SEC Form 17-A: Annual Report - the solid group inc website

7
• Distributoship Agreement with Sony Corporation
Solid Video Corporation has a non-exclusive Distributor Agreement with Sony Corporation of
Hong Kong Limited (Sony HK), a corporation organized and existing under the laws of Hong
Kong. Under the agreement , SVC was designated by Sony HK as its non-exclusive distributor
of Sony products in the Philippines. In addition, SVC shall provide the customers in the
Philippines with repair and parts replacement services, including but not limited to repair and
parts replacement services rendered by SVC which are covered under the 12 month warranty
period at its own costs and expenses.
• Exclusive Distribution Agreement with Yahgee Modular House Co., Ltd.
SolidGroup Technologies Corporation (SGTC) has an exclusive Distribution Agreement with
Yahgee Modular House Co., Ltd. , a corporation organized and existing under the laws of the
People’s Republic of China on June 10, 2011. Under the agreement, SGTC is designated as the
exclusive distributor of its products under the MyHouse brand in the Philippines. The agreement
is valid for three years.
• Agreement with Sky Cable Corporation
On May 11, 2012, the Solid Broadband Corporation (SBC) entered into an agreement with Sky
Cable Corporation covering the sale, assignment and transfer of its assets, equipment, contracts,
permits, licenses and subscriber base of SBC used in the operation of its broadband business.
SBC received the amount of P1 billion as consideration for this transaction.
In addition, Sky Cable Corporation assumes to pay SBC all cost and expenses in connection with
use and operation of the assets, until the Company's operation is transferred to Sky Cable
Corporation.
• Management Agreement with Sky Cable Corporation
For continuity of services to subscribers, SBC and Sky Cable Corporation agreed that the
management and administration of the Assets be entrusted to Sky Cable Corporation pending the
approval of the National Telephone Commission (NTC) of the assignment of the Assets.
Sky Cable Corporation, as the manager of the Assets, was given the overall power and
responsibilities to handle all aspects necessary to carry out the administration and operations of
the Assets and SBC, to accord the necessary additional authorizations, should the need arise.
The Management Agreement shall remain in effect until December 31, 2013. If NTC’s approval
is not obtained by December 31, 2013, the terms of the Management Agreement shall be
automatically renewed for two years from such date and thereafter automatically renewed for
another two years from the end of term of its renewal, until the Management Agreement is
terminated.
The Management Agreement shall be automatically terminated on the date NTC approves the
transfer of the Assets in favor of Sky Cable Corporation.