Tarena International, Inc. announces share buyback program
BEIJING, December 31, 2021 / PRNewswire / – Tarena International, Inc. (NASDAQ: TEDU) (“Tarena” or the “Company”), a leading provider of quality adult vocational and children’s education services and teens in China, today announced that its board of directors (“the board”) has authorized a share buyback program under which the company may purchase up to US $ 2.5 million of its shares over the next six months (the “Share Buyback Program”).
Redemptions offered by the Company may be made from time to time through open market transactions at prevailing market prices, privately traded transactions, block transactions and / or other legally permitted means, depending on market conditions and in accordance with applicable rules and regulations. . The timing and dollar amount of repurchase transactions will be subject to the rule of the Securities and Exchange Commission. 10b-18 and / or the requirements of Rule 10b5-1. The board will periodically review the share buyback program and may authorize adjustments to its conditions and size or suspend or discontinue the program. The Company plans to finance the buybacks under the share buyback program with its existing cash balance.
“The share buyback program illustrates our confidence in the continued development and long-term growth of our vocational education for adults and quality education for children and adolescents activities. We will continue to improve the quality of our comprehensive products and services and improve our operational efficiency in order to improve our financial performance and increase value for our shareholders and the Company. Said Mrs. Sun Ying, the general manager of Tarena.
About Tarena International, Inc.
Tarena is a leading provider of professional adult education and quality education services for children and adolescents in China. Through its innovative educational platform combining live distance education, classroom tutoring and e-learning modules, Tarena offers vocational training courses for adults in both computer and non-computer subjects. Its vocational training courses for adults provide students with practical skills to prepare them for jobs in sectors with significant growth potential and high demand for hiring. Tarena also offers quality education programs for children and adolescents, including courses in computer coding and robotic programming, etc., targeting students between the ages of three and eighteen.
Safe Harbor Declaration
This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the US Private Securities Litigation Reform Act of 1995. These statements forward-looking can be identified by terms such as “will fly”, “expect”, “anticipate”, “the future”, “intend”, “plan”, “believe”, “estimate”, “” “Confident” and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed or provided to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by Tarena. its officers, directors or employees to third parties. All statements that are not historical facts, including business prospects and statements regarding Tarena’s beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those of forward-looking statements. These factors and risks include, but are not limited to, the following: the impact of the COVID-19 epidemic; Tarena’s goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually adapt its program to market demand and improve its courses to respond adequately and rapidly to changes in the professional labor market; its ability to maintain or improve brand awareness, its ability to maintain a high placement rate for its students, and its ability to maintain cooperative relationships with providers of student loan financing services. Further information regarding these and other risks, uncertainties or factors is included in the documents filed by Tarena with the United States Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena assumes no obligation to update such information, except as required by applicable law.
For more information, please contact:
Investor Relations Contact
Tarena International, Inc.
Email: [email protected]
SOURCE Tarena International, Inc.