HONG KONG, July 15 /PRNewswire-Asia-FirstCall/ -- China Cord
Blood Corporation (NYSE: CO; "the Company") today announced the
cancellation of its nine million management incentive warrants
plan, which was approved prior to the business combination in 2008.
The Company took this action to further align executive
compensation with shareholder interests. In return, the Company may
consider a more conventional scheme to reward its management team
for their outstanding performance in the forthcoming year.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood
Corporation, commented, "We have exceeded our target to grow the
subscriber bases by 30% in the past two years and are committed to
increase our subscriber base by no less than 30 percent, or at
least 58,000 new subscribers in fiscal year 2011. After considering
the dilutive impact to our shareholders under the nine million
management incentive warrant plan, we decided to cancel such plan
and are considering having a more conventional scheme to align
management interests with shareholders."
Ms. Zheng concluded, "We believe management interests are in
line with shareholders and our outstanding performance is the best
way to reward our shareholders."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and the largest cord
blood banking operator in China in
terms of geographical coverage and is the only cord blood bank
operator with multiple licenses. Under the current PRC government
regulations, only one licensed cord blood bank operator is
permitted to operate in each licensed region and only six licenses
have been issued as of today. China Cord Blood Corporation provides
cord blood collection, laboratory testing, hematopoietic stem cell
processing, and stem cell storage services. For more information,
please visit our website at http://www.chinacordbloodcorp.com .
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, performance and
results of operations, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
contained in statements filed from time to time with the Securities
and Exchange Commission. All such forward-looking statements,
whether written or oral, and whether made by or on behalf of the
company, are expressly qualified by the cautionary statements and
any other cautionary statements which may accompany the
forward-looking statements. In addition, the company disclaims any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: +852-3605-8180
Email: ir@chinacordbloodcorp.com
ICR, LLC
In New York:
Ashley M. Ammon or Christine Duan
Tel: +1-646-277-1227
In Beijing:
Wen Lei Zheng
Tel: +86-10-6599-7968
SOURCE China Cord Blood Corporation