[ET Net News Agency, 13 September 2018] Alibaba Pictures (01060) said its consolidated
subsidiary Zhejiang Dongyang has agreed to sell the online dissemination rights of the
movie titled as "Legend of the Ancient Sword" to Youku Technology, an indirect subsidiary
of Alibaba Group Holding (AGH).
The total consideration for the disposal of the movie is initially set at RMB14 million
and will increase as the movie's total box office revenue in the PRC grows, subject to a
maximum of RMB50 million.
The net proceeds for the disposal of the movie will be between RMB12.005 million and
RMB42.875 million. The group intends to utilize the net proceeds towards its general
working capital. (SC)