BEIJING, Dec. 21, 2012 /PRNewswire-FirstCall/ -- Jiayuan.com International Ltd. ("Jiayuan" or "the Company") (NASDAQ: DATE), operator of the largest online dating platform in China, today announced that its board of directors has approved a new US$10 million share repurchase program.
The program is effective immediately and permits the Company to purchase up to
US$10 million of its American Depositary Shares, or ADSs, over a period of twelve months commencing from the date of this announcement. Purchases under this authorization may be made from time to time on the open market at prevailing market prices or in privately negotiated transactions, pursuant to a plan adopted by the board of directors in accordance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act. The timing of the purchases and the amount of shares purchased will be determined by the Company's management based on its evaluation of market conditions, trading price, applicable securities laws, and other factors. The Company's board of directors will review the share repurchase program periodically, and may authorize the adjustment of its terms and size accordingly. The share repurchase program will be funded by the Company's available cash balance.
Jiayuan.com International Ltd. ("Jiayuan") (NASDAQ: DATE) operates the largest online dating platform in China. Jiayuan is committed to providing a trusted, effective, and user-focused online dating platform that addresses the dating and marriage needs of China's rapidly growing urban singles population. According to iResearch, Jiayuan.com ranked first in terms of number of unique visitors and time spent among all online dating websites in China in 2011. Every two of Jiayuan's American Depositary Shares represent three ordinary shares.
For more information, please visit http://ir.jiayuan.com.Forward-Looking Statements