Hurray! News
Hurray! Announces Board Changes
BEIJING, May 17, 2006/Xinhua-PRNewswire/ -- Hurray! Holding Co.,
Ltd. (Nasdaq: HRAY - News), a leader in wireless music distribution
and other wireless value-added services, artist development and
music production, and wireless value-added services management software
in China, today announced the resignation of Mr. Scott Bonham from
its board. Mr. Bonham has served as a director since 2003 when he
led his firm’s venture investment in Hurray!.
Concurrently, independent director Mr. Suberna Shringla has been
appointed chairman of Hurray!’s nomination committee, as well as
a member of the company’s audit and compensation committees, roles
that Mr. Bonham previously held. Effective with the board changes,
four of Hurray!’s seven directors qualify as independent directors,
maintaining full compliance with Nasdaq director independence requirements.
Commenting on this event, Hurray!’s Chairman and Chief Executive
Officer, QD Wang, said, “On behalf of the Board and the company,
I would like to express our appreciation to Scott for his contribution
to the Company’s growth and success in the past three years.”
About Hurray! Holding Co., Ltd.
Hurray! is a leading provider of music and music-related products
such as ringtones, ringbacktones, and truetones to mobile users
in China through SMS, IVR, RBT, WAP, MMS and Java wireless value-added
services platforms over mobile networks and through the Internet.
The company also provides a wide range of other wireless value-added
services to mobile users in China, including games, pictures and
animation, community, and other media and entertainment services.
In addition, Hurray! is a leader in artist development, music production
and offline and online distribution in China through its majority
controlled record labels Huayi Brothers Music and Hurray! Freeland
Music.
Hurray! also designs, develops, sells and supports a service provisioning
and management software for mobile operators in China to manage
wireless value-added services.
Forward-looking Statements
This press release contains statements of a forward-looking nature.
These statements are made under the "safe harbor" provisions
of the U.S. Private Securities Litigation Reform Act of 1995. You
can identify these forward-looking statements by terminology such
as "will," "expects," "believes" and
similar statements. The accuracy of these statements may be impacted
by a number of business risks and uncertainties that could cause
actual results to differ materially from those projected or anticipated,
including risks related to: any uncertainties associated with Mr.
Suberna Shringla serving as chairman of Hurray!’s nominating committee,
as well as a member of the company’s audit and compensation committee;
Hurray!'s ability to maintain its leading position in the market
for wireless value-added services in China, including its ability
to anticipate or address changes in technologies and user preferences
in an effective and timely manner; the risk that Hurray's profitability
may be adversely affected in future periods for a variety of reasons,
many of which may be beyond management's control; the state of Hurray!'s
relationships with China's mobile operators; and other risks outlined
in Hurray!'s filings with the Securities and Exchange Commission,
including its registration statement on Form F-1, as amended. Hurray!
does not undertake any obligation to update this forward-looking
information, except as required under applicable law.
For more information, please contact:
Phoebe Meng
Investor Relations Manager
Tel: 8610-6518-8989 x 6806
yfmeng@hurray.com.cn
SOURCE: Hurray! Holding Co., Ltd. |
