1 June 2024 · Corporate Update

Board approves expanded media services framework for European markets

The Board of Directors of Kashmir Limited has approved an expanded framework for the group’s media services division, establishing structured protocols for engagement with European broadcast and content commissioning organisations. The framework builds on initial relationships developed through the group’s existing content portfolio and formalises the Cyprus-based coordination model for managing cross-border media partnerships.

The approved framework covers contract administration procedures for broadcast licensing agreements, revenue recognition protocols aligned with IFRS requirements, and quality assurance standards for commissioned content delivered to European public and commercial broadcasters. The centralised coordination from the group’s Larnaca headquarters ensures consistent governance across all media services activities.

The media services division represents a strategic diversification of the group’s revenue base beyond its established publishing and hospitality operations. The Board noted that the European media landscape presents significant opportunities for a Cyprus-based intermediary with established relationships across multiple jurisdictions and content categories.

The Board has authorised management to pursue initial engagements under the new framework, with quarterly progress reviews scheduled to monitor relationship development and revenue pipeline growth across target markets.