CDC Corporation, Its Subsidiaries and Officers Have Purchased an Aggregate Total of Approximately 2.3 Million Shares of CDC Common Stock Since January 2008 |
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CDC Software/Ross Enterprise
2 Concourse Pkwy., Suite 800
Atlanta, GA, 30328
USA
Press release date: August 24, 2009
HONG KONG, ATLANTA, August 24, 2009-CDC Corporation (NASDAQ: CHINA), a leading global enterprise software and new media company, announced today that the company, its subsidiaries and officers have purchased an aggregate total amount of approximately 1.9 million shares of CDC Corporation common stock since January 2008, at an average price of approximately $1.38 per share. Under a new 10b5-1 plan, the company and its subsidiaries purchased 186,199 shares at an average price of $1.38 per share since July 15, 2009.
In addition, since January 2008, directors and officers purchased a net amount of approximately 392,602 shares at an average price of approximately $2.79 per share. "Despite the continued softness in the global economy, we continue to believe CDC Corporation shares are significantly undervalued by the investment community," stated Peter Yip, CEO of CDC Corporation. "We are committed to our strategic initiatives to unlock shareholder value such as the recent successful carveout IPO of CDC Software, the repurchasing of a significant portion of convertible notes, and reporting solid cash flow and seven consecutive quarters of Adjusted EBITDA growth. In addition, we are pleased to see CDC Games report 50 percent revenue growth in the second quarter of 2009 compared to the first quarter of 2009 and the great progress in the extensive preparations for the expected commercial launch of The Lord of the Rings Online next month in China. We are also delighted with LOTRO's steady climb in popularity as reflected in its recent ranking in popular games portal 17173.com as the number 4 most downloaded game in China."
About CDC Corporation The CDC family of companies includes CDC Software (NASDAQ: CDCS) focused on enterprise software applications and services, China.com, Inc. (HKGEM:8006) focused on portals for the greater China markets, CDC Games focused on online games, and CDC Global Services focused on IT consulting services, outsourced application development and IT staffing. For more information about CDC Corporation (NASDAQ: CHINA), please visit www.cdccorporation.net.
For more information on LOTRO in China, please visit CDC Games' official website: http://lotro.cdcgames.net
For More Information Media Relations Lorretta Gasper CDC Software (678) 259-8631 lgasper@cdcsoftware.com
Investor Relations Monish Bahl CDC Corporation (678) 259-8510 monishbahl@cdcsoftware.com
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