HONG KONG, July 5, 2012 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE:CO) ("CCBC" or the "Company"), the first and largest cord blood banking operator in China, today announced that the Company repurchased an aggregate of 2,191,412 ordinary shares for a total consideration of approximately $6.2 million since August 2011. The total number of shares repurchased represents approximately 41% of the total $15 million authorized under the existing buyback program, which was authorized by the Board in August 2011, leaving approximately $8.8 million still available for repurchase.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood Corporation, stated that "Our most recent full-year results have once again demonstrated our ability to achieve and surpass corporate objectives and financial targets. Our strategy to emphasize upfront payment for cord blood banking services has already yielded tremendous success, as evidenced by the Company's greatly increased cashflow. We have also made good progress in capacity expansion and with the new Zhejiang operation. In light of our optimistic outlook and to demonstrate our commitment toward enhancing long-term shareholder value, we are delighted to seize this window of opportunity to buy back shares and remain committed to continue doing so as opportunities arise."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or the Company's future financial performance. The Company has attempted to identify forward-looking statements by terminology including "anticipates", "believes", "expects", "can", "continue", "could", "estimates", "intends", "may", "plans", "potential", "predict", "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this press release is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company does not guarantee future results, levels of activity, performance or achievements. The Company expectations are as of the date this press release is issued, and the Company does not intend to update any of the forward-looking statements after the date this press release is issued to confirm these statements to actual results, unless required by law.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: (+852) 3605-8180
Mr. Rob Koepp
Tel: (+86) 10-6583-7516 (China) or (646) 405-5185 (U.S.)
SOURCE China Cord Blood Corporation