MOGU Announces US$10 Million Share Repurchase Program
14 September 2020 - 6:20PM
Business Wire
MOGU Inc. (NYSE: MOGU) (“MOGU” or the "Company"), a leading
KOL-driven online fashion and lifestyle destination in China, today
announced that its board of directors has authorized a new share
repurchase program, where the Company is authorized to repurchase
up to US$10 million of its shares, effective until September 12,
2021. The Company expects to fund the repurchases under this
program with its existing cash balance.
The Company's proposed repurchases may be made from time to time
on the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. The Company's
board of directors will review the share repurchase program
periodically, and may authorize adjustment of its terms and
size.
Safe Harbor Statement
This announcement 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,” “aims,” “future,” “intends,”
“plans,” “believes,” “estimates,” “confident,” “potential,”
“continue” or other similar expressions. MOGU may also make written
or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission (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 third parties. Statements that are not historical
facts, including but not limited to statements about MOGU’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. Further information
regarding these and other risks is included in MOGU’s annual report
on Form 20-F and other documents filed with the SEC. All
information provided in this press release is as of the date of the
press release, and MOGU undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
About MOGU Inc.
MOGU Inc. (NYSE: MOGU) is a leading KOL-driven online fashion
and lifestyle destination in China. MOGU provides people with a
more accessible and enjoyable shopping experience for everyday
fashion, particularly as they increasingly live their lives online.
By connecting merchants, KOLs and users together, MOGU’s platform
serves as a valuable marketing channel for merchants, a powerful
incubator for KOLs, and a vibrant and dynamic community for people
to discover and share the latest fashion trends with others, where
users can enjoy a truly comprehensive online shopping
experience.
For more information on MOGU, please visit:
http://ir.mogu-inc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200914005340/en/
For investor and media inquiries:
MOGU Inc. Mr. Raymond Huang Phone: +86-571-8530-8201 E-mail:
ir@mogu.com
Christensen In China Mr. Eric Yuan Phone: +86-10-5900-1548
E-mail: eyuan@christensenir.com
In the United States Ms. Linda Bergkamp Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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