BEIJING, Dec. 18, 2018
/PRNewswire/ -- RYB Education, Inc. ("RYB" or the "Company")
(NYSE: RYB), a leading early childhood education service provider
in China, announced today that its
board of directors approved a share repurchase program whereby the
Company is authorized to buyback its ordinary shares, in the form
of American depositary shares, for an aggregate value of up to
$12 million over the next 12 months.
The proposed share repurchase may be effected on the open market at
prevailing market prices and/or in negotiated transactions off the
market from time to time as market conditions warrant in accordance
with applicable requirements of Rule 10b-18 and/or
Rule 10b-5 under the U.S. Securities
Exchange Act of 1934, as amended.
Ms. Ping Wei, Chief Financial Officer of RYB, said, "We are
fully committed to providing high-quality early childhood
educational products and services for our children, and we firmly
believe that the educational value of our products and services are
fully aligned with our shareholders' values. This proposed share
repurchase program not only demonstrates our conviction in our
Company's value but further underscores our determination and
ability to provide individualized, age-appropriate high-quality
education to nurture and inspire each child for his or her
betterment in life."
About RYB Education, Inc.
Founded on the core values of ''Care'' and ''Responsibility'',
"Inspire" and "Innovate," RYB Education, Inc. is a leading early
childhood education service provider in China. Since opening
its first play-and-learn center in 1998, the Company has grown and
flourished with the mission to provide high-quality, individualized
and age-appropriate care and education to nurture and inspire each
child for his or her betterment in life. During its nearly two
decades of operating history, the Company has built "RYB" into a
well-recognized education brand and helped bring about many new
educational practices in China's early childhood
education industry. RYB's comprehensive early childhood education
solutions meet the needs of children from infancy to 6 years old
through structured courses at kindergartens and play-and-learn
centers, as well as at-home educational products and services.
For more information, please visit http://ir.rybbaby.com
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," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company'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, including but not limited to the following: the
Company's brand recognition and market reputation; student
enrollment in the Company's teaching facilities; the Company's
growth strategies; its future business development, results of
operations and financial condition; trends and competition in
China's early childhood education
market; changes in its revenues and certain cost or expense items;
the expected growth of the Chinese early education market; Chinese
governmental policies relating to the Company's industry and
general economic conditions in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
RYB
Education, Inc.
Investor Relations
Tel: 86-10-8767-5752
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.