/24-7PressRelease/ - LONDON, UK, September 22, 2006 - Upstream Asia Limited ("Upstream"), the leading Asia Pacific focused corporate and marketing communications services network, is to be listed on the London AIM via a reverse takeover of listed cash shell Raven Capital Inc ("Raven").
Upstream was named Asia's New PR Consultancy of the Year in 2001 by Media magazine. Since then, Upstream has grown to include offices in Beijing, Hong Kong, Shanghai, Singapore and Taipei, together with franchises in Tokyo and Sydney. Upstream is well positioned to meet Asia's growing demand for branding and communications services, especially in China where the next generation of global brands is emerging and where it is imperative that multinationals secure their market positioning.
Increased spending by Chinese consumers on branded goods and travel, the competition in market sectors opened to multinational companies by China's accession to WTO, and the upcoming 2008 Olympics in Beijing are among the factors driving demand for Upstream's corporate, technology and consumer communications services.
The listing is expected to be approved by an extraordinary general meeting of Raven shareholders on October 13, 2006.
Including a placing of 500,000 (approximately US$900,000) worth of shares at 20p per share, the enlarged group will have a market capitalization of approximately 26.7 million (nearly US$50 million). Upon listing, Raven will change its name to Upstream Marketing and Communications Inc. and adopt a new ticker symbol on AIM.
"Our listing will help expand the offering we can make to clients and give us access to capital for accelerated growth," said David Ketchum, Upstream's CEO.
"Upstream is in the right places, with the right services, at the right time," Ketchum said. "We are well positioned to capture market share in China and to create a unique holding company focused on high growth markets and sectors, built through organic growth and by acquiring a series of complementary public relations, communications, digital marketing and advertising firms to integrate into the Upstream network."
About Upstream:
Founded in 2000, Upstream is a full service marketing and corporate communications network positioned to help companies make the most of business opportunities in the Asia Pacific region. Upstream has offices in Beijing, Hong Kong, Shanghai, Singapore, Sydney, Taipei and Tokyo, as well as regional and global affiliates. Key practice areas include technology, corporate & financial, and consumer & travel. For more information, please visit
www.upstreamasia.com
Andrew Regan's investment company Corvus Capital Inc currently owns 25.04 per cent of the issued ordinary share capital of Raven Capital Inc.
Press contact:
David Ketchum, Tel: +852 2973 0222, e-mail:
david@upstreamasia.com
John Bick, Tel: +44 (0)870 389 6999, Mobile: +44 (0)7917 649362
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