Smart Share Global Limited Announces Extension of Share Repurchase Program
28 Setembro 2022 - 7:00AM
Smart Share Global Limited (“Energy Monster” or the “Company”), a
consumer tech company providing mobile device charging service,
today announced that its board of directors (the “Board”)
authorized a 12-month extension to its existing share repurchase
program (the “Share Repurchase Program”) through September 27,
2023. The Share Repurchase Program was originally approved by the
Company’s board of directors on September 28, 2021, under which the
Company may repurchase up to US$50.0 million of its shares through
September 27, 2022. As of September 26, 2022, the Company had
cumulatively repurchased approximately US$3.7 million of its ADSs
under the Share Repurchase Program.
The Company’s proposed repurchases may be made
from time to time through open market transactions at prevailing
market prices, in privately negotiated transactions, in block
trades and/or through other legally permissible means, depending on
the market conditions and in accordance with applicable rules and
regulations. The Company has no obligation to repurchase shares,
and the Company’s board of directors will review the Share
Repurchase Program periodically and may authorize adjustment of its
terms and size or suspend or discontinue the program. The Company
expects to fund the repurchases under this program with its
existing cash balance.
About Smart Share Global
Limited Smart Share Global Limited (Nasdaq: EM), or Energy
Monster, is a consumer tech company with the mission to energize
everyday life. The company is the largest provider of mobile device
charging service in China with the number one market share. The
company provides mobile device charging service through its power
banks, which are placed in POIs such as entertainment venues,
restaurants, shopping centers, hotels, transportation hubs and
public spaces. Users may access the service by scanning the QR
codes on Energy Monster’s cabinets to release the power banks. As
of June 30, 2022, the company had 6.0 million power banks in
895,000 POIs across more than 1,800 counties and county-level
districts in China.
Contact Us Investor Relations
Hansen Shi ir@enmonster.com
Safe Harbor Statement This
press release contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases,
forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "target," "aim,"
"estimate," "intend," "plan," "believe," "potential," "continue,"
"is/are likely to," or other similar expressions. Among other
things, the share repurchase program, as well as the Company’s
strategic plans, contain forward-looking statements. The Company
may also make written or oral forward-looking statements in its
reports filed with, or furnished to, the U.S. Securities and
Exchange Commission ("SEC"), in its annual reports 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 the Company’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and 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: Energy Monster’s strategies; its future business
development, financial condition and results of operations; the
impact of technological advancements on the pricing of and demand
for its services; competition in the mobile device charging service
industry; Chinese governmental policies and regulations affecting
the mobile device charging service industry; changes in its
revenues, costs or expenditures; the risk that COVID-19 or other
health risks in China or globally could adversely affect its
operations or financial results; general economic and business
conditions globally and in China and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks, uncertainties or factors is included in the
Company’s filings with the SEC. All information provided in this
press release is as of the date of this press release, and the
Company does not undertake any duty to update such information,
except as required under applicable law.
Smart Share Global (NASDAQ:EM)
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