HONG KONG, Aug. 28, 2017 /PRNewswire/ -- China Cord Blood
Corporation (NYSE: CO) (the "Company") today announced that Magnum
Opus Second (PTC) Limited, an entity holding ordinary shares on
behalf of certain directors and members of senior management, has
adopted a 10b5-1 sales plan to sell up to 2,275,700 ordinary shares
from time to time in ordinary brokerage transactions, primarily to
meet the individuals' personal needs.
Under the Company's corporate trading policies, a 10b5-1 sales
plan is recommended for directors and members of senior management
in order to comply with insider trading principles and reduce the
possibility of opportunistic selling by management. In accordance
with such sales plan, the trustee intends to sell up to an
aggregate of 2,275,700 ordinary shares over time, representing
approximately 1.9% of the Company's total outstanding shares as of
August 2017.
Rule 10b5-1 allows corporate insiders to establish prearranged
written plans to buy or sell a specified number of shares of
company stock over a predetermined period of time. Insiders may
adopt such plans when they are not in possession of material inside
information in order to gradually change their investment portfolio
to minimize the market effects of significant stock sales or
purchases by spreading them out over an extended period of time and
to avoid concerns about initiating stock transactions while in
possession of material nonpublic information.
Any sales by the Company's insiders may also be made in
privately negotiated transactions, in block trades or other legally
permissible ways from time to time depending on market conditions
and in accordance with applicable rules and regulations.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses.
Under current PRC government regulations, only one licensed cord
blood banking operator is permitted to operate in each licensed
region and no new licenses will be granted before 2020 in addition
to the seven licenses authorized 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.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: william.zima@icrinc.com
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SOURCE China Cord Blood Corporation