Acorn International Announces Private Share Buyback

Acorn, 12/24/12

Chinese multi-platform marketing company Acorn International (NYSE: ATV) today announced that it had, through its wholly-owned subsidiary China DRTV, Inc., agreed to purchase a total of 7,859,550 ordinary shares (equivalent to 2,619,850 American Depositary Shares (ADSs)), in the form of ordinary shares and ADSs, from a limited number of former company employees and their affiliates. The purchase price of USD 1.1 per ordinary share (equivalent to USD 3.3 per ADS) was established based on, among other factors, a discount of 15.2 % to the Company's cash assets value per share as of September 30, 2012.

Keywords: financing China DRTV television Acorn International ATV TV advertising TV shopping channel

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily