BEIJING, Nov. 15, 2016 /PRNewswire/ -- NetEase, Inc.
(NASDAQ: NTES) ("NetEase" or the "Company"), one of China's leading internet and online game
services providers, today announced that its Board of Directors has
approved a new share repurchase program of up to US$1.0 billion of the Company's outstanding
American Depositary Shares (ADSs) for a period not to exceed 12
months.
Under the terms of the approved program, NetEase may repurchase
its issued and outstanding ADSs in open-market transactions on the
NASDAQ Global Select Market. The timing and dollar amount of
repurchase transactions will be subject to the Securities and
Exchange Commission (SEC) Rule 10b-18 requirements. It is
also expected that such repurchases will be effected pursuant to a
plan in conformity with SEC Rule 10b5-1. The extent to which
NetEase repurchases its ADSs will depend upon a variety of factors,
including market conditions, regulatory requirements and other
corporate considerations, as determined by NetEase's management
team. The repurchase program may be suspended or discontinued at
any time. NetEase plans to fund repurchases made under this program
from available working capital.
About NetEase, Inc.
NetEase, Inc. (NASDAQ: NTES) is a leading internet
technology company in China.
Dedicated to providing online services centered around content,
community, communication and commerce, NetEase develops and
operates some of China's most
popular PC-client and mobile games, advertising services, e-mail
services and e-commerce platforms. In partnership with Blizzard
Entertainment, Mojang AB (a Microsoft subsidiary) and other global
game developers, NetEase also operates some of the most popular
international online games in China. For more information, please
visit: http://ir.netease.com/.
Forward Looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward-looking statements by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
The accuracy of these statements may be impacted by a number of
business risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including
risks related to: the risk that the share repurchase program will
not increase shareholder value; and other risks outlined in
NetEase's filings with the Securities and Exchange Commission.
NetEase does not undertake any obligation to update this
forward-looking information, except as required under applicable
law.
Contact for Media and Investors:
Juliet Yang
NetEase, Inc.
hzyangyy@corp.netease.com
Tel: (+86) 571-8985-3378
Brandi Piacente
Investor Relations
brandi@corp.netease.com
Tel: (+1) 212-481-2050
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SOURCE NetEase, Inc.