BEIJING,
Oct. 25, 2018
/PRNewswire/ -- New Oriental Education and
Technology Group Inc. (the "Company" or "New Oriental") (NYSE:
EDU), the largest provider of private educational services
in China, today announced that its founder and executive
chairman Michael Minhong Yu has
informed the Company of his intention to use his personal funds to
purchase the Company's American depositary shares ("ADS") on the
open market for an aggregate amount up to a maximum of US$30 million within the next three months. Mr.
Yu has agreed not to sell any shares or ADS of the Company held by
him or his affiliates for a period of six months commencing
today.
About New Oriental
New Oriental is the largest provider of private
educational services in China
based on the number of program offerings, total student enrollments
and geographic presence. New Oriental offers a wide range of
educational programs, services and products consisting primarily of
language training and test preparation, primary and secondary
school education, online education, content development and
distribution, overseas study consulting services, pre-school
education and study tour. New Oriental's ADSs, each of which
represents one common share, currently trade on the New York Stock
Exchange under the symbol "EDU."
For more information about New Oriental, please visit
http://www.neworiental.org/english/.
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the "safe harbor" provisions of 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," "confidence" and similar statements. New
Oriental may also make written or oral forward-looking statements
in its reports filed or furnished to the U.S. Securities and
Exchange Commission, in its annual reports to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements
about New Oriental's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding these and other risks is
included in New Oriental's annual report on Form 20-F and other
documents filed with the Securities and Exchange Commission.
All information provided in this press release is as of the date of
this press release, and New Oriental undertakes no duty to update
such information, except as required under applicable
law.
Contacts
For investor and media inquiries, please
contact:
Ms. Kathleen Wang
FTI Consulting
Tel: +852-3768-4546
Email: kathleen.wang@fticonsulting.com
Ms. Sisi Zhao
New Oriental Education & Technology Group Inc.
Tel: +86-10-6260-5568
Email: zhaosisi@xdf.cn
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SOURCE New Oriental Education and Technology Group Inc.