Mediaboss Marketing

SHANGHAI, Feb. 14, 2012 /PRNewswire-Asia/ -- Shanda Interactive Entertainment Limited, incorporated in the Cayman Islands ("Shanda" or the "Company") (Nasdaq: SNDA - News), a leading interactive entertainment media company in China, announced today that, at an extraordinary general meeting held today, the Company's shareholders voted in favor of the proposal to approve the previously announced Agreement and Plan of Merger dated November 22, 2011 (the "Merger Agreement") among the Company, Premium Lead Company Limited ("Parent"), a British Virgin Islands business company jointly owned by Mr. Tianqiao Chen, Chairman of the Board, Chief Executive Officer and President of Shanda, his wife Ms. Qian Qian Chrissy Luo, who is a non-executive director of Shanda, and his brother Mr. Danian Chen, who is the Chief Operating Officer and a director of Shanda, and New Era Investment Holding Ltd., a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub will be merged with and into Shanda with Shanda surviving the merger as a wholly owned subsidiary of Parent.

Approximately 100.0% of the Company's total outstanding ordinary shares voted in person or by proxy at today's extraordinary general meeting. Of the ordinary shares voted in person or by proxy at the extraordinary general meeting, approximately 87.3% were voted in favor of the proposal to approve the Merger Agreement and the transactions contemplated by the Merger Agreement, including the merger, and approximately 87.2% were voted in favor of the proposal to authorize the directors of the Company to do all things necessary to give effect to the Merger Agreement.

All closing conditions set forth in the Merger Agreement have been satisfied or waived. The parties expect to complete the merger as soon as practicable, as a result of which completion Shanda will become a privately held company wholly owned by Parent and Shanda's American depository shares will no longer be listed on the Nasdaq Global Select Market.

About Shanda Interactive Entertainment Limited

Shanda is a leading interactive entertainment media company in China, offering a broad array of online entertainment content on an integrated service platform to a large and diverse user base. Shanda offers its high quality entertainment content through its subsidiaries and affiliates, including Shanda Games, Cloudary, Ku6 Media, and various other online community and business units. The broad variety of content ranges from massively multi-player online role-playing games (MMORPGs) and advanced casual games, to social network games, e-sports, literature, film, television, music, and video etc. By providing a centralized platform through which Shanda can deliver its own content as well as third-party content, Shanda allows its users to interact with thousands of other users while enjoying some of the best entertainment content available in China today. Shanda: "Interaction enriches your life". For more information about Shanda, please visit http://www.snda.com.

Contact

Shanda Interactive Entertainment Limited

Dahlia Wei, IR Associate Director

Elyse Liao, IR Senior Manager

Phone: +86-21-6058-8688 (Shanghai)

      +852-2851-0177 (Hong Kong)

Email: IR@snda.com

Christensen Investor Relations

China:

Christian Arnell

Phone: +86-10-5826-4939

Email: carnell@christensenir.com

United States:

Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@ChristensenIR.com

Original post:
Shanda Interactive Entertainment Limited Announces Shareholders' Approval of the Merger Agreement

SHANGHAI, Feb. 14, 2012 /PRNewswire-Asia/ -- Shanda Interactive Entertainment Limited, incorporated in the Cayman Islands ("Shanda" or the "Company") (Nasdaq: SNDA - News), a leading interactive entertainment media company in China, announced today the completion of the merger contemplated by the previously announced Agreement and Plan of Merger dated November 22, 2011 (the "Merger Agreement") among the Company, Premium Lead Company Limited ("Parent"), a British Virgin Islands business company jointly owned by Mr. Tianqiao Chen, Chairman of the board of directors, Chief Executive Officer and President of Shanda, his wife Ms. Qian Qian Chrissy Luo, who is a non-executive director of Shanda, and his brother Mr. Danian Chen, who is the Chief Operating Officer and a director of Shanda, and New Era Investment Holding Ltd., a wholly owned subsidiary of Parent ("Merger Sub"). As a result of the merger, Shanda became a wholly owned subsidiary of Parent.

Under the terms of the Merger Agreement, which was approved by the Company's shareholders at an extraordinary general meeting held today, each ordinary share of the Company ("Share") issued and outstanding immediately prior to the effective time of the merger, other than (a) the Shares and American depositary shares ("ADSs") beneficially owned by the Buyer Group (as defined in the Company's proxy statement dated January 13, 2012) and (b) the Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their appraisal rights under the Cayman Islands Companies Law (the "Dissenting Shares"), has been cancelled in exchange for the right to receive $20.675 and each ADS, each representing two Shares, represents the right to receive $41.35 (less $0.05 per ADS cancellation fees), in each case, in cash, without interest and net of any applicable withholding taxes.

