Jiayuan Announces Extension of Existing Share Repurchase Program
BEIJING, Dec. 19, 2013
BEIJING, Dec. 19, 2013 /PRNewswire-FirstCall/ --Jiayuan.com International
Ltd. ("Jiayuan" or "the Company") (NASDAQ: DATE), operator of the largest
online dating platform in China, today announced that the Company's board of
directors has approved a twelve-month extension of its previously announced
share repurchase program dated December 21, 2012, which was scheduled to
expire on December 20, 2013.
Upon such extension, Jiayuan is authorized, but not obligated, to continue to
repurchase up to the remaining balance of the US$10 million of its American
Depositary Shares ("ADSs") for an additional twelve months, from December 21,
2013 to December 20, 2014. 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.
As of December 18, 2013, the Company hadspent approximately US$5.26 million
under its existing share repurchase program.
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. As a
pioneer in China's online dating market, Jiayuan ranks first in terms of
number of unique visitors, average time spent per user and average page views
per user among all online dating websites in China in 2012, according to
iResearch. Jiayuan recorded an average of 5.4 million monthly active user
accounts in the third quarter of 2013. Every two of Jiayuan's American
Depositary Shares represent three ordinary shares.
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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