Jiayuan Announces Share Repurchase Program

BEIJING, Dec. 22, 2011 — /PRNewswire-Asia-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 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 adjustment of its terms and size accordingly. The share repurchase program will be funded by the Company’s available cash balance.”We are confident in the future of Jiayuan’s business as we continue to benefit from our clear leadership in China’s online dating industry,” said Ms. Rose Gong, chief executive officer of Jiayuan. “Jiayuan has a strong cash position currently, and we believe that this program represents an appropriate use of cash at this time.”

 

Read more here: http://www.sacbee.com/2011/12/22/4139646/jiayuan-announces-share-repurchase.html#storylink=cpy

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