China Cablecom Announces Board Departure
July 09 2009 - 8:00AM
PR Newswire (US)
SHANGHAI, July 9 /PRNewswire-FirstCall/ -- China Cablecom Holdings,
Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL)
(NASDAQ:CABLW) (NASDAQ: CABLU), announced the resignation of Ms.
Su-Mei Thompson from the Board of Directors, effective July 4,
2009. Ms. Thompson served as a board member for China Cablecom
since December of 2008. "Su-Mei has served as a valuable member and
trusted advisor to our Board of Directors," says Pu Yue, Chief
Executive Officer of China Cablecom. "We are grateful for her
contribution and wish her every success in the future. We also want
to thank our shareholders for their continued support while the
Company is undergoing fundamental changes that we believe will
ultimately generate positive results and create growth
opportunities for the business and our investors." About China
Cablecom China Cablecom is a joint-venture provider of cable
television services in the People's Republic of China, operating in
partnership with a local state-owned enterprise ("SOE") authorized
by the PRC government to control the distribution of cable TV
services through the deployment of analog and digital cable
services. In June 2008, China Cablecom consummated an agreement to
acquire a 60 percent economic interest in a cable network in Hubei
province with paying subscribers exceeding 800,000. The Company
originally acquired operating rights of the Binzhou Broadcasting
network in Binzhou, Shandong Province in September 2007 by entering
into a series of asset purchase and services agreements with a
company organized by SOEs, owned directly or indirectly by local
branches of State Administration of Radio, Film and Television in
five different municipalities to serve as a holding company of the
relevant businesses. China Cablecom now operates 28 cable networks
with over 1.4 million paying subscribers. China Cablecom's strategy
is to replicate the acquisitions by operating partnership models in
other municipalities and provinces in the PRC and then introducing
operating efficiencies and increasing service offerings in the
networks in which it operates. Safe Harbor Statement The matters
discussed in this press release contain "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements contained in this
presentation and in the Company's other written and oral reports
are based on current Company expectations and are subject to
numerous risks, uncertainties and assumptions, Any forward-looking
statements are not guarantees of future performance and actual
results of operations, financial condition and liquidity. The
forward-looking statements herein speak only as of the date stated
herein and might not occur or the actual results may differ
materially in light of these risks, uncertainties, and assumptions.
The Company undertakes no obligation and disclaims any obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise. You should carefully consider these factors, as well as
the additional risk factors outlined in the filings that the
Company makes with the U.S. Securities and Exchange Commission,
including the Registration Statement on Form S-1 filed on April 18,
2008. CONTACT: China Cablecom Holdings, Ltd. Debra Chen Phone:
917.499.8129 Email: http://www.chinacablecom.net/ DATASOURCE: China
Cablecom Holdings, Ltd. CONTACT: Debra Chen of China Cablecom
Holdings, Ltd., +1-917-499-8129, or Web Site:
http://www.chinacablecom.net/
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