BEIJING, Nov. 26, 2018 /PRNewswire/ -- Puxin Limited
(NYSE: NEW) ("Puxin" or the "Company"), a successful
consolidator of the after-school education industry in China, today announced that members of its
senior management team, including Mr. Yunlong Sha, Chairman and Chief Executive
Officer, and Mr. Peng Wang, Chief
Financial Officer, will use their personal funds to purchase the
Company's American Depositary Shares on the open market for an
aggregate amount up to a maximum of US$10.0
million within the next 6 months, subject to the
restrictions of, and compliant with, the applicable laws and
regulations and the Company's securities trading policy.
Mr. Sha commented, "This share repurchase demonstrates
management's confidence in the long-term prospects of our business.
We continue to implement our strategy and strongly believe we are
ideally positioned to benefit from the further consolidation of
China's after-school education
industry leveraging our extensive experience in rapidly integrating
and improving operations and management of acquired schools."
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and 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. 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, 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. Any statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements
that involve factors, risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: its goals and strategies, its ability to
achieve and maintain profitability, its ability to attract and
retain students to enroll in its courses, its ability to
effectively manage its business expansion and successfully
integrate businesses it acquired, its ability to identify or pursue
targets for acquisitions, its ability to compete effectively
against its competitors, its ability to improve the content of its
existing courses or to develop new courses, and relevant government
policies and regulations relating to the Company's corporate
structure, business and industry. Further information regarding
these and other risks is included in the Company's filings with the
U.S. Securities and Exchange Commission. All information provided
in this press release is current as of the date of the press
release, and the Company does not undertake any obligation to
update such information, except as required under applicable
law.
About Puxin Limited
Puxin Limited (NYSE: NEW) ("Puxin" or the "Company") is a
successful consolidator of the after-school education industry in
China. Puxin has a strong
acquisition and integration expertise to effectively improve
education quality and operational performance of acquired schools.
Puxin offers a full spectrum of K-12 and study-abroad tutoring
programs designed to help students achieve academic excellence, as
well as prepare for admission tests and applications for top
schools, universities and graduate programs in China and other countries. The Company has
developed a business model effectively combining strategic
acquisitions and organic growth achieved through successful
post-acquisition integration, which has differentiated the Company
from other after-school education service providers in China.
For more information, please contact:
Puxin Limited
Phone: +86-10-6269-8930
E-mail: ir@pxjy.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
View original
content:http://www.prnewswire.com/news-releases/puxin-announces-senior-managements-share-purchase-plan-300754986.html
SOURCE Puxin Limited