TAIPEI, April 17, 2015 /PRNewswire/ -- GigaMedia Limited
(NASDAQ: GIGM) today announced that the Company completed a
disposal of securities investment during the period between
April 13, 2015 and April 15, 2015 on Taiwan open market through block sales. The
total selling price is slightly higher than the investment cost.
The transaction has resulted in an increase of approximately
US$ 18 million in the Company's cash
position and has the effect of enhancing its working capital.
About GigaMedia
Headquartered in Taipei,
Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is
a diversified provider of online games and cloud computing
services. GigaMedia's online games business is an innovative leader
in Asia with growing game
development, distribution and operation capabilities, as well as
platform services for games; focus is on mobile games and social
casino games. The company's cloud computing business is focused on
providing enterprises in Greater
China with critical communications services and IT solutions
that increase flexibility, efficiency and competitiveness. More
information on GigaMedia can be obtained from
www.gigamedia.com.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2014.
For further information contact:
Amanda Chang
Investor Relations Department
Country/City Code 8862 Tel: 2656-8080
amanda.chang@gigamedia.com.tw
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SOURCE GigaMedia Limited