Camelot Discloses Management's Involuntary Sale of Common Stock# Stock
e*i
1 楼
Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS), a
leading domestic provider of enterprise application services and financial
industry information technology ("IT") services in China, today announced
that its Chairman and Chief Executive Officer, Yiming (Simon) Ma, and its
Director and President, Heidi Chou, previously entered into certain margin
loans, which were secured by a pledge of certain shares of the Company held
by them. Due solely to market conditions and pursuant to margin calls, a
total of 3,981,153 ADSs, or 15,924,612 shares, representing approximately 8.
8% of the Company's total issued and outstanding shares, were divested by
one financial institution through sales on the open market and through
transfers to other parties, to cover the obligations of Yiming Ma and Heidi
Chou thereunder.
Mr. Yiming Ma, Camelot's Chairman and Chief Executive Officer commented, "We
were very disappointed to have to part with our Camelot shares to cover
margin loans, since these transactions stand in opposition to our outlook
for Camelot. Our share sales were precipitated by the extraordinary events
affecting U.S.-listed China stocks in the IT services sector, and our
confidence in Camelot shares remains unblemished. We do not foresee a need
to sell any additional shares at this time and we plan to hold our shares
for the long term."
什么事都能发生.
leading domestic provider of enterprise application services and financial
industry information technology ("IT") services in China, today announced
that its Chairman and Chief Executive Officer, Yiming (Simon) Ma, and its
Director and President, Heidi Chou, previously entered into certain margin
loans, which were secured by a pledge of certain shares of the Company held
by them. Due solely to market conditions and pursuant to margin calls, a
total of 3,981,153 ADSs, or 15,924,612 shares, representing approximately 8.
8% of the Company's total issued and outstanding shares, were divested by
one financial institution through sales on the open market and through
transfers to other parties, to cover the obligations of Yiming Ma and Heidi
Chou thereunder.
Mr. Yiming Ma, Camelot's Chairman and Chief Executive Officer commented, "We
were very disappointed to have to part with our Camelot shares to cover
margin loans, since these transactions stand in opposition to our outlook
for Camelot. Our share sales were precipitated by the extraordinary events
affecting U.S.-listed China stocks in the IT services sector, and our
confidence in Camelot shares remains unblemished. We do not foresee a need
to sell any additional shares at this time and we plan to hold our shares
for the long term."
什么事都能发生.