London, United Kingdom, January 12, 2009
Debondo Capital Inc. has disclosed a 10.38% stake in Playbox (US) Inc. (Stock Code: 72811U 101), according to a Schedule 13D filing submitted to the U.S. Securities and Exchange Commission. This announcement was triggered by Debondo Capital Inc. surpassing the regulatory 5% shareholding threshold, with a current direct holding of 5,623,006 shares of common stock (par value US$0.001), out of the total 54,186,299 shares outstanding as of January 12, 2009.
According to the filing, the share acquisition resulted from a settlement agreement and general mutual release dated November 19, 2008, under which Debondo Capital Inc. received 5,623,006 restricted common shares from Playbox (US) Inc. at a valuation of US$224,920.24. These shares were issued in lieu of cash as settlement for a debt owed to Debondo Capital Inc. stemming from a series of working capital loans and advances provided to Playbox (US) Inc.
Debondo Capital Inc., based in London, United Kingdom, is primarily engaged in consultant and investment services. The firm presently has no definitive plans to exert control over Playbox (US) Inc. or to make substantial changes to the company’s board of directors or strategic direction. Any prospective adjustments to its shareholding, such as acquisitions or disposals, will be determined by factors including prevailing market conditions and relevant securities regulations.
