BEIJING, Feb. 1, 2019 /PRNewswire/ -- AirMedia Group
Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market, today announced
that its Chairman, Chief Executive Officer and Chief Financial
Officer Herman Man Guo had
continuously proceeded with his share purchase plan (the "Share
Purchase Plan"), which was previous announced by the Company on
March 28, 2018 and updated on
September 28, 2018. As of
January 30, 2019, Mr. Guo had
purchased an aggregate of 1,724,922 American depositary shares
(ADSs) over the period of Dec. 7,
2018 to Jan. 30, 2019 at an average purchase price of
approximately US$0.35 per ADS. Due
to the restrictions on insider trading starts on January 31st, 2019, Mr. Guo would
temporarily stop his repurchase from January
31st, 2019 till 48 hours after the Company files
its 2018 Form-20F.
About AirMedia Group Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is
an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market. AirMedia sells
advertisements on the routes operated by several Chinese airlines
and also has concession rights to operate the Wi-Fi systems on
trains administered by several railway administrative bureaus in
China. For more information,
please visit http://www.airmedia.net.cn.
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's business
strategies and initiatives as well as the Company's business plans;
the Company's future business development, results of operations
and financial condition; expected changes in the Company's revenue
and certain cost or expense items; trends and competition in
China; general economic and
business conditions in China; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
Director, Investor Relations
AirMedia Group Inc.
SOURCE AirMedia Group Inc.