SHANGHAI, June 13, 2011 /PRNewswire-Asia-FirstCall/ -- The9
Limited (NASDAQ: NCTY) ("The9"), an online game developer and
operator in China, today announced
that its Board of Directors has approved a share repurchase program
to purchase up to US$25 million of
its American Depositary Shares over the next 12 months.
The9 may make repurchases in the open market and pursuant to any
trading plan that may be adopted in accordance with Rule 10b5-1 of
the Securities Exchange Act of 1934 (the "1934 Act"). The program
will be conducted in compliance with Rule 10b-18 of the 1934 Act
and other applicable legal requirements. The program may be
modified or suspended at any time at the company's discretion.
About The9 Limited
The9 Limited is an online game operator and developer in
China. The9 directly, or through
affiliates, operates licensed MMORPGs including Soul of The
Ultimate Nation™, Atlantica and Kingdom Heroes 2 Online in mainland
China. The9 has also obtained
exclusive licenses to operate other online games in mainland
China, including Seoyugi,
Planetside 2 and Free Realms. In addition, The9 operates its
proprietary MMORPG World of Fighter, and web and SNS game Winning
Goal, in mainland China and
overseas. The9 is also developing various proprietary games,
including ShenXianZhuan, Firefall and other MMORPG, web and SNS
games. In 2010, The9 established its Mobile Business Unit to focus
on mobile internet business.
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the "safe harbor" provisions
of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the business outlook and quotations from
management in this press release contain forward-looking
statements. The9 may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 20-F and 6-K, etc., in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are
not historical facts, including statements about The9's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number
of important factors could cause actual results to differ
materially from those contained in any forward-looking statement.
Potential risks and uncertainties include, but are not
limited to, The9's limited operating history as an online game
operator, political and economic policies of the Chinese
government, the laws and regulations governing the online game
industry, information disseminated over the Internet and Internet
content providers in China,
intensified government regulation of Internet cafes, The9's ability
to retain existing players and attract new players, license,
develop or acquire additional online games that are appealing to
users, anticipate and adapt to changing consumer preferences and
respond to competitive market conditions, and other risks and
uncertainties outlined in The9's filings with the U.S. Securities
and Exchange Commission, including its annual reports on Form 20-F.
The9 does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For further information,
please contact:
|
|
|
|
Ms. Phyllis Sai
|
|
Investor
Relations
|
|
The9 Limited
|
|
Tel: +86 (21)
5172-9990
|
|
Email:
IR@corp.the9.com
|
|
Website:
http://www.corp.the9.com/
|
|
|
SOURCE The9 Limited