Aug. 30, 2011 /PRNewswire-Asia/ -- Giant Interactive Group Inc. (NYSE: GA), one of China's leading online game developers and operators, today announced that the New York Stock Exchange has established September 12, 2011 as the ex-dividend date for the special cash dividend declared by the Board of Directors on August 8, 2011. The dividend of $3.00 per ordinary share or ADS will be paid on September 9, 2011 to all shareholders or ADS holders of record as of August 31, 2011 (the "record date"). In addition, the New York Stock Exchange will apply its due bill procedures.
Pursuant to the rules of the New York Stock Exchange, when a dividend is declared in a per share amount that exceeds 25% of a company's stock price, the date on which that company's shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payable date. The Company understands from the NYSE that, because the $3.00 per share special cash dividend is expected to exceed 25% of the Company's current ADS price, the above-mentioned rules will apply and the ex-dividend date has been set by the NYSE as September 12, 2011, the first business day following the payment date for the special cash dividend. The Company further understands that pursuant to the due bill procedures, trades of its American Depositary Shares (ADSs) entered into before September 12, 2011 and settled after the record date (the "due bill period") will have a due bill attached for the special cash dividend payable on September 9, 2011. This means that holders who purchase these securities during the due bill period (even if the trades are to be settled after that due bill period) are entitled to receive the special cash dividend, and sellers who sell the securities during the due bill period (even if the trades are to be settled after the due bill period) are not entitled to the special cash dividend. Investors who enter into trades to purchase ADSs on or after September 12, 2011 will not be entitled to the special cash dividend payable on September 9, 2011.
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