Ruhnn Announces up to US$15 Million Share Repurchase Program
02 Giugno 2020 - 12:00PM
Ruhnn Holding Limited (“Ruhnn” or the “Company”) (NASDAQ: RUHN), a
leading internet key opinion leader (“KOL”) facilitator in China,
today announced its board of directors (the “Board”) has approved a
share repurchase program. Under the terms of the approved program,
the Company may repurchase up to US$15 million worth of its
outstanding American depositary shares (“ADSs”) from time to time
for a period not to exceed twelve months from the date hereof. The
Company expects to fund the repurchases made under this program
from its existing cash balance. The repurchases may be made in the
open market at prevailing market prices or through privately
negotiated transactions, including block trades. The purchases will
be made subject to restrictions relating to volume, price and
timing. The timing and extent of any repurchases will depend on
market conditions, the trading price of the Company’s ADSs,
regulatory requirements and other factors. The plan will be
implemented in compliance with relevant United States securities
rules and regulations and the Company’s securities trading policy,
in a manner that is consistent with the interests of shareholders.
The Board will review the share repurchase program periodically and
may authorize adjustment of its terms and size accordingly.
Lei Sun, founder, director and Chief Executive Officer of Ruhnn,
commented, “The share repurchase program reflects our commitment to
increasing shareholder value and our confidence in the Company’s
business fundamentals and long-term prospects.”
About Ruhnn Holding Limited
Ruhnn Holding Limited is a leading internet key opinion leader
(“KOL”) facilitator in China. The Company connects influential KOLs
who engage and impact their fans on the internet to its vast
commercial network to build the brands of fashion products. Ruhnn
pioneered the commercialization of the KOL ecosystem in China, and
operates under both full-service and platform models. The Company’s
full-service model integrates key steps of the e-commerce value
chain from product design and sourcing and online store operations
to logistics and after-sale services. The platform model promotes
products sold in third-party online stores and provides advertising
services on KOL’s social media spaces to third-party merchants. As
of December 31, 2019, the Company had 159 signed KOLs with an
aggregate of 201.5 million fans across major social media platforms
in China.
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. Among other things,
the business outlook and quotations from Ruhnn’s management in this
announcement as well as Ruhnn’s strategic and operational plans
contain forward-looking statements. Ruhnn may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K,
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 Ruhnn’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 goals and strategies; the
Company’s future business development, financial condition and
results of operations; trends in the internet KOL facilitator
industry in the PRC and globally; competition in the Company’s
industry; fluctuations in general economic and business conditions
in China; and the regulatory environment in which the Company
operates. Further information regarding these and other risks is
included in the Company’s filings with the SEC, including its
registration statement on Form F-1, as amended, and its annual
reports on Form 20-F. All information provided in this press
release is as of the date of this press release, and Ruhnn does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
For investor and media inquiries, please
contact:
In China:
Ruhnn Holding LimitedSterling SongSenior Director of Investor
RelationsTel: +86-571-2825-6700E-mail: ir@ruhnn.com
The Piacente Group, Inc.Emilie WuTel: +86-21-6039-8363E-mail:
ruhnn@thepiacentegroup.com
In the United States:
The Piacente Group, Inc. Brandi PiacenteTel:
+1-212-481-2050E-mail: ruhnn@thepiacentegroup.com
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