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As a result of the transactions, the Company issued and sold an aggregate of 150,000,000 ordinary shares, equivalent to 7,500,000 ADSs of the Company, to its employees for an aggregate purchase price of approximately
The Company has also obtained approval from its board of directors to grant loans to employees for the purchase of the new shares of the Company. The loans bear interest at a rate of 3% per annum and are repayable upon the sale of the shares of the Company, termination of employment or within two years, whichever comes first.
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Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about
CONTACT: For more information, please contact: Oasis Qiu Investor Relations Manager Tel: +86 (20) 6122-2731 Email: qiusr@cninsure.netSource:
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