ChinaEdu Reinstates Open Market Buyback
September 21 2009 - 7:00AM
PR Newswire (US)
BEIJING, Sept. 21 /PRNewswire-Asia-FirstCall/ -- ChinaEdu
Corporation (NASDAQ:CEDU) ("ChinaEdu" or the "Company"), an
educational services provider in China, today announced that the
Company will reinstate the share buyback program authorized by the
Board of Directors in June 2008 as the management team believes the
current price levels do not reflect the fundamental strength of the
Company's business. The method, timing and amount of any
repurchases will depend on market conditions, the trading price of
the ADSs and other factors, and such repurchases will be subject
to, and in compliance with, relevant rules under United States
securities regulations. The share repurchase program may be
suspended, modified or discontinued at any time. About ChinaEdu
ChinaEdu Corporation is an educational services provider in China,
incorporated as an exempted limited liability company in the Cayman
Islands. Established in 1999, the Company's primary business is to
provide comprehensive services to the online degree programs of
leading Chinese universities. These services include academic
program development, technology services, enrollment marketing,
student support services and finance operations. The Company's
other lines of businesses include the operation of private primary
and secondary schools, online interactive tutoring services and
providing marketing and support for international curriculum
programs. The Company believes it is the largest service provider
to online degree programs in China in terms of the number of higher
education institutions that are served and the number of student
enrollments supported. The Company currently has 13 long-term,
exclusive contracts that generally vary from 10 to 50 years in
length. ChinaEdu also performs recruiting services for 17
universities through our nationwide learning center network. For
more information, please contact: Company Contacts: Lily Liu CFO
ChinaEdu Corporation Tel: +86-10-8418-6655 x1002 E-mail: S. Jimmy
Xia IR Manager ChinaEdu Corporation Tel: +86-10-8418-6655 x1150
E-mail: DATASOURCE: ChinaEdu Corporation CONTACT: Lily Liu, CFO,
+86-10-8418-6655 x1002, ; or S. Jimmy Xia, IR Manager,
+86-10-8418-6655 x1150, , both of ChinaEdu Corporation
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