Kingsoft Cloud Announces US$100 Million Share Repurchase Program Plan
31 Março 2022 - 08:25AM
Kingsoft Cloud Holdings Limited (“we,” “Kingsoft Cloud” or the
“Company”) (NASDAQ: KC), a leading independent cloud service
provider in China, today announced that its board of directors has
authorized the Company to adopt a share repurchase program under
which the Company may repurchase up to US$100 million of its
ordinary shares in the form of American depositary shares (“ADSs”)
during a twelve-month period (the “Share Repurchase Program”).
The Company’s proposed repurchases, if adopted, may be made from
time to time on the open market at prevailing market prices, in
privately negotiated transactions, in derivative transactions,
and/or through other legally permissible means, depending on market
conditions and in accordance with applicable rules and regulations.
The timing, structure and dollar amount of repurchase transactions
will be subject to among others, the market conditions, terms to be
agreed with the relevant repurchase agent, the trading prices of
ADSs, and the Securities and Exchange Commission (the “SEC”) Rule
10b-18 and/or Rule 10b5-1 requirements. 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 plans to fund repurchases from
its existing cash balance.
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. 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 management in this
announcement, as well as Kingsoft Cloud’s strategic and operational
plans, contain forward-looking statements. Kingsoft Cloud may also
make written or oral forward-looking statements in its periodic
reports to the SEC, 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 fourth parties. Statements
that are not historical facts, including but not limited to
statements about Kingsoft Cloud’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: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s
future business development, results of operations and financial
condition; relevant government policies and regulations relating to
Kingsoft Cloud’s business and industry; the expected growth of the
cloud service market in China; the expectation regarding the rate
at which to gain customers, especially Premium Customers; Kingsoft
Cloud’s ability to monetize the customer base; fluctuations in
general economic and business conditions in China; the impact of
the COVID-19 to Kingsoft Cloud’s business operations and the
economy in China and elsewhere generally; China’s political or
social conditions and assumptions underlying or related to any of
the foregoing. Further information regarding these and other risks
is included in Kingsoft Cloud’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 Kingsoft Cloud does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
About Kingsoft Cloud Holdings
Limited
Kingsoft Cloud Holdings Limited (NASDAQ: KC) is a leading
independent cloud service provider in China. Kingsoft Cloud has
built a comprehensive and reliable cloud platform consisting of
extensive cloud infrastructure, cutting-edge cloud products and
well-architected industry-specific solutions across public cloud
and enterprise cloud.
For more information, please visit: http://ir.ksyun.com.
For investor and media inquiries, please
contact:
Kingsoft Cloud Holdings Limited
Nicole ShanTel: +86 (10) 6292-7777 Ext. 6300Email:
ksc-ir@kingsoft.com
Christensen In ChinaMr. Eric YuanPhone: +86-10-5900-1548E-mail:
Eyuan@christensenir.com
In USMs. Linda BergkampPhone: +1-480-614-3004E-mail:
lbergkamp@christensenir.com
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