SHANGHAI, June 20, 2018 /PRNewswire/ -- In response to
questions from our shareholders, we are voluntarily electing to
issue this press release to assist our shareholders in
understanding the significance of the record date, payable date and
ex-dividend date that are mandated by the NYSE rules for the
special cash dividend distribution for Acorn International, Inc.
(NYSE: ATV) ("Acorn" or the "Company") that was previously declared
and announced on May 25, 2018. As
previously announced, below are the distribution dates for Acorn's
distribution of US$0.75 per ordinary
share, or approximately US$14.97 per
American depositary share ("ADS").
Declaration - 5/25/2018
Record Date - 6/4/2018
Payable Date - 6/22/2018
Ex-Dividend Date - 6/25/2018
Under Section 703.02(B) of New York Stock Exchange (the "NYSE")
Listed Company Manual, when as here a dividend distribution amounts
to 25% or more of the stock price, the NYSE applies an ex-dividend
date of one business day after the mail date for the distribution.
Record shareholders who sell their shares before the ex-dividend
date are obligated to pay a due-bill to the buyer, delivering the
dividend payable on such shares.
Accordingly, under Acorn's announced schedule, a record
shareholder who sells his/her shares on or after June 25, 2018 shall be able to keep the dividends
distributed. Record shareholders who sell their shares before
June 25, 2018 shall be obligated to
deliver the dividends to the buyer.
About Acorn International, Inc.
Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding
company in China with a proven
track record of developing, promoting and selling a diverse
portfolio of proprietary-branded products, as well as
well-established and promising new products from third parties. Its
current business includes selling merchandise to consumers in
China primarily through e-commerce
and its outbound call center. For more information visit www.acorninternationalir.com.
Safe Harbor
Statement
This news release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "anticipates," "believes,"
"estimates," "expects," "future," "going forward," "intends,"
"outlook," "plans," "target," "will," "potential," and similar
statements. Such statements are based on management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks,
uncertainties, and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance, or
achievements to differ materially from those in the forward-looking
statements. Further information regarding these and other risks,
uncertainties, or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events, or otherwise, except as
required by law.
Contact:
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Acorn International,
Inc.
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Compass Investor
Relations
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Ms. Margaret
Zhao
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Ms. Elaine Ketchmere,
CFA
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Phone:
+86-21-5151888
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Phone:
+1-310-528-3031
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Email:
Zhaoxiaojie@chinadrtv.com
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Email:
Eketchmere@compass-ir.com
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www.chinadrtv.com
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www.compassinvestorrelations.com
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SOURCE Acorn International, Inc.