BEIJING, July 5, 2013 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that, in order to improve the effectiveness of its equity incentive plan, the Company's Board of Directors has approved an adjustment in the exercise price of each of the Company's outstanding, unvested out-of-the-money options (the "Affected Options") to US$3.88 per ADS, effective July 3, 2013. The Affected Options represent rights to purchase 993,233 ordinary shares of the Company (1,986,466 ADSs).
In conjunction with the options exercise price adjustment, the Company's Board of Directors has approved a lock-up restriction on all ordinary shares underlying the Affected Options, pursuant to which the shares may not be sold for a period of six months beginning July 3, 2013, regardless of whether the Affected Options vest during such period.
About Bona Film Group Limited
Bona Film Group Limited (Nasdaq:BONA) is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests and produces movies in a variety of genres, owns and operates twenty movie theaters and manages a range of talented and popular Chinese artists.
For more information about Bona, please visit http://www.bonafilm.cn.
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Forward Looking Statements
This news release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties, Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
CONTACT: In China: Ms. Lingzi Gui Bona Film Group Limited Tel: +86-10-5928-3663-264 Email: email@example.com In the U.S.: The Piacente Group, Inc. Investor Relations Lee Roth Tel: (212) 481-2050 Email: firstname.lastname@example.org
Source:Bona Film Group Limited