Registered holders of Shares and ADSs represented by share or ADS certificates, other than the Dissenting Shares, will receive a letter of transmittal and instructions on how to surrender their certificates in exchange for the merger consideration and should wait to receive the letter of transmittal before surrendering their certificates. Payment will be made to surrendering registered ADS holders and holders of ADSs in un-certificated form as soon as practicable after The Bank of New York Mellon, the Company's Depositary, receives the merger consideration. For any questions relating to the surrender and payment procedures, holders of Shares may contact Computershare Trust Company, N.A., the Share paying agent, toll free at +1 800 546 5141 (or +1 781 575 2765 outside of the United States) and holders of ADSs may contact The Bank of New York Mellon toll free at +1 866 300 4353 (or +1 201 680 6921 outside of the United States).

The Company also announced today that it requested that trading of its ADSs on the Nasdaq Global Select Market (the "NASDAQ") be suspended beginning on February 15, 2012. The Company requested the NASDAQ to file Form 25 with the Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of the ADSs on the NASDAQ and the deregistration of the Company's registered securities. The Company intends to terminate its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing Form 15 with the SEC. The Company's obligations to file or furnish with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

About Shanda Interactive Entertainment Limited

Shanda is a leading interactive entertainment media company in China, offering a broad array of online entertainment content on an integrated service platform to a large and diverse user base. Shanda offers its high quality entertainment content through its subsidiaries and affiliates, including Shanda Games, Cloudary, Ku6 Media, and various other online community and business units. The broad variety of content ranges from massively multi-player online role-playing games (MMORPGs) and advanced casual games, to social network games, e-sports, literature, film, television, music, and video etc. By providing a centralized platform through which Shanda can deliver its own content as well as third-party content, Shanda allows its users to interact with thousands of other users while enjoying some of the best entertainment content available in China today. Shanda: "Interaction enriches your life". For more information about Shanda, please visit http://www.snda.com.

Contact

Shanda Interactive Entertainment Limited
Dahlia Wei, IR Associate Director
Elyse Liao, IR Senior Manager
Phone: +86-21-6058-8688 (Shanghai)
           +852-2851-0177 (Hong Kong)
Email: IR@snda.com

Christensen Investor Relations
China:
Christian Arnell
Phone: +86-10-5826-4939
Email: carnell@christensenir.com

United States:
Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

See the article here:
Shanda Interactive Entertainment Limited Announces Completion of Merger

14 February 2012

The number of captive insurance companies formed in the Cayman Islands increased markedly during 2011, a trend that is expected to continue into 2012, according to Cindy Scotland, the Managing Director of the Cayman Islands' Monetary Authority.

?While conditions in the international marketplace have been challenging to the formation of captives over the past several years, there continues to be solid interest in the Cayman Islands that translated into a 52% increase in captive formations in this jurisdiction in 2011,? said Scotland.

CIMA ended 2011 with 739 captives and 632 segregated portfolios registered in the Caymans. Further, the Cayman Islands continued to be the leading jurisdiction for healthcare captives. This was the primary line of business for 256 companies (35% of the total). Workers? compensation remained the second largest line of business with 161 companies (22%) providing this as their primary type of risk insured. The 739 active captives as at December 31, 2011, comprise the following: 419 pure captives (57%), 124 segregated portfolio companies (17%), 75 group captives (10%), 52 association captives (7%), 36 special purpose vehicles (5%), 32 open market insurers (4%) and one rent-a-captive.

Scotland said that already in the early weeks of 2012 CIMA's Insurance Division has processed five new captive license applications, with a further four applications in the initial stage of processing at the beginning of February.

CIMA noted that, globally, the captive market has been soft. Among the factors that have placed a downward pressure on captive formation across jurisdictions since the credit crisis have been the generally low investment returns for all types of investments and fears of another recession, coupled with the availability of commercial insurance at very low rates.

Gordon Rowell, Head of Insurance at CIMA, commented: ?In some cases this has dampened corporate sponsors? motivation to take on the expense of setting up a captive in order to self-insure. Nevertheless, industry players know the value of captives as a major part of organisations? risk management strategy. The industry has established a track record for robust risk management and in recent years captives and insurance managers have been quite efficient at maximising value despite the soft market.?

Concluding Scotland said: ?Given these factors, captive sponsors are seeking the greatest efficiencies and the choice of domicile for a captive becomes critical in achieving this value. The Cayman Islands has fared well because of a number of advantages. Captive participants have told us that in addition to the expertise of local service providers who have built up specialization, especially in the area of health care captive structuring, the jurisdiction is very cost competitive, the process for establishment of the captive is efficient, and the legislative and regulatory framework is stable and robust.?

