SHENZHEN, China, Sept. 29 /Xinhua-PRNewswire/ -- Noah Education Holdings Ltd. ("Noah") (NYSE: NED), a leading provider of interactive education content in China, today announced that its three founding members, Chairman and Chief Executive Officer Mr. Dong Xu, Director and Chief Technology Officer Mr. Xiaotong Wang and Director Mr. Benguo Tang have each withdrawn their respective written trading plans that were previously established in July 2008 in accordance with SEC Rule 10b5-1 and Noah’s insider trading policy. The 10b5-1 plan was initially adopted to sell portions of each member’s stock over time as part of each individual’s long-term strategy for asset diversification. The Company also announced that none of the founders reduced their respective holdings during the last open trading window.
Mr. Dong Xu, Noah’s chairman and CEO, said, "As Noah is marching toward its next phase of growth, Xiaotong, Benguo and I are excited about the company’s future prospects. We believe that Noah’s stock is significantly undervalued at this time. As a result, we have each elected to withdraw our Rule 10b5-1 trading plans."
About Noah
Noah Education Holdings Limited ("Noah") is a leading provider of supplementary education content to China’s elementary and middle school students. Noah develops and markets interactive educational content, software and delivery platforms that combine traditional education content with digital and multi-media technologies to cater to students’ interests and enhance academic efficiency and performance. Noah employs a nationwide sales network, powerful brand image, and accessible and diversified delivery platforms to attract students to its innovative content. Noah delivers its education content via Noah electronic educational products, Noah’s online website and after-school tutoring centers. The interactive and comprehensive structure of Noah’s offerings encourages students and teachers to form knowledge-sharing communities around the Noah brand. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED.
For more information about Noah, please visit http://www.noahtech.com.cn .
Safe Harbor Statement
This press release contains forward-looking statements that reflect Noah’s current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Noah has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that our actual future results may be materially different from and worse than what Noah expects. Information regarding these risks, uncertainties and other factors is included in Noah’s filings with the SEC.
