March 1 morning News, according to foreign media reports, Shanda Games (Nasdaq:game) announced today that the company's board of Trustees has approved a value of 150 million dollar share repurchase plan, will be implemented in the next 24 months. Shanda Games today released the quarterly and Full-year results for the 2009 fiscal year ended December 31, 2009. The financial results show that the 2009 fiscal year in the quarter of the net revenue of 195.7 million U.S. dollars, an increase of 39%, the chain increase of 5%; net profit of 60.8 million U.S. dollars, the year-on-year increase of 44%, the chain increase of 13%. Shanda's board of Directors has approved a stock repurchase plan, under which Shanda games are authorized to repurchase American depository vouchers of up to $150 million in value for the next 24 months, based on market conditions, stock prices and other factors, and in accordance with the relevant US securities regulations. Shanda Games may be traded on the open market, or through bulk trading or other means, which may include derivatives trading. Shanda Games may suspend or terminate stock purchase activities at any time.
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