BEIJING, June 11, 2018 /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
approved an amendment to its share repurchase program on
June 11, 2018 authorizing the
repurchase of up to an additional US$1.0
billion of the Company's outstanding American Depositary
Shares (ADSs). This expands the $1.0
billion repurchase program that was approved on November 15, 2017 for a period not to exceed 12
months, bringing the total authorized repurchase amount to
US$2.0 billion.
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, e-commerce businesses, advertising services and
e-mail services. 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:
Margaret Shi
NetEase, Inc.
ir@service.netease.com
Tel: (+86) 571-8985-2955
Brandi Piacente
Investor Relations
brandi@corp.netease.com
Tel: (+1) 212-481-2050
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SOURCE NetEase, Inc.