HONG KONG, Aug. 28, 2017 /PRNewswire/ -- China Cord Blood Corporation (NYSE: CO) (the "Company") today announced that Magnum Opus Second (PTC) Limited, an entity holding ordinary shares on behalf of certain directors and members of senior management, has adopted a 10b5-1 sales plan to sell up to 2,275,700 ordinary shares from time to time in ordinary brokerage transactions, primarily to meet the individuals' personal needs.
Under the Company's corporate trading policies, a 10b5-1 sales plan is recommended for directors and members of senior management in order to comply with insider trading principles and reduce the possibility of opportunistic selling by management. In accordance with such sales plan, the trustee intends to sell up to an aggregate of 2,275,700 ordinary shares over time, representing approximately 1.9% of the Company's total outstanding shares as of August 2017.
Rule 10b5-1 allows corporate insiders to establish prearranged written plans to buy or sell a specified number of shares of company stock over a predetermined period of time. Insiders may adopt such plans when they are not in possession of material inside information in order to gradually change their investment portfolio to minimize the market effects of significant stock sales or purchases by spreading them out over an extended period of time and to avoid concerns about initiating stock transactions while in possession of material nonpublic information.
Any sales by the Company's insiders may also be made in privately negotiated transactions, in block trades or other legally permissible ways from time to time depending on market conditions and in accordance with applicable rules and regulations.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and no new licenses will be granted before 2020 in addition to the seven licenses authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
SOURCE China Cord Blood Corporation