SHANGHAI, Jan. 26, 2015 /PRNewswire/ -- Taomee Holdings
Limited ("Taomee" or the "Company") (NYSE: TAOM), a leading
children's entertainment and media company in China, announced that its Board of Directors
declared a special one-time cash dividend of US$0.0325 per ordinary share, or US$0.65 per American Depositary Share ("ADS",
each representing 20 ordinary shares).
Holders of the Company's ordinary shares (including ordinary
shares represented by ADSs) at the close of business on
February 6, 2015 (the "Record Date")
will be entitled to receive the special dividend. JPMorgan Chase
Bank, N.A., the depositary for Taomee's ADS program (the ADS
Depositary), expects to pay out dividends to ADS holders on or
around February 17, 2015. Dividends
to be paid to the Company's ADS holders through the ADS Depositary
will be subject to the terms of the deposit agreement by and among
the Company and the ADS Depositary, and the holders and beneficial
owners of ADSs issued thereunder, including the fees and expenses
payable thereunder.
The total amount of cash to be distributed for the special
dividend is expected to be approximately US$24.6 million.
"As we analyze our business plans for the upcoming year, we
found we have adequate cash to fund our current and potential
plans. As effective stewards of capital for our shareholders, we
also recognize the benefits of returning capital to shareholders as
a means of maximizing return on equity. Today's announcement of the
US$0.65 per ADS special dividend is
our latest effort in doing so. Our strong balance sheet, fiscal
prudence and growth opportunities in China's children entertainment and media
industry enable us to provide shareholders with this dividend,
while maintaining ample financial and operational flexibility to
expand our business," commented Mr. Benson
Wang Haibing, co-founder and chief executive officer of
Taomee.
As of September 30, 2014, the
Company had US$109.0 million in cash
and cash equivalents.
About Taomee Holdings Limited
Taomee Holdings Limited ("Taomee" or "the Company") is a leader
in China's children's
entertainment and media. Its award winning content offerings are
both engaging and educational, endearing it to children, as well as
to parents and teachers. The Company was founded in 2007 with the
mission to bring joy and inspiration to children. Its popular
character franchises, including SEER and MOLE'S WORLD, are
distributed online via virtual worlds, web games and mobile
applications, as well as through traditional media, including
animated box office films, TV series, books and consumer products,
most notably interactive toys and trading cards. Its online
community regularly achieves top search ranking in mainland China, Hong
Kong and Taiwan. Taomee has
been consistently recognized for its leadership and innovative
contributions to the children's market, including accolades from
China's Ministry of Culture and
the China Animation Association.
For more information, please visit:
http://www.taomee.com/en_taomee.html
- Visit online virtual world communities at www.61.com
- Watch animations and films at http://v.61.com/
- Download mobile games and applications at http://m.61.com/
- Share with other parents and caregivers at
http://mama.61.com/
Safe Harbor Statements
This press release contains statements that may constitute
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Among other things, the
management's quotations and outlook information contain
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements to
be materially different from those expressed or implied by the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the Company's business strategies
and initiatives as well as business plans; future business
development, results of operations and financial condition;
expected changes in revenues and certain cost or expense items;
expectations with respect to increased revenue growth and the
Company's ability to sustain profitability; the Company's services
and products under development or planning; the Company's ability
to attract users and further enhance the Company's brand
recognition; and trends and competition in the children's
entertainment and media market and industry, including those for
online entertainment. Further information regarding these and other
risks is included in Taomee's annual report on Form 20-F and other
documents filed with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
the press release, and the Company undertakes no obligation to
update any forward-looking statements to reflect subsequent
occurring events or circumstances, or changes in its expectations,
except as required under applicable law. Although the Company
believes that the expectations expressed in these forward looking
statements are reasonable, the Company cannot assure you that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
For further information, please contact
Angela Wang
Taomee Holdings Limited
+86-21-61280056 Ext 8651
ir@taomee.com
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SOURCE Taomee Holdings Limited
