ZDNet reckons the announcement will go something like this:
Our future work with Flash on mobile devices will be focused on enabling Flash developers to package native apps with Adobe AIR for all the major app stores. We will no longer adapt Flash Player for mobile devices to new browser, OS version or device configurations. Some of our source code licensees may opt to continue working on and releasing their own implementations. We will continue to support the current Android and PlayBook configurations with critical bug fixes and security updates.
And while those words aren't in the full press release, the intention is the same:
Focusing Flash resources on delivering the most advanced PC web experiences, including gaming and premium video, as well as mobile apps.
While Flash still runs a major part of the web, it has never taken off on mobile as a developer environemnt in the way that Adobe hoped for. This may leave white gaps in some website designs as mobile devices attempt to render full site pages, but do we really need to have Flash on mobile? Hasn't the world moved on with HTML5 taking up the mantle of rich content?