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:
RYB Education, Inc.
The Piacente Group, Inc.
Tel: +86 (10) 5730-6200
In the United States:
The Piacente Group, Inc.
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