Welcome!

News Feed Item

Linktone Announces US$8 Million Share Repurchase Program

SINGAPORE, Nov. 23, 2012 /PRNewsire/ -- Linktone Ltd. (NASDAQ: LTON), a provider of media and entertainment content and services in key strategic markets in Asia, today announced that its Board of Directors has authorized the repurchase of up to US$8 million worth of outstanding American Depositary Shares, or ADSs, over approximately the next 6 months, from time to time, in open-market purchases at prevailing market prices pursuant to a trading plan established under Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, or the Exchange Act.  The timing and extent of any purchases will be subject to the parameters specified in the Rule 10b5-1 trading plan and depend on a number of factors including the price and availability of the Company's ADSs.  The trading plan may be suspended or discontinued at any time, without prior notice.  In addition, repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases. The Company will finance the repurchase with existing cash reserves and cash generated from operations. 

ABOUT LINKTONE LTD.

Linktone Ltd. is a provider of rich and engaging services and content to a wide range of traditional and new media consumers and enterprises in Mainland China, Indonesia, Malaysia, Hong Kong and Singapore. Linktone focuses on media, entertainment, communication and edutainment products, which are promoted through the company's strong nationwide distribution networks, integrated service platforms and multiple marketing sales channels, as well as through the networks of leading mobile operators in Mainland China and Indonesia. 

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature.  These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.  You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar statements.  The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: Linktone's ability to execute its strategy and successfully develop a diversified, multi-platform and multi-territory media and entertainment business with stable revenue streams; changes in the policies of the relevant government regulators or telecom network operators in China and Indonesia or in the manner in which the operators interpret and enforce such policies, including policies which reduce the prices the Company may charge customers; the risk that other changes in applicable laws and regulations, including without limitation tax and media-related laws or laws relating to the usage of telecom value-added services, or in application thereof by relevant governmental authorities, could adversely affect Linktone's financial condition and results of operations; the risk that Linktone will not be able to realize meaningful returns from investments it makes, including its acquisitions or strategic partnerships, or may be required to record provisions for impairments in the value of the Company's investments; Linktone's ability to cost-effectively market its services and products; the risk that Linktone will not be able to compete effectively in the telecom value-added services market in the PRC and the other markets in which it operates including the VAS market in Indonesia and the market for edutainment and entertainment products and social commerce, for whatever reason, including competition or changes in the regulatory environment; the risk that Linktone will not be able to effectively manage entities that it acquires or effectively utilize their resources; and the risks outlined in Linktone's filings with the Securities and Exchange Commission, including its registration statement on Form F-1 and annual report on Form 20-F. Linktone does not undertake any obligation to update this forward-looking information, except as required under applicable law.

CONTACTS:

Investor Relations (HK):
Mahmoud Siddig, Managing Director
Taylor Rafferty
Tel:    +852 3196 3712
Email: [email protected]

Investor Relations (US):
Bryan Degnan, Senior Associate
Taylor Rafferty
Tel:    +1-212-889-4350
Email: [email protected]

SOURCE Linktone Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
All in Mobile is a mobile app agency that helps enterprise companies and next generation startups build the future of digital. We offer mobile development and design for smartphones, tablets and wearables. Our projects cover the latest and most innovative technologies - voice assistants, AI, AR/VR and more. We excel at solutions for sports, fintech and retail industries.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous importa...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
Mid-sized companies will be pleased with StorageCraft's low cost for this solution compared to others in the market. There are no startup fees, our solution has a predictable monthly cost, highly competitive pricing and offers ongoing value for our partners month after month. By enabling pooling and StorageCraft's 30-days of free virtualization the company removes several concerns surrounding machine size management and disaster recovery testing costs that add to the complexity of implementing a...
Ivo Lukas is the Founder/CEO for 24Notion. 24Notion is the first integrated marketing/digital PR & lifestyle agency with special emphasis on giving back to the global communities. With a broad understanding the art of non- traditional marketing, new media, communications and social influence. 24Notion ranked #12 in Corporate Philanthropy nominated by Portland Business Journal Book of List.
Most modern computer languages embed a lot of metadata in their application. We show how this goldmine of data from a runtime environment like production or staging can be used to increase profits. Adi conceptualized the Crosscode platform after spending over 25 years working for large enterprise companies like HP, Cisco, IBM, UHG and personally experiencing the challenges that prevent companies from quickly making changes to their technology, due to the complexity of their enterprise. An accomp...
Eric Taylor, a former hacker, reveals what he's learned about cybersecurity. Taylor's life as a hacker began when he was just 12 years old and playing video games at home. Russian hackers are notorious for their hacking skills, but one American says he hacked a Russian cyber gang at just 15 years old. The government eventually caught up with Taylor and he pleaded guilty to posting the personal information on the internet, among other charges. Eric Taylor, who went by the nickname Cosmo...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
There's no doubt that blockchain technology is a powerful tool for the enterprise, but bringing it mainstream has not been without challenges. As VP of Technology at 8base, Andrei is working to make developing a blockchain application accessible to anyone. With better tools, entrepreneurs and developers can work together to quickly and effectively launch applications that integrate smart contracts and blockchain technology. This will ultimately accelerate blockchain adoption on a global scale.
Cryptomage, Inc. is a dynamic hi-tech ICT company offering products and services in the cybersecurity area. We deliver high quality solutions both technologically and conceptually. We have academic roots and hire scientists, cybersecurity experts, software developers and analysts. Our strategy is focused on maintaining the highest skills of our human resources. The Cryptomage team is capable of more than delivering complex solutions; we can improve the whole concept to deliver real added value t...
In addition to 22 Keynotes and General Sessions, attend all FinTechEXPO Blockchain "education sessions" plus 40 in two tracks: (1) Enterprise Cloud (2) Digital Transformation. PRICE EXPIRES AUGUST 31, 2018. Ticket prices: ($295-Aug 31) ($395-Oct 31) ($495-Nov 12) ($995-Walk-in) Does NOT include lunch.
Early Bird Registration Discount Expires on August 31, 2018 Conference Registration Link ▸ HERE. Pick from all 200 sessions in all 10 tracks, plus 22 Keynotes & General Sessions! Lunch is served two days. EXPIRES AUGUST 31, 2018. Ticket prices: ($1,295-Aug 31) ($1,495-Oct 31) ($1,995-Nov 12) ($2,500-Walk-in)
It cannot be overseen or regulated by any one administrator, like a government or bank. Currently, there is no government regulation on them which also means there is no government safeguards over them. Although many are looking at Bitcoin to put money into, it would be wise to proceed with caution. Regular central banks are watching it and deciding whether or not to make them illegal (Criminalize them) and therefore make them worthless and eliminate them as competition. ICOs (Initial Coin Offer...