SHANGHAI, June 1 /PRNewswire-Asia/ -- Shanda Interactive
Entertainment Limited (Nasdaq: SNDA, "Shanda" or the "Company"), a
leading interactive entertainment media company in China, today
announced that its Board of Directors has approved a share
repurchase program. Under the share repurchase program, the Company
is authorized to repurchase up to $200
million worth of its outstanding American Depositary Shares
("ADSs") representing the ordinary shares of the Company from time
to time, depending on market conditions, share price and other
factors, as well as subject to the memorandum and articles of
association of the Company, the relevant rules under United States securities laws and regulations
and the relevant stock exchange rules. The share repurchases may be
made on the open market, in block trades or otherwise and is
expected to include derivative transactions. The program may be
suspended or discontinued at any time.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
Statements in this announcement that are not historical facts,
including but not limited to statements regarding the
implementation of the share repurchase program, the Company's
anticipated repurchase of ADSs, and the amount of ADSs the Company
intends to repurchase represent only the Company's current
expectations, assumptions, estimates and projections and are
forward-looking statements. These forward-looking statements
involve various risks and uncertainties that could cause actual
results to be materially different from expectations, including but
are not limited to whether the Company is able to enter into
agreements relating to the share repurchase program, and the risks
set forth in the Company's filings with the U.S. Securities and
Exchange Commission, including the Company's annual report on Form
20-F. The Company is providing this information as of the date of
this news release and does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
About Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited (Nasdaq: SNDA)
("Shanda") is a leading interactive entertainment media company in
China, offering a broad array of online entertainment content on an
integrated service platform to a large and diverse user base.
Shanda offers its high quality entertainment content through its
subsidiaries and affiliates, including Shanda Games, Shanda Literature, Hurray!, and
various other online community and business units. The broad
variety of content ranges from massively multi-player online
role-playing games (MMORPGs) and advanced casual games, to chess
and board games, e-sports, literature, film, television, mobile
ringtones and music, etc. By providing a centralized platform
through which Shanda can deliver its own content as well as
third-party content, Shanda allows its users to interact with
thousands of other users while enjoying some of the best
entertainment content available in China today. Shanda:
"Interaction enriches your life". For more information about
Shanda, please visit http://www.snda.com .
For more information, please contact:
For Shanda:
Dahlia Wei, IR Associate Director
Elyse Liao, IR Senior Manager
Tel +86-21-5050-4740 in Shanghai
Email: IR@snda.com
Christensen
China:
Paul Collins
Phone: +86-21-6468-0334
Email: pcollins@christensenir.com
United States:
Mike Houston
Phone: +1-480-614-3029
Toll free: +1-866-916-8744
Email: mhouston@christensenir.com
SOURCE Shanda Interactive Entertainment Limited