BEIJING, June 22, 2018 /PRNewswire/ -- Tarena
International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a
leading provider of professional education services in China, today announced that its board of
directors has authorized an increase to the size of the share
repurchase plan it adopted on August 21,
2017 from US$30 million to
US$70 million and an extension of the
term of the plan to June 20, 2019.
Under the revised plan, the Company is authorized to repurchase up
to an aggregate value of US$70
million of the Company's shares until June 20, 2019. The other terms of the share
repurchase plan remain unchanged. The share repurchases may be made
from time to time in the open market and through privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. Tarena's board of
directors will review the share repurchase plan periodically, and
may further authorize adjustment of its terms and size. The Company
expects to fund repurchases made under this plan from its existing
cash balance and/or future cash provided by operating
activities.
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider
of professional education services in China. Through its innovative education
platform combining live distance instruction, classroom-based
tutoring and online learning modules, Tarena offers professional
education courses in IT and non-IT subjects. Tarena also offers kid
education programs. Its professional education courses provide
students with practical skills to prepare them for jobs in
industries with significant growth potential and strong hiring
demand. Since its inception in 2002, Tarena has trained over
539,000 students, cooperated with approximately 757 universities
and colleges and placed students with approximately 141,000
corporate employers in a variety of industries. For further
information, please visit http://ir.tedu.cn.
Safe Harbor Statement
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, and 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. Tarena may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including any business outlook and
statements about Tarena's beliefs and expectations, are
forward-looking statements. Many factors, risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: Tarena's goals and strategies; its future
business development, financial condition and results of
operations; its ability to continue to attract students to enroll
in its courses; its ability to continue to recruit, train and
retain qualified instructors and teaching assistants; its ability
to continually tailor its curriculum to market demand and enhance
its courses to adequately and promptly respond to developments in
the professional job market; its ability to maintain or enhance its
brand recognition, its ability to maintain high job placement rate
for its students, and its ability to maintain cooperative
relationships with financing service providers for student loans.
Further information regarding these and other risks, uncertainties
or factors is included in Tarena's filings with the U.S. Securities
and Exchange Commission. All information provided in this press
release is current as of the date of the press release, and Tarena
does not undertake any obligation to update such information,
except as required under applicable law.
For investor and media inquiries, please contact:
Lei Song
Investor Relations Contact
Tarena International Inc.
Tel: +86-10-5621-9451
Email: ir@tedu.cn
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SOURCE Tarena International, Inc.