Jiayuan Announces Share Repurchase Program
BEIJING, Dec. 21, 2012
BEIJING, Dec. 21, 2012 /PRNewswire-FirstCall/ -- Jiayuan.com International
Ltd. ("Jiayuan" or "the Company") (NASDAQ: DATE), operator of the largest
online dating platform in China, today announced that its board of directors
has approved a new US$10 million share repurchase program.
The program is effective immediately and permits the Company to purchase up to
US$10 million of its American Depositary Shares, or ADSs, over a period of
twelve months commencing from the date of this announcement. Purchases under
this authorization may be made from time to time on the open market at
prevailing market prices or in privately negotiated transactions, pursuant to
a plan adopted by the board of directors in accordance with Rule 10b5-1 and
Rule 10b-18 of the Securities Exchange Act. The timing of the purchases and
the amount of shares purchased will be determined by the Company's management
based on its evaluation of market conditions, trading price, applicable
securities laws, and other factors. The Company's board of directors will
review the share repurchase program periodically, and may authorize the
adjustment of its terms and size accordingly. The share repurchase program
will be funded by the Company's available cash balance.
Jiayuan.com International Ltd. ("Jiayuan") (NASDAQ: DATE) operates the largest
online dating platform in China. Jiayuan is committed to providing a trusted,
effective, and user-focused online dating platform that addresses the dating
and marriage needs of China's rapidly growing urban singles population.
According to iResearch, Jiayuan.com ranked first in terms of number of unique
visitors and time spent among all online dating websites in China in 2011.
Every two of Jiayuan's American Depositary Shares represent three ordinary
For more information, please visit http://ir.jiayuan.com.
This press release contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Jiayuan may also make written or verbal forward-looking statements
in its periodic reports to the U.S. Securities and Exchange Commission, in its
annual report to shareholders, in press releases and other written materials
and in verbal statements made by its officers, directors or employees to third
parties. Statements that are not historical facts, including statements about
our beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the following: our
growth strategies; our future business development, including development of
new products and services; our ability to attract and retain users;
competition in the Chinese online dating markets; changes in our revenues and
certain cost or expense items as a percentage of our revenues; the outcome of
any litigation or arbitration; the expected growth of the number of Internet
and broadband users in China; Chinese governmental policies relating to the
Internet and online dating websites and general economic conditions in China
and elsewhere. Further information regarding these and other risks is included
in our documents filed with the U.S. Securities and Exchange Commission.
Jiayuan does not undertake any obligation to update any forward-looking
statement, except as required under applicable law. All information provided
in this press release is as of the date of the press release, and Jiayuan
undertakes no duty to update such information, except as required under
For investor and media inquiries, please contact:
Jiayuan.com International Ltd.
+86 (10) 6442-2321
Brunswick Group LLP
+86 (10) 5960-8600
Brunswick Group LLP
+1 (212) 333-3810
SOURCE Jiayuan.com International Ltd.
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