Hainan White Horse Advertising Media Investment Company Limited, a non-wholly-owned subsidiary of Clear Media (00100.HK), has entered into a concession agreement with Beijing Tian Bao Ren Jie Advertising Company Limited (Beijing Tian Bao) to acquire from Beijing Tian Bao the rights to develop, manage and sell advertising space on approximately 700 main electric advertising panels at certain bus shelters in Beijing granted by Beijing Public Transport Advertising Company Limited for the period from 15 December 2011 to 31 March 2022, Clear Media said.

The total consideration for the main advertising panels is estimated at RMB77 million (HK$94 million). The final consideration will be determined based upon the actual number of main advertising panels at the bus shelters.