Kingold Jewelry Announces Change in Payout Schedule for Special Cash Dividend of US$0.08 Per Share; Schedules 2014 Second Quarter Financial Results and Conference Call
WUHAN CITY, China, July 31, 2014 /PRNewswire/ — Kingold Jewelry, Inc. (“Kingold” or “the Company”) (NASDAQ: KGJI), one of China’s leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced an adjustment to the payout date of its previously announced special cash dividend of $0.08 per share of common stock. The dividend will now be payable no later than August 28, 2014 to stockholders of record as of June 30, 2014. The change is due to the Company requiring additional time to receive provincial government approvals in order to disperse the appropriate funds to stockholders. Kingold expects to receive an affirmative response shortly and will provide any further updates to stockholders. The Company has engaged Interwest Transfer Company, Inc., its transfer agent, as paying agent for the special dividend. The total amount of cash distributed in the dividend is expected to be approximately US$5.3 million.
2014 Second Quarter Conference Call Details
Kingold also announced that it will issue its second quarter financial results after the close of the stock market on Wednesday, August 13, 2014, and discuss these results in a conference call the following morning (Thursday, August 14, 2014) at 8:30 AM ET.
The dial-in numbers are:
Live Participant Dial In (Toll Free):
Live Participant Dial In (International):
The conference call will also be webcast live. To listen to the call, please go to the Investor Relations section of Kingold’s website at www.kingoldjewelry.com, or click on the following link: http://kingoldjewelry.equisolvewebcast.com/q2-2014.
The Company will also have an accompanying slide presentation available in PDF format on its homepage prior to the conference call.
About Kingold Jewelry, Inc.
Kingold Jewelry, Inc. (NASDAQ: KGJI), centrally located in Wuhan City, one of China’s largest cities, was founded in 2002 and today is one of China’s leading designers and manufacturers of 24-karat gold jewelry, ornaments, and investment-oriented products. The Company sells both directly to retailers as well as through major distributors across China. Kingold has received numerous industry awards and has been a member of the Shanghai Gold Exchange since 2003. For more information, please visit www.kingoldjewelry.com.
Business Risks and Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These include statements regarding Kingold’s expectations regarding receipt of necessary provincial government approvals to disperse dividend funds to stockholders. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Forward-looking statements are subject to a number of risks, including those contained in Kingold’s SEC filings available at www.sec.gov, including Kingold’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Kingold undertakes no obligation to update or revise any forward-looking statements for any reason.
Kingold Jewelry, Inc.
Bin Liu, CFO
Phone: +1-847-660-3498 (US) / +86-27-6569-4977 (China)
The Equity Group Inc.
Katherine Yao, Associate