HONG KONG, July 15 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: CO; "the Company") today announced the cancellation of its nine million management incentive warrants plan, which was approved prior to the business combination in 2008. The Company took this action to further align executive compensation with shareholder interests. In return, the Company may consider a more conventional scheme to reward its management team for their outstanding performance in the forthcoming year.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood Corporation, commented, "We have exceeded our target to grow the subscriber bases by 30% in the past two years and are committed to increase our subscriber base by no less than 30 percent, or at least 58,000 new subscribers in fiscal year 2011. After considering the dilutive impact to our shareholders under the nine million management incentive warrant plan, we decided to cancel such plan and are considering having a more conventional scheme to align management interests with shareholders."
Ms. Zheng concluded, "We believe management interests are in line with shareholders and our outstanding performance is the best way to reward our shareholders."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and the largest cord blood
banking operator in China in terms of geographical coverage and is the only
cord blood bank operator with multiple licenses. Under the current PRC
government regulations, only one licensed cord blood bank operator is
permitted to operate in each licensed region and only six licenses have been
|SOURCE China Cord Blood Corporation|
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