BEIJING, Dec. 17, 2018 /PRNewswire/ -- AirMedia Group Inc.
("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market, today announced
that its Chairman and Chief Executive Officer Herman Man Guo had proceeded with his previously
announced share purchase plan (the "Share Purchase Plan"), which
was previous announced by the Company on March 28, 2018 and updated on September 28, 2018. As of December 14, 2018, Mr. Guo had purchased an
aggregate of 228,352 American depositary shares (ADSs) over the
period of Dec. 7, 2018 to
Dec. 14, 2018 at an average purchase
price of approximately US$0.25 per
ADS.
Furthermore, Mr. Guo had advised the Company that future
purchases under the Share Purchase Plan would be made by either Mr.
Guo, or members of his family, or investment vehicles that are
wholly owned and controlled by Mr. Guo and/or members of his
family, in accordance with AirMedia's insider trading policy.
"Despite the tough economic situation, I believe our business is
strong in fundamentals and financials. Our business development is
on track and I have strong confidence in the growth prospects of
the Company," remarked by Mr. Guo.
About AirMedia Group Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is
an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market. AirMedia sells
advertisements on the routes operated by several Chinese airlines
and at Sinopec's service stations in China. AirMedia also has concession rights to
operate the Wi-Fi systems on trains administered by eight railway
administrative bureaus in China as
well as on many long-haul buses in China. For more information, please visit
http://www.airmedia.net.cn.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's business
strategies and initiatives as well as the Company's business plans;
the Company's future business development, results of operations
and financial condition; expected changes in the Company's revenue
and certain cost or expense items; trends and competition in
China; general economic and
business conditions in China; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
Company Contact:
Yan Liu
Director, Investor Relations
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@ihangmei.com
Investor Contact:
Tina Xiao
President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE AirMedia Group Inc.