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Perfect World Announces Share Repurchase Program
Monday, October 13, 2008
BEIJING, Oct. 13 /Xinhua-PRNewswire/ -- Perfect World Co., Ltd.
(Nasdaq: PWRD) ("Perfect World" or the "Company"), a leading online game
developer and operator in China, today announced that its board of directors
has approved a share repurchase program.
The board has authorized Perfect World to repurchase up to US$100 million
of its own American Depositary Shares ("ADSs") during the period from October
2008 to October 2009. The repurchases will be made from time to time on the
open market at prevailing market prices, in negotiated transactions off the
market, in block trades or otherwise. The timing and extent of any purchases
will depend upon market conditions, the trading price of ADSs and other
factors, and subject to the restrictions relating to volume, price and timing
under applicable law, including Rule 10b-18 under the Securities Exchange Act
of 1934. Perfect World expects to implement this share repurchase program in
a manner consistent with market condition and the interest of the shareholders.
Perfect World's board of directors will review the share repurchase program
periodically, and may authorize adjustment of its terms and size accordingly.
About Perfect World Co., Ltd. ( http://www.pwrd.com )
Perfect World Co., Ltd. (Nasdaq: PWRD) is a leading online game developer
and operator in China. Perfect World primarily develops three-dimensional
("3D") online games based on the proprietary Angelica 3D game engine and game
development platform. The Company's strong technology and creative game
design capabilities, combined with extensive local knowledge and experience,
enable it to frequently and rapidly introduce popular games that are designed
to cater to changing customer preferences and market trends in China. The
Company's current portfolio of self-developed online games includes 3D
massively multiplayer online role playing games ("MMORPGs"): "Perfect World,"
"Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi" and
"Pocketpet Journey West;" and a 3D online casual game: "Hot Dance Party."
While most revenues are generated in China, the Company's games have been
licensed to leading game operators in a number of countries and regions in
Asia, Europe and South America. The Company plans to continue to explore new
and innovative business models and remains deeply committed to maximizing
shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements
constitute forward-looking statements under the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "future," "plans,"
"believes" and similar statements. Such statements involve certain risks and
uncertainties that could cause actual results to differ materially from those
in the forward-looking statements. Potential risks and uncertainties include,
but are not limited to, our limited operating history, our ability to protect
our intellectual property rights, our ability to respond to competitive
pressure, and changes of the regulatory environment in China. Further
information regarding these and other risks is included in Perfect World's
filings with the U.S. Securities and Exchange Commission, including its annual
report on Form 20-F. Perfect World does not undertake any obligation to
update any forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang
Investor Relations Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
http://www.pwrd.com
Christensen Investor Relations
Kathy Li
Tel: +1-212-618-1978
Fax: +1-480-614-3033
Email: kli@christensenir.com
Roger Hu
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: rhu@christensenir.com
SOURCE Perfect World Co., Ltd.
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