SEC Declares Registration Statement Effective
December 10 2003 - 8:00AM
PR Newswire (US)
SEC Declares Registration Statement Effective HONG KONG, Dec. 10
/PRNewswire-FirstCall/ -- China Cable and Communication, Inc.
(BULLETIN BOARD: CCCI) , a China-based cable TV company, today
announced that the U.S. Securities and Exchange Commission has
declared effective the Company's SB-2 registration statement filed
on November 12, 2003 with respect to approximately 2.7 million
shares owned and recently acquired by Gryphon Master Fund, L.P. for
US$4.0 million in a previously announced private placement. China
Cable and will not sell any shares or receive any funds pursuant to
the registration statement. Ray Kwan, CEO of China Cable and
Communication, said, 'We are pleased with the speed in which the
registration statement was declared effective.' About China Cable
and Communication China Cable and Communication, Inc. is a
China-based cable TV company. Through its British Virgin Island
subsidiary, the Company is the first foreign company to own and
operate a cable television network in China. The Company owns a 49%
interest in Baoding Pascali Cable Television Network through a
license that allows the Company to make additional investments in
PRC networks. Located 85 miles south of Beijing, the network has
more than 200,000 subscribers within a population of 10 million,
and currently offers 39 channels within the Baoding city limits and
eight additional channels to outer areas in the Baoding
metropolitan area. It transmits in both analog and digital over its
fiber optic network and through 22 substations. With its fiber
optic network, Baoding network is capable of transmitting 37 analog
television programs, six digital signals and one FM music program.
In addition to its cable television transmission services, Baoding
network offers Internet access and anticipates that it will be able
to offer value added services, such as broadband Internet access,
virtual private network and bulk data transmission services by the
end of 2003. In addition to its favorable advantage in access to
foreign capital, China Cable and Communication is well positioned
as a foreign investor approved by The State Administration of
Radio, Film and Television ("SARFT"), China's national regulatory
authority for the broadcasting industry, to own interests in and
provide operational management support to cable television networks
in the People's Republic Of China (PRC). China Cable and
Communication, Inc. trades in the United States, under the ticker
symbol CCCI, in order to provide U.S. investors with the
opportunity to invest in PRC cable television networks. The
forward-looking statements contained herein are subject to certain
risks and uncertainties that could cause actual results to differ
materially from those reflected in the forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis
only as of the date hereof. The company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date thereof. Readers should
carefully review the risks described in other documents the company
files from time to time with the Securities and Exchange
Commission, including the Annual Report on Form 10-KSB for the
fiscal year ended October 31, 2002, as well as the Quarterly
Reports and Current Reports on Form 8-K by the company. CONTACT:
David Pasquale of The Ruth Group, Tel: +1-646-536-7006 Jim Olecki
of The Ruth Group, Tel: +1-646-536-7021 Web:
http://www.theruthgroup.com/ George Raney of China Cable &
Communication, Inc. Tel: +1-310-301-0082 DATASOURCE: China Cable
and Communication, Inc. CONTACT: George Raney of China Cable,
+1-310-301-0082; or David Pasquale, +1-646-536-7006, or Jim Olecki,
+1-646-536-7021, both of the Ruth Group for China Cable Web Site:
http://www.theruthgroup.com/
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