AirMedia Group Inc. (AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, has announced that Herman Man Guo, the chairman of AirMedia´s board of directors and the company´s chief executive officer, intends to purchase AirMedia´s ordinary shares in the form of American depositary shares (“ADS”) with an aggregate value of up to USD 5 million during the next six months, the company said.
Guo expects to fund the purchase with his own resources.
The proposed share purchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the US Securities Exchange Act of 1934, as amended. â
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market. AirMedia sells advertisements on the routes operated by several Chinese airlines and at Sinopec´s service stations in China. AirMedia also has concession rights to operate the Wi-Fi systems on trains administered by eight railway administrative bureaus in China as well as on many long-haul buses in China. For more information, visit http://www.airmedia.net.cn.