SHENZHEN, China, Aug. 24 /PRNewswire-Asia-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("China Nepstar" or the "Company"), the largest drugstore chain in China based on the number of directly operated stores, today announced that the Board of Directors has declared a special cash dividend of US$1.50 per American Depositary Share (ADS), which represents a total value to shareholders of approximately US$156 million. The distribution of the special dividend is conditional upon the approval of the relevant PRC government authorities. The special cash dividend is payable before or around December 31, 2009, to shareholders of record as of the close of business on September 25, 2009.
China Nepstar's Board of Directors has approved the special dividend after carefully reviewing the Company's past 12 months performance, current financial position and expected cash flow.
Mr. Ian Wade, Chief Executive Officer of China Nepstar, commented, "This special dividend payment enables our shareholders to participate in the Company's strong cash situation and optimizes the Company's capital structure. We believe the dividend payment will not hinder China Nepstar's ability to commit to China's healthcare retail market. We will continue to stand behind our growth strategy, focus on store network expansion and operation efficiency improvement and enhance long term shareholder value."
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retail drugstore chain based on the number of directly operated stores. As of June 30, 2009, the Company had 2,312 stores across 64 cities, one headquarter distribution center and 12 regional distribution centers in China. China Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products and convenience products including consumables. China Nepstar's strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position. For further information, please go to http://www.nepstar.cn .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's strategic operational plans and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact: In China: Lucia Qian China Nepstar Chain Drugstore Ltd. Vice President, IR Tel: +86-755-2641-4065 Email: firstname.lastname@example.org In the United States: Dixon Chen Grayling Investor Relations Tel: +1-646-284-9403 Email: email@example.com Ivette Almeida Grayling Media Relations Tel: +1-646-284-9455 Email: firstname.lastname@example.org
|SOURCE China Nepstar Chain Drugstore Ltd.|
Copyright©2009 PR Newswire.
All rights reserved