E-House Announces Completion of First Share Repurchase Program and Commencement of Second Program
Holdings Limited (NYSE: EJ) (“E-House” or the “Company”), a leading real
estate services company in
completed its initial
approved a second share repurchase program.
E-House has been authorized, but not obligated, by its board of directors
to repurchase up to
(“ADSs”) within one year upon receiving such authorization. The repurchases
will be made from time to time on the open market at prevailing market prices
pursuant to a Rule 10b5-1 plan (which allows E-House to repurchase its ADSs
pursuant to the pre-determined terms under the plan at any time, including
during periods in which it may be in possession of material non-public
information), in negotiated transactions off the market, in block trades or
otherwise. The timing and extent of any purchases will depend upon market
conditions, the trading price of ADSs and other factors, and subject to the
restrictions relating to volume, price and timing in accordance with
applicable law. E-House expects to implement this share repurchase program in
a manner consistent with market conditions and the interests of its
shareholders. E-House’s board of directors will review the share repurchase
program periodically, and may authorize adjustment of its terms and size
accordingly. The Company plans to fund repurchases made under this program
from its available cash balance.
“After a successful initial share repurchase program, the board has decided
that there is still an excellent opportunity to acquire additional E-House
shares at attractive valuations. We continue to be confident in the long-term
prospects of our Company, and the authorization from the board to repurchase
additional shares is both an indication of our financial strength and our
commitment to enhancing shareholder value.”
About E-House
E-House (
estate services company in
experienced rapid growth and is
consulting services company with a presence in more than 30 cities. E-House
provides primary real estate agency services, secondary real estate brokerage
services and real estate consulting and information services, and has received
numerous awards for its innovative and high-quality services, including
“
and Appraisal Companies. E-House believes it has the largest and most
comprehensive real estate database system in
in-depth information covering residential and commercial real estate
properties in all major regions in
please visit http://www.ehousechina.com .
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements. These statements
are made under the “safe harbor” provisions of Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “may,” “intend,” “is currently
reviewing,” “it is possible,” “subject to” and similar statements. Among other
things, the Business Outlook section and quotations from management in this
press release, as well as E-House’s strategic and operational plans, contain
forward-looking statements. E-House may also make written or oral
forward-looking statements in its reports with the U.S. Securities and
Exchange Commission on Forms 20-F and 6-K, 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 statements about E-House’s
beliefs and expectations, are forward-looking statements and are subject to
change, and such change may be material and may have a material adverse effect
on the Company’s financial condition and results of operations for one or more
prior periods. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual results to
differ materially from those contained, either expressly or impliedly, in any
of the forward-looking statements in this press release. Potential risks and
uncertainties include, but are not limited to, substantial slowdown of the
growth of
business, failure of the real estate services industry in
mature as quickly as expected, diminution of the value of E-House’s brand or
image due to E-House’s failure to satisfy customer needs and/or other reasons,
E-House’s inability to successfully execute its strategy of expanding into new
geographical markets in
and other new business initiatives, E-House’s failure to manage its growth, E-
House’s loss of its competitive advantage due to its failure to maintain and
improve its proprietary CRIC system and/or other reasons, E-House’s reliance
on a concentrated number of real estate developers, and other risks outlined
in E-House’s filings with the U.S. Securities and Exchange Commission. All
information provided in this press release and in the attachments is as of the
date of this press release, and E-House does not undertake any obligation to
update any such information, except as required under applicable law.
For investor and media inquiries please contact:
In China:
Michelle Yuan
Manager, Investor Relations
E-House (China) Holdings Limited
Phone: +86-21-5228-3793
Email: liyuan@ehousechina.com
Cathy Li
Ogilvy Financial, Beijing
Phone: +86-10-8520-6104
Email: cathy.li@ogilvy.com
In the U.S.
Mr. Thomas Smith
Ogilvy Financial, New York
Phone: +1-212-880-5269
Email: thomas.smith@ogilvypr.com
SOURCE E-House (