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FMCN - Focus Media Terminates Dividend Payment

|Includes:Focus Media Holding Limited (FMCN)
Prepared by ChinaScope Financial | Source: Imeigu
  • Focus Media Holdings Ltd. (FMCN: NASDAQ) announced on March 26 that its Board of Directors has resolved to terminate the payment of quarterly dividends due to considerations regarding the privatization proposal.
  • Early on December 19, 2012, Focus media signed a private merger agreement with Giovanna Parent Limited and Giovanna Acquisition Limited. The agreement, which took effect from December 31, 2012, prohibits Focus Media from paying any dividends or repurchasing any of its ordinary shares or American Depository Shares (ADSs) in the privatization process.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: FMCN