ABS-CBN-TV5 and SKY Cable-Cignal terminate their Purchase and Sale Agreement

Sky Vision Corporation (“Sky Vision”), ABS-CBN Corporation (“ABS-CBN”), Lopez, Inc. (“Lopez, Inc.”), and Cignal Cable Corporation (“Cignal Cable”) disclosed to the PSE and SEC that they have mutually agreed to terminate the Sale and Purchase Agreement dated August 10, 2022.

The Debt Instruments Agreement dated August 10, 2022, covering the proposed subscription by Cignal Cable to an Exchangeable Debt Instrument to be issued by Sky Vision and the proposed acquisition by Cignal Cable of a Convertible Note issued by Sky Cable, and the Sale and Purchase Agreement, covering the proposed acquisition by Cignal Cable of 38.88% equity interest in Sky Cable Corporation.

Both the Investment Agreement dated August 10, 2022, which outlined ABS-plans CBN’s to purchase 34.99% of TV5’s equity, and the Convertible Note Agreement dated August 10, 2022, which outlined ABS-plans CBN’s to subscribe to a Convertible Note issued by TV5, have been terminated per the parties’ mutual agreement.

A Memorandum of Agreement was used to formally record the terminations as well.

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