SHANGHAI, March 22 /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
$300 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:
Elyse Liao
Investor Relations Senior Manager
Shanda Interactive Entertainment Limited
Tel: +86-21-5050-4747 (Shanghai)
Email: IR@snda.com
SOURCE Shanda Interactive Entertainment Limited