BEIJING, May 10 /PRNewswire-Asia-FirstCall/ -- AirMedia
Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), a leading
operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers,
today announced that Herman Guo, its
chairman and chief executive officer, will transfer 13,000,000
ordinary shares of AirMedia in his ownership, which are equal to
6,500,000 ADSs of AirMedia, to an award pool that will be used for
a three-year share incentive plan. This new share incentive plan
and future grants under it will not affect the Company's total
number of shares outstanding.
The new share incentive plan is designed to retain and
incentivize AirMedia's management and other key staff members, as
well as to attract other industry talent to join the Company.
Awards will be granted under the plan based on periodic evaluations
of participants' performance and achievement of their targets. The
details of the share incentive plan will be decided on and approved
by AirMedia's board of directors.
"Our media expansion in recent years, especially during the
economic downturn in 2009, has further strengthened our leading
position in the air travel advertising sector and extended our
media network to other advertising platforms, including gas
stations and certain outdoor advertising media in urban areas,"
remarked Herman Guo, chairman and
chief executive officer of AirMedia. "Our human capital is one of
the most valuable assets of the Company, which is also crucial for
the Company's future growth. Our new share incentive plan is
designed to assure that the interests of our key personnel continue
to be aligned with the Company's growth, which will benefit the
Company and our shareholders."
About AirMedia Group Inc.
AirMedia Group Inc. (Nasdaq: AMCN) is a leading operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers.
AirMedia operates the largest digital media network in China dedicated to air travel advertising.
AirMedia operates digital TV screens in 36 major airports,
including 26 out of the 30 largest airports in China. AirMedia also operates digital frames
in 32 major airports, including the 15 largest airports in
China. In addition, AirMedia sells
advertisements on the routes operated by eight airlines, including
the three largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards and
light boxes, and other digital media, such as mega LED screens.
In addition, AirMedia has obtained exclusive contractual
concession rights until the end of 2014 to develop and operate
outdoor advertising platforms at Sinopec's service stations located
throughout China.
For more information about AirMedia, please visit
http://www.airmedia.net.cn .
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "confident" and similar statements. Among
other things, the quotations from management in this announcement,
as well as AirMedia Group Inc.'s strategic and operational plans,
contain forward-looking statements. AirMedia may also make written
or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about AirMedia's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to: if advertisers or
the viewing public do not accept, or lose interest in, our air
travel advertising network, we may be unable to generate sufficient
cash flow from our operating activities and our prospects and
results of operations could be negatively affected; we derive most
of our revenues from the provision of air travel advertising
services, and any slowdown in the air travel advertising industry
in China may materially and
adversely affect our revenues and results of operation; our
strategy of expanding our advertising network by expanding into
traditional media and building new media platforms may not succeed,
and our failure to do so could materially reduce the attractiveness
of our network and harm our business, reputation and results of
operations; if our customers reduce their advertising spending or
are unable to pay us in full, in part or at all for a period of
time due to an economic downturn in China and/or elsewhere or for any other
reason, our revenues and results of operations may be materially
and adversely affected; we face risks related to health epidemics
such as the H1N1 flu, which could materially and adversely affect
air travel and result in reduced demand for our advertising
services or disrupt our operations; if we are unable to retain
existing concession rights contracts or obtain new concession
rights contracts on commercially advantageous terms that allow us
to operate our advertising platforms, we may be unable to maintain
or expand our network coverage and our business and prospects may
be harmed; a significant portion of our revenues has been derived
from the five largest airports and three largest airlines in
China, and if any of these
airports or airlines experiences a material business disruption,
our ability to generate revenues and our results of operations
would be materially and adversely affected; our limited operating
history makes it difficult to evaluate our future prospects and
results of operations; and other risks outlined in AirMedia's
filings with the U.S. Securities and Exchange Commission. AirMedia
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For further information, please contact:
AirMedia Group Inc.
Raymond Huang
Investor Relations Director
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
IR Inside
Caroline Straathof
Tel: +31-6-54624301
Email: info@irinside.com
SOURCE AirMedia Group Inc.