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.
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:
Director, Investor Relations
AirMedia Group Inc.
Ascent Investor Relations LLC
SOURCE AirMedia Group Inc.