual review requirements but exempt from circular and independent shareholders' approval.