Ctrip Announces the Adoption of a Shareholder Rights Plan
SHANGHAI, China, Nov. 23 /Xinhua-PRNewswire-FirstCall/ -- 2007-Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China, today announced that its Board of Directors has adopted a shareholder rights plan. The rights plan is designed to protect the best interests of Ctrip and its shareholders.
One right will be distributed with respect to each ordinary share of Ctrip outstanding at the closing of business on December 3, 2007. Initially, the Rights will be attached to the certificates representing outstanding ordinary shares, and no separate Rights certificates will be distributed. The Rights will become exercisable only if a person or group obtains ownership of 20% or more of Ctrip's voting securities (including by acquisition of Ctrip's American Depositary Shares representing ordinary shares). The right exercise price is US$700.00 per right to purchase one ordinary share. The rights plan will continue in effect until November 23, 2017, unless the plan is terminated by Ctrip or the rights are redeemed by Ctrip before the plan expires.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip aggregates information on hotels and flights and enables customers to make informed and cost-effective hotel and flight bookings. Ctrip targets primarily business and leisure travelers in China who do not travel in groups. These travelers form a traditionally under-served yet fast-growing segment of the travel industry in China. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.
For Further Information
Tracy Cui
Ctrip.com International, Ltd.
Tel: +86-21-3406-4880 ext. 12216
Email: jrcui@ctrip.com
SOURCE Ctrip.com International, Ltd.
Source: PR Newswire (November 23, 2007 - 9:00 AM EST)
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