HONG KONG, Dec. 21, 2011 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," - 801.HK; 910801.TW), China's leading integrated healthcare enterprise, today announced that the Group has repurchased a total of 9,940,000 shares in December 2011, equivalent to 0.49% of the Group's total outstanding shares at a weighted average price of HK$0.84 per share.
Mr. KAM Yuen, Chairman and Chief Executive Officer of the Group, said, "Our recently announced interim results for the first six months of the financial year points to a positive outlook for our operations especially in the healthcare services segment, while our medical devices segment, being a leading name in the medical devices industry in China has also been performing in-line with our expectations. As a result of a volatile global capitals market, however, we believe the Company's current share price do not adequately reflect the true value of the underlying operation. Hence to reciprocate our shareholders, the Company has repurchased its shares from the open market. We will continue to monitor our share price and undertake appropriate actions to repurchase shares when appropriate in consideration to the benefit of our shareholders.
Mr. Kam continued, "As the founding shareholder of the Company, my family and I have been accumulating the Company's shares from the market and now own 21.64%. I believe that once the market stabilises, the intrinsic value of the Company's will be better reflected in its share price."
About Golden Meditech Holdings Limited
Golden Meditech Holdings Limited is China's leading integrated-healthcare devices and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx) and the Taiwan Stock Exchange (TSE). Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets over the years, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.
For inquiries, please contact the Investor Relations Department:
Golden Meditech Holdings Limited
48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong
SOURCE Golden Meditech Holdings Limited