BEIJING, Dec. 8 /Xinhua-PRNewswire/ -- PacificNet, Inc. (Nasdaq: PACT), a
leading provider of Customer Relationship Management (CRM), mobile internet,
e-commerce and gaming technology in China, today announced that it will hold
its annual stockholders meeting at 1:00 pm (Beijing time) in Beijing, China on
December 15, 2006. The meeting will be held at the company's executive offices
located at Room 2309, Building A, TimeCourt, No. 6 Shuguang Xili, Chaoyang
District, Beijing, China 10028, for the following purposes:
1. To elect seven (7) directors to the Board of Directors of the Company
to serve until the next annual meeting of stockholders and until their
successors are duly elected and qualified.
2. To ratify the appointment of Clancy and Co., P.L.L.C., as the Company's
independent auditors.
3. To consider and act upon a proposal to amend the Company's 2005 Stock
Option Plan.
4. To transact any other business as may properly be presented at the
Annual Meeting or any adjournment or postponement thereof.
(Logo: http://www.prnasia.com/sa/200611281258.jpg )
Victor Tong, President of PacificNet said: "We welcome all PACT
shareholders to come to the PACT China Headquarters in BJ, meet the management
in person, and review our business on Dec 15, AGM day. This would be a good
opportunity for our shareholders to meet the management and to see our
operations in China first hand. We'd like to remind all shareholders to
please cast their votes prior to the AGM date to ensure that their votes will
be counted in time."
A complete copy of the AGM Proxy 14A can be reviewed at the SEC.gov web
site at:
http://www.sec.gov/Archives/edgar/data/815017/000101968706002578/pact_defr14a-
120406.htm
About PacificNet
PacificNet, Inc. ( http://www.PacificNet.com ) is a leading provider of
Customer Relationship Management (CRM), mobile internet, e-commerce and gaming
technology in China. PacificNet's clients include the leading telecom
companies, banks, insurance, travel, marketing, and business services
companies, and telecom consumers, in Greater China. PacificNet's corporate
clients include China Telecom, China Mobile, Unicom, PCCW, Hutchison Telecom,
Bell24, Motorola, Nokia, SONY, TCL, Huawei, American Express, Citibank, HSBC,
Bank of China, Bank of East Asia, DBS, TNT, and Hong Kong Government.
PacificNet employs over 1400 staff in its various subsidiaries throughout
China with offices in Hong Kong, Beijing, Shenzhen, Guangzhou, Macau, and
branch offices in 28 provinces in China and is headquartered in Beijing and
Hong Kong.
PacificNet Games Limited (PacGames), is a leading provider of Asian multi-
player electronic gaming machines, gaming technology solutions, gaming related
maintenance, IT and distribution services for the leading hotel, casino and
slot hall operators based in Macau, China and other Asian gaming markets.
PacGames is a leading developer of electronic versions of popular table games
which are less expensive to run resulting in higher casino profits with great
appeal to the mass market players. The growing market in Macau is for Asian
table games such as Baccarat, Roulette, Fan Tan, Fish-Prawn-Crab and Sic-Bo
Cussec as these games have wider acceptance in the Asian market than Western
games such as poker or slots. We believe that the development, manufacturing,
maintenance, and service of electronic Asian table games are underserved areas
which are predicted to grow considerably as Macau's gaming market matures.
PacGames products include multi-play electronic gaming machines such as
Baccarat, Fish-Prawn-Crab, Sib-Bo Cussec, Roulette, and Video Lottery
Terminals (VLT) such as Keno and Bingo, as well as other traditional slot
machines.
PacificNet's operations can be classified into the following four main
business units:
(1) Outsourcing Services - involves human voice services such as Business
Process Outsourcing, CRM, call center, IT Outsourcing and software development
services. These types of services are conducted through our subsidiaries EPRO,
Smartime/Soluteck and PacificNet Solution Ltd.
(2) Telecom Value-Added Services (VAS) - primarily involves machine voice
services such as Interactive Voice Response, SMS and related VAS, which are
conducted through our subsidiaries such as Linkhead, Clickcom, MOABC and
Guangzhou 3G.
(3) Products (Telecom & Gaming) - primarily involves communication and
gaming products, GSM/CDMA/3G Products, Multimedia Communication Kiosks. This
Group includes the following subsidiaries: PacificNet Communications Limited,
iMobile, Take1 and PacificNet Games.
(4) Other Business -other administrative, financial and investment
services and non-core businesses such as PacificNet Power Limited (PacPower),
Pacific Financial Services Limited, etc.
Safe Harbor Statement
This Company's announcement contains forward-looking statements. We may
also make written or oral forward-looking statements in our periodic reports
to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to
shareholders, in our proxy statements, in press releases and other written
materials and in oral statements made by our officers, directors or employees
to third parties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking statements.
These statements are based on current plans, estimates and projections, and
therefore you should not place undue reliance on them.
Forward-looking statements involve inherent risks and uncertainties. We
caution you that a number of important factors could cause actual results to
differ materially from those contained in any forward-looking statement.
Potential risks and uncertainties include, but are not limited to,
PacificNet's historical and possible future losses, limited operating history,
uncertain regulatory landscape in China, and fluctuations in quarterly and
annual operating results. Further information regarding these and other risks
is included in PacificNet's Form 10K and other filings with the SEC.
