On Monday, Shares of SouFun Holdings Ltd. (NYSE:SFUN), lost -6.53% to $9.30.
SouFun Holdings Limited, declared that it will hold its 2015 annual general meeting of shareholders at Building 5, Zone 4, Hanwei International Plaza, No. 186 South 4th Ring Road, Fengtai District, Beijing 100160, the People’s Republic of China on July 3, 2015 at 10:30 a.m. (local time). The only proposal to be presented for shareholders’ approval at the annual general meeting is the approval of the Company’s 2015 Stock Incentive Plan. The Company’s board of directors has fixed June 4, 2015 as the record date for determining the shareholders entitled to receive notice of the annual general meeting or any adjournment or postponement thereof. Holders of record of the Company’s ordinary shares at the close of business on the Record Date are entitled to attend the annual general meeting and any adjournment or postponement thereof in person.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Shares of AirMedia Group Inc. (NASDAQ:AMCN), declined -17.77% to $5.97, during its last trading session, hitting its highest level.
AirMedia Group, declared that the Company, AirMedia Technology (Beijing) Co., Ltd., which is a wholly owned partner of the Company in China, Beijing AirMedia Shengshi Advertising Co., Ltd. formerly known as Beijing Shengshi Lianhe Advertising Co., Ltd., which is AirMedia’s variable interest entity (“VIE”) in China in addition to the controlling shareholder of AirMedia Group Co., Ltd., and Mr. Herman Guo, who is deemed as actual controller of AM Advertising under PRC law have reached a definitive equity interest transfer agreement (the “Agreement”) with Beijing Longde Wenchuang Fund Administration Co., Ltd. (“Longde Wenchuang” or the “Buyer”) to sell 75% equity interest of AM Advertising (the “Transaction”) for a consideration of RMB2.1 billion in cash (the “Consideration”), which reflected the total valuation of AM Advertising of RMB2.8 billion after the completion of the restructuring.
The Consideration payment will be made in two installments. The first installment of RMB800 million is required to be received within 15 working days after the executions of the Agreement and the fulfillment, or waiver by the Buyer, of certain preconditions, counting without limitation, AM Advertising shall have transferred certain of its auxiliaries that are not subject of the transaction out of its group and the key administration team members and other employees of AM Advertising shall each have reached an employment contract for a term of five years or more, a confidentiality agreement and/or non-competition agreement for a term of two years after the termination of employment. The second installment of RMB1.3 billion is required to be received within 15 workings days after the later to occur of the confirmation by Buyer on the audit report of the restructured AM Advertising and the fulfillment of certain preconditions, counting without limitation, the termination of the equity transfer agreement with Shenzhen Liantronics Co., Ltd. regarding the transfer of 5% equity interest of AM Advertising to Liantronics and removal of the VIE structure in connection with AM Advertising. The Seller guarantees that the preconditions to the second installment shall be fulfilled no later than September 30, 2015.
AirMedia Group Inc. operates out-of-home advertising platforms primarily in the People’s Republic of China. The company operates a network of digital TV screens on planes operated by seven airlines; traditional media in airports, such as light boxes, billboards, and painted advertisements; and gas station media displays, in addition to other outdoor media displays out of the air travel advertising sector.
Finally, New Gold, Inc. (NYSEMKT:NGD), ended its last trade with -3.38% loss, and closed at $3.14.
New Gold, declared the appointment of Kay Priestly to its Board of Directors.
Ms. Priestly has over 35 years of experience in finance, accounting and executive administration. She spent 24 years with Arthur Andersen LLP as a Certified Public Accountant where she offered auditing, tax and consulting services and held various senior leadership positions. She ultimately served on the firm’s global executive team as Managing Partner, People. From 2006 to 2014, Ms. Priestly held various executive positions with Rio Tinto plc and its associates, counting four years as Chief Financial Officer, Copper for Rio Tinto’s global copper product group and two years as Chief Executive Officer of Turquoise Hill Resources Ltd., an international mining company with copper-gold operations in the Asia-Pacific region. Ms. Priestly holds a Bachelor of Science, Accounting from Louisiana State University.
“We are delighted to welcome Kay to the Board,” said Randall Oliphant, Executive Chairman. “She is highly qualified, with a strong background in finance, accounting, tax and risk administration, in addition to recent experience in leadership roles in the mining sector. We believe that Kay will add considerable value and strength to our Board.”
New Gold Inc., a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company’s operating properties comprise a 100% interest in the New Afton gold-copper mine in British Columbia, Canada; the Mesquite gold mine in California; the Peak gold-copper mines in New South Wales, Australia; and the Cerro San Pedro gold-silver mine in the state of San Luis Potosí, Mexico.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
