BEIJING, Dec. 31, 2021 /PRNewswire/ -- Tarena
International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a
leading provider of adult professional education and childhood
& adolescent quality education services in China, today announced that its board of
directors ("the Board") has authorized a share repurchase program
under which the Company may purchase up to US$2.5 million of its shares over the next six
months (the "Share Repurchase Program").
The Company's proposed repurchases may be made from time to time
through open market transactions at prevailing market prices, in
privately negotiated transactions, in block trades and/or through
other legally permissible means, depending on the market conditions
and in accordance with applicable rules and regulations. The timing
and dollar amount of the repurchase transactions will be subject to
the Securities and Exchange Commission Rule 10b-18 and/or Rule 10b5-1 requirements. The Board
will review the Share Repurchase Program periodically, and may
authorize adjustments of its terms and size or suspend or
discontinue the program. The Company expects to fund the
repurchases under the Share Repurchase Program with its existing
cash balance.
"The Share Repurchase Program illustrates our confidence in
pursuing the long-term development and growth of our adult
professional education and childhood & adolescent quality
education businesses. We will continue to upgrade the quality of
our comprehensive products and services and uplift our operational
efficiencies so as to improve our financial performance and
increase value to our shareholders and the Company." said Ms.
Ying Sun, the Chief Executive
Officer of Tarena.
About Tarena International, Inc.
Tarena is a leading provider of adult professional education and
childhood and adolescent quality education services in
China. Through its innovative
education platform combining live distance instruction,
classroom-based tutoring and online learning modules, Tarena offers
adult professional education courses in IT and non-IT subjects. Its
adult professional education courses provide students with
practical skills to prepare them for jobs in industries with
significant growth potential and strong hiring demand. Tarena also
offers childhood and adolescent quality education programs,
including computer coding and robotics programming courses, etc.,
targeting students aged between three and eighteen.
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: the impact of the COVID-19 outbreak;
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 further information, please contact:
Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn
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SOURCE Tarena International, Inc.