China Cablecom Announces Appointment of Emmanuel J. Olympitis to Its Board of Directors and Audit Committee
21 Octubre 2009 - 6:15AM
PR Newswire (US)
SHANGHAI, Oct. 21 /PRNewswire-FirstCall/ -- China Cablecom
Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL)
(NASDAQ:CABLW) (NASDAQ: CABLU), a joint-venture provider of cable
television services in the People's Republic of China (PRC), today
announced the appointment of Emmanuel J. Olympitis to its Board of
Directors and Audit Committee. Mr. Olympitis currently serves as
Executive Chairman of Petrocapital Resources Plc., a UK-listed
company with investments in the oil sector. He is also a
non-executive Director of Canoel International Energy Ltd., a
Toronto-listed exploration oil and gas company. "I am excited to
welcome Manoli to our Company," says Clive Ng, Founder &
Executive Chairman of China Cablecom. "I have known him for almost
two decades and we have enjoyed tremendous success together as he
was my former Chairman at Pacific Media. He brings with him an
extensive background as Executive Chairman and Chief Executive of
mainly listed companies. With over twenty years of experience, he
has delivered a consistent track record of generating profitability
through a broad range of banking and financial service groups. We
are enthusiastic about our future outlook under his guidance." From
1999 to 2004, Mr. Olympitis was formerly Executive Chairman of
Pacific Media Plc., a London Stock Exchange listed retail, media,
and e-commerce company focused on Asia. Previously, he held
numerous executive positions including Group Chief Executive of
Aitken Hume International Plc., a London Stock Exchange listed
banking, insurance and fund management group. Subsequently, Mr.
Olympitis was Executive Chairman and Managing Director of Johnson
& Higgins Ltd., during which time the company won the Queens
Award for Exports in 1994. Mr. Olympitis' background includes
investment banking where he was appointed head of all Eurodollar
syndicated loan activities for Bankers Trust International Limited
in London. There he served as Executive Director where he managed
international initiatives of several billion dollars into South
America, Greece and Eastern Europe. More recently, he has held
positions as a non-executive Director and member of Audit
Committees on several UK-listed companies including Matica Plc.,
Secure Fortress Plc., Bulgarian Land Development Plc., Norman 95
Plc., and served as Chairman for Bella Media Plc. Mr. Olympitis
will be replacing Pierre Suhandinata who previously resigned as a
director of the Company. "On behalf of the Board we would like to
thank Pierre for his support and contributions which have served to
be invaluable to the Company. We appreciate his dedication and
strategic oversight as Board member and wish him success in his
path ahead," says Clive Ng, Founder & Executive Chairman. About
China Cablecom China Cablecom is a joint-venture provider of cable
television services in the People's Republic of China, operating in
partnership with a local state-owned enterprise ("SOE") authorized
by the PRC government to control the distribution of cable TV
services through the deployment of analog and digital cable
services. China Cablecom has consummated the acquisition of a 55
percent economic interest in a cable network in Hubei province with
paying subscribers exceeding 1,100,000. The Company originally
acquired operating rights of the Binzhou Broadcasting network in
Binzhou, Shandong Province in September 2007 by entering into a
series of asset purchase and services agreements with a company
organized by SOEs, owned directly or indirectly by local branches
of State Administration of Radio, Film and Television in five
different municipalities to serve as a holding company of the
relevant businesses. China Cablecom now operates 28 cable networks
with over 1.67 million paying subscribers. China Cablecom's
strategy is to replicate the acquisitions by operating partnership
models in other municipalities and provinces in the PRC and then
introducing operating efficiencies and increasing service offerings
in the networks in which it operates. Safe Harbor Statement The
matters discussed in this press release contain "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements contained in this
presentation and in the Company's other written and oral reports
are based on current Company expectations and are subject to
numerous risks, uncertainties and assumptions, Any forward-looking
statements are not guarantees of future performance and actual
results of operations, financial condition and liquidity. The
forward-looking statements herein speak only as of the date stated
herein and might not occur or the actual results may differ
materially in light of these risks, uncertainties, and assumptions.
The Company undertakes no obligation and disclaims any obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise. You should carefully consider these factors, as well as
the additional risk factors outlined in the filings that the
Company makes with the U.S. Securities and Exchange Commission,
including the Annual Report on Form 20-F filed on July 15, 2009.
CONTACT: China Cablecom Holdings, Ltd. Debra Chen Phone:
917.499.8129 Email: DATASOURCE: China Cablecom Holdings, Ltd.
CONTACT: Debra Chen of China Cablecom Holdings, Ltd.,
+1-917-499-8129, Web Site: http://www.chinacablecom.net/
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