China Cablecom Provides Clarification of Reverse Share Split

China Cablecom Provides Clarification of Reverse Share Split

SHANGHAI, March 1 /PRNewswire-FirstCall/ -- China Cablecom Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL)(NASDAQ:CABLW)(NASDAQ: CABLU), a joint-venture provider of cable television services in the People's Republic of China ("PRC"), confirmed today its previously announced one-for-three reverse share split, with trading of the Company's ordinary shares and units on the NASDAQ Capital Market to begin trading on a post split basis at the open of the trading day on March 2, 2010.

Any fractional interests in ordinary shares resulting from the one-for-three reverse split will be eliminated by rounding the number of shares issuable down to the nearest whole number of ordinary shares.

Pursuant to the terms of the Company's outstanding warrants expiring April 4, 2010, proportional adjustments are being applied as a result of the share consolidation, with each warrant to be exercisable for one-third of the number of shares it was previously exercisable for at an exercise price of $15.00 per share.

In addition, China Cablecom's units currently consist of one ordinary share and two warrants. China Cablecom's Board of Directors has authorized the Company's transfer agent to consolidate its outstanding units in the same manner as the ordinary shares. Consequently, any fractional units resulting from the reverse split will be eliminated in rounding down and the remaining warrants resulting from the cancellation of the fractional unit will be issued separately to the registered holder of the related unit.

The reverse stock split is intended to increase the trading price of the Company's ordinary shares to satisfy the minimum bid price of $1.00 minimum per share for continued listing on NASDAQ.

About China Cablecom

China Cablecom is a joint-venture provider of cable television services in the People's Republic of China, operating in partnership with a local state-owned enterprise ("SOE") authorized by the PRC government to control the distribution of cable TV services through the deployment of analog and digital cable services. China Cablecom has consummated the acquisition of a 55 percent economic interest in a cable network in Hubei province with paying subscribers exceeding 1,100,000. The Company originally acquired operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province in September 2007 by entering into a series of asset purchase and services agreements with a company organized by SOEs, owned directly or indirectly by local branches of State Administration of Radio, Film and Television in five different municipalities to serve as a holding company of the relevant businesses. China Cablecom now operates 28 cable networks with over 1.67 million paying subscribers. China Cablecom's strategy is to replicate the acquisitions by operating partnership models in other municipalities and provinces in the PRC and then introducing operating efficiencies and increasing service offerings in the networks in which it operates.

Safe Harbor Statement

The matters discussed in this press release contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation and in the Company's other written and oral reports are based on current Company expectations and are subject to numerous risks, uncertainties and assumptions, Any forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity.. The forward-looking statements herein speak only as of the date stated herein and might not occur or the actual results may differ materially in light of these risks, uncertainties, and assumptions. The Company undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You should carefully consider these factors, as well as the additional risk factors outlined in the filings that the Company makes with the U.S. Securities and Exchange Commission, including the Annual Report on Form 20-F filed on July 15, 2009.

CONTACT:
China Cablecom Holdings, Ltd.
Debra Chen
Phone: 917.499.8129
Email: debra@chinacablecom.net

Source: China Cablecom Holdings, Ltd.

CONTACT: China Cablecom Holdings, Ltd.: Debra Chen, +1-917-499-8129,
debra@chinacablecom.net

Web Site: http://www.chinacablecom.net/

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