MOGU Announces US$8 Million Share Repurchase Program
May 14 2024 - 9:00AM
Business Wire
MOGU Inc. (NYSE: MOGU) (“MOGU” or the “Company”), a KOL-driven
online fashion and lifestyle destination in China, today announced
that its board of directors has authorized a new share repurchase
program, where the Company is authorized to repurchase up to US$8
million of its ordinary shares in the form of American Depositary
Shares, effective until May 13, 2025. The Company expects to fund
the repurchases under this program with its existing cash
balance.
The Company’s proposed repurchases may be made from time to time
on the open market at prevailing market prices, in 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. The Company’s
board of directors will review the share repurchase program
periodically, and may authorize adjustment to its terms and
size.
About MOGU Inc.
MOGU Inc. (NYSE: MOGU) is a KOL-driven online fashion and
lifestyle destination in China. MOGU provides people with a more
accessible and enjoyable shopping experience for everyday fashion,
particularly as they increasingly live their lives online. By
connecting merchants, KOLs and users together, MOGU’s platform
serves as a valuable marketing channel for merchants, a powerful
incubator for KOLs, and a vibrant and dynamic community for people
to discover and share the latest fashion trends with others, where
users can enjoy a truly comprehensive online shopping
experience.
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” and similar statements. MOGU may also make
written or oral forward-looking statements in its filings with the
U.S. Securities and Exchange Commission (the “SEC”), 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. Statements that are not historical
facts, including statements about MOGU’s beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. Further information regarding
these and other risks is included in our annual report on Form
20-F, the 6-K and other documents filed with the SEC. All
information provided in this press release is as of the date of
this press release, and MOGU does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514240273/en/
For investor and media inquiries, please contact: MOGU
Inc. Ms. Qi Feng +86-571-8530-8201 ir@mogu.com
Christensen In China Ms. Crystal Lai Phone: +852 2232 3907
E-mail: crystal.lai@christensencomms.com In the United States Ms.
Linda Bergkamp Phone: +1-480-614-3004 Email:
linda.bergkamp@christensencomms.com
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