Purchase of GigaMedia Shares by CEO Cheng-Ming Huang

Rhea-AI Summary

On September 10, 2020, GigaMedia Limited (NASDAQ: GIGM) announced that CEO Cheng-Ming Huang purchased 68,737 shares at an average price of $2.867 on September 4, 8, and 9. This acquisition was made within an open window period, adhering to company regulations. Huang now owns a total of 1,051,996 shares, representing approximately 9.52% of GigaMedia. The company, headquartered in Taipei, is a leader in digital entertainment services in Taiwan and Hong Kong, focusing on mobile and casual games.

Positive

• CEO Cheng-Ming Huang increased his stake in GigaMedia by acquiring 68,737 shares.
• Huang now holds 1,051,996 shares, representing approximately 9.52% ownership.

Negative

• None.

TAIPEI, Sept. 10, 2020 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced that its Chief Executive Officer Cheng-Ming Huang a.k.a. James Huang has purchased a total of 68,737 shares of GigaMedia stock by Pacific Star Universal Group Ltd. at an average price of $2.867 on September 4^th, 8^th and 9^th, 2020. The purchases were made during an open window period and in full compliance with all company and legal guidelines.

Mr. Cheng-Ming Huang now holds a total of 1,051,996 shares, an ownership of around 9.52% in the Company.

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia's digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2020.

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SOURCE GigaMedia Limited