BEIJING, Aug. 27, 2014 /PRNewswire/ -- Youku Tudou Inc.
(NYSE: YOKU), China's leading
Internet television company ("Youku Tudou" or the "Company"), today
announced that the board of the Company has approved a new share
repurchase program whereby Youku Tudou may purchase its own
American depositary shares ("ADSs") with an aggregate value of up
to US$300 million. The Company
expects to fund the repurchase out of its existing cash balance,
including cash generated from its operations. The proposed share
repurchase may be effected on the open market at prevailing market
prices and/or in negotiated transactions off the market from time
to time as market conditions warrant in accordance with applicable
requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S.
Securities Exchange Act of 1934, as amended.
About Youku Tudou Inc.
Youku Tudou Inc. (NYSE: YOKU) is China's leading Internet television company.
Its Youku and Tudou Internet television platforms enable
users to search, view and share high-quality video content quickly
and easily across multiple devices. Its Youku brand and Tudou
brand are among the most recognized online video brands in
China. Youku Tudou's
American depositary shares, each representing 18 of Youku Tudou's
Class A ordinary shares, are traded on the NYSE under the symbol
"YOKU."
Safe Harbor Disclosure
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. These forward-looking statements
can be identified by terminologies such as "may," "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"aims," "estimates," "confident," "likely to" and similar
statements. Among other things, the expectations with respect to
the future developments of the online video market in China and the Company, as well as the
Company's strategic and operational plans, contain forward-looking
statements. Forward-looking statements involve inherent
risks, uncertainties and assumptions. Actual results could
differ materially from those projected in our forward-looking
statements due to such risks, uncertainties and other
factors. Important factors that could affect actual results
are discussed in the Company's filings with the Securities and
Exchange Commission (the "SEC"), including, but not limited to, the
risks discussed under Item 3D "Risk Factors" in the Company's 2013
Annual Report on Form 20-F. Readers are encouraged to read
the Company's filings to learn more about the risk factors
associated with the Company's business. All information
provided in this press release is current as of the date of the
press release, and the Company undertakes to update such
information, except as required under applicable law.
Additional Information
For more information, please contact:
Ryan Cheung
Corporate Finance Senior Director
Youku Tudou Inc.
Tel: (+8610) 5885-1881 x6090
Email: ryan.cheung@youku.com
SOURCE Youku Tudou Inc.