A comprehensive report in our Intelligence Report series which studies the 20 main offshore jurisdictions which offer captive insurance regimes is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report11.asp

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Captive Insurers Flock To Cayman Islands

ATLANTA, Feb. 13, 2012 /PRNewswire/ -- Amid the current debate surrounding the Centers for Medicare & Medicaid Services (CMS) proposed regulations regarding the development of Accountable Care Organizations (ACO), many leaders in the healthcare industry are looking to successful ACO and ACO-like initiatives for guidance on best practices and critical success factors. At this year's Healthcare Information and Management Systems Society (HIMSS) Annual Conference and Exhibition, Craneware's clients, Todd Craghead, Vice President of the Revenue Cycle at Intermountain Healthcare, and Dale Sanders, CIO of the Cayman Islands Health Services Authority (HSA), will share lessons learned from their organizations on how to improve the business of healthcare through revenue integrity workflow processes.

The presentation, "Implementing Sustainable Revenue Cycle Workflows" will be held on Friday, February 24 at 10:00am – session 205, and will highlight key areas for C-suite executives to emphasize when working to improve an organization's operational efficiency and financial performance. Todd Craghead of Intermountain, the internationally-recognized non-profit health system cited as a "bellwether in healthcare" by President Obama, will speak alongside Dale Sanders of the Cayman Islands HSA, a public healthcare system comprised of two hospitals and six clinics with an insurance company in the Cayman Islands. These industry leaders will share their own unique experiences in how improvements to revenue cycle management processes through workflow technology can lay the foundation for success, regardless of whether the organization participates in an ACO.

"Our main priority at Intermountain is to provide high-quality yet cost-effective care to our community – goals that are strategically very similar to ACO objectives," said Craghead. "Based on our experience, organizations cannot achieve these revenue integrity goals without effective collaboration and automated technology to enhance compliance and improve charge capture. I am pleased to have the opportunity to share my experience with the HIMSS community alongside Dale Sanders and with the support of Craneware."

"A little over two years ago, we started the journey towards major healthcare reform in the Cayman Islands, starting first with reforms to pricing, insurance billing and the revenue cycle," said Dale Sanders, CIO of the Cayman Islands Health Services Authority (HSA).  "Prior to this, the national system had 14 straight years of eight-figure financial loss.  The first two years of the reform effort resulted in the first two years of profit in the system's history.  It's an amazing turnaround.  We are now implementing a point-of-care, real-time claims adjudication system that will cut the overhead of coding and claims processing by 60%.  It's an honor for me to share this story of the Cayman Islands as a national role model for healthcare reform, particularly together with Todd Craghead and Intermountain, where I spent the first 10 years of my healthcare career. "

"The ACO movement has sharpened the healthcare industry's attention to the importance of revenue integrity," said Keith Neilson, Craneware CEO. "Craneware is committed to helping healthcare organizations achieve optimal, appropriate reimbursement, increased operational efficiency, and compliance. It is gratifying to support our clients as they share best practices for achieving revenue integrity with the HIMSS community. We are glad Craneware software is a core component of these customers' revenue integrity accomplishments, normalizing data at the points where clinical information transforms into revenue transactions, while creating visibility and accountability for sustaining financial health."

Craneware, the market leader in automated revenue integrity solutions, is deeply committed to promoting revenue integrity within healthcare organizations. As part of these efforts Craneware maintains its Revenue Integrity Round Table blog at StoptheLeakage.com. Craneware invites all those in healthcare and related fields join the more than 200 members already committed to the movement to prevent revenue leakage by building a structure to support optimal revenue integrity. 

About Intermountain Healthcare
Intermountain Healthcare is a nonprofit system based in Salt Lake City, Utah, with 23 hospitals, more than 185 clinics, a Medical Group with over 900 employed physicians; a health plans division called SelectHealth, and other related health services.  Intermountain is the largest healthcare provider in the Intermountain West, with over 32,000 employees.  They are widely recognized as a leader in clinical quality and efficient healthcare delivery, having been ranked 12 consecutive years in a row among America's top 100 integrated healthcare systems. 

About Cayman Islands Health Services Authority
The Cayman Islands Health Services Authority provides primary healthcare and public health services through the 124-bed Cayman Islands Hospital (104 inpatient and 12 observation beds) and the 18-bed Faith Hospital on Cayman Brac. Ancillary services are offered at six district health centers, and clinics for dental and eye care.

About Craneware
Craneware (AIM: CRW.L) is the leader in automated revenue integrity solutions that improve financial performance for healthcare organizations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge, code and retain earned revenue for patient care services and supplies. This optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com and stoptheleakage.com.

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Intermountain Healthcare and Cayman Islands Health Services Authority Executives to Present on Revenue Integrity at ...