SHANGHAI, Sept. 23, 2021 /PRNewswire/ -- Four Seasons
Education (Cayman) Inc. ("Four Seasons Education" or the "Company")
(NYSE: FEDU), a leading Shanghai-based educational company dedicated
to providing comprehensive after-school education services with a
focus on high-quality math education, today announced that
effective on September 23, 2021, the
board of directors of the Company (the "Board") approved a share
repurchase program whereby Four Seasons Education is authorized to
repurchase its own ordinary shares in the form of American
depositary shares ("ADSs") with an aggregate value of up to
US$15.0 million during the next
twelve-month period. The Company plans to fund the repurchase
program out of its available working capital, existing cash balance
or future cash provided by operating activities.
The share repurchases under the 2021 program may be made from
time to time through various means, including open market purchases
and privately negotiated transactions. The per share price cap will
be determined from time to time at the discretion of the Chief
Executive Officer, as authorized by the Board. The proposed share
repurchase may be effected on the open market at prevailing market
prices, depending on a number of factors, including, but not
limited to, share price, trading volume and general market
conditions, along with the Company's working capital requirements,
general business conditions and other factors, as well as subject
to applicable rules of Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934,
as amended.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements, including the statements relating to the
Company's future financial and operating results, are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will,"
"expects," "believes," "anticipates," "intends," "estimates" and
similar statements. Among other things, management's quotations and
the Business Outlook section contain forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry. Potential risks and uncertainties include, but are not
limited to, those relating to its ability to attract new students
and retain existing students, its ability to deliver a satisfactory
learning experience and improving their academic performance, PRC
regulations and policies relating to the education industry in
China, general economic conditions
in China, and the Company's
ability to meet the standards necessary to maintain listing of its
ADSs on the NYSE or other stock exchange, including its ability to
cure any non-compliance with the NYSE's continued listing criteria.
All information provided in this press release is as of the date
hereof, and the Company undertakes no obligation to update any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results. Further
information regarding risks and uncertainties faced by the Company
is included in the Company's filings with the U.S. Securities and
Exchange Commission, including its annual reports on Form 20-F.
About Four Seasons Education (Cayman) Inc.
Four Seasons Education (Cayman) Inc. is a leading Shanghai based educational company dedicated
to providing comprehensive after-school education services with a
focus on high-quality math education. The Company's vision is to
unlock students' intellectual potential through high quality and
effective education that can profoundly benefit students' academic,
career and life prospects. The Company provides educational
programs that are primarily focused on elementary-level math and
have expanded in recent years to also include other subjects,
including physics, chemistry, and languages, and other grade
levels, such as middle school programs, as well as other programs
including interest-oriented programs and programs catering for
kindergarten students. The Company's proprietary educational
content is designed to cultivate students' interests and enhance
their cognitive and logic abilities. The Company develops its
educational content through a systematic development process and
updates it regularly based on student performance and feedback.
Such process allows the Company to effectively drive better
learning outcomes and serve students of different ages, aptitude
levels and learning objectives. The Company's faculty is led by a
group of experienced senior educators, including recognized
scholars and award-winning teachers. Over the years, the quality of
the Company's education services has been demonstrated by its
student outstanding academic performance.
For more information, please visit http://ir.sijiedu.com.
For investor and media inquiries, please contact:
In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6678
E-mail: IR@fsesa.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: fourseasons@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: fourseasons@tpg-ir.com
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SOURCE Four Seasons Education Inc.
