China Cablecom Announces Resolutions Adopted at the 2008 Annual General Meeting
21 Dezember 2009 - 1:15PM
PR Newswire (US)
SHANGHAI, Dec. 21 /PRNewswire-FirstCall/ -- China Cablecom
Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL)
(NASDAQ:CABLW) (NASDAQ: CABLU), a joint-venture provider of cable
television services in the People's Republic of China ("PRC"),
today announced resolutions adopted at its Annual General Meeting
of Shareholders held in Shanghai on December 11, 2009. A total of
6,087,314 shares were represented in person or by proxy at the
Company's 2008 AGM, representing approximately 51% of total
outstanding shares. During the meeting, China Cablecom's
shareholders approved the re-election of all five directors to
serve until the 2009 Annual Meeting of Stockholders or until their
respective successors have been duly elected and qualified: Mr.
Clive Ng, Mr. Kerry Propper, Mr. Shan Li, Mr. Richard Yee Ming Eu,
and Mr. Emmanuel J. Olympitis. In addition, the Company's Audit
Committee approved the ratification of the appointment of UHY
Vocation HK CPA Limited, as the Company's independent auditors for
the 2009 fiscal year. For more detailed information regarding the
resolutions adopted at the Company's annual general meeting of
shareholders, please review the 2008 Annual General Meeting Notice
on the Company's website at http://www.chinacablecom.net/. About
China Cablecom China Cablecom is a joint-venture provider of cable
television services in the People's Republic of China, operating in
partnership with a local state-owned enterprise ("SOE") authorized
by the PRC government to control the distribution of cable TV
services through the deployment of analog and digital cable
services. China Cablecom has consummated the acquisition of a 55%
economic interest in a cable network in Hubei province with paying
subscribers exceeding 1,100,000. The Company originally acquired
operating rights of the Binzhou Broadcasting network in Binzhou,
Shandong Province in September 2007 by entering into a series of
asset purchase and services agreements with a company organized by
SOEs, owned directly or indirectly by local branches of State
Administration of Radio, Film and Television in five different
municipalities to serve as a holding company of the relevant
businesses. China Cablecom now operates 28 cable networks with over
1.67 million paying subscribers. China Cablecom's strategy is to
replicate the acquisitions by operating partnership models in other
municipalities and provinces in the PRC and then introducing
operating efficiencies and increasing service offerings in the
networks in which it operates. Safe Harbor Statement The matters
discussed in this press release contain "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements contained in this
presentation and in the Company's other written and oral reports
are based on current Company expectations and are subject to
numerous risks, uncertainties and assumptions, Any forward-looking
statements are not guarantees of future performance and actual
results of operations, financial condition and liquidity. The
forward-looking statements herein speak only as of the date stated
herein and might not occur or the actual results may differ
materially in light of these risks, uncertainties, and assumptions.
The Company undertakes no obligation and disclaims any obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise. You should carefully consider these factors, as well as
the additional risk factors outlined in the filings that the
Company makes with the U.S. Securities and Exchange Commission,
including the Annual Report on Form 20-F filed on July 15, 2009.
CONTACT: Debra Chen (917-499-8129) Email: DATASOURCE: China
Cablecom Holdings, Ltd. CONTACT: Debra Chen of China Cablecom
Holdings, Ltd., +1-917-499-8129, Web Site:
http://www.chinacablecom.net/
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