BEIJING, June 30,
2022 /PRNewswire/ -- First High-School
Education Group Co., Ltd. ("First High-School Education Group" or
the "Company") (NYSE: FHS), an education service provider primarily
focusing on high schools in Western
China, today announced that its board of directors (the
"Board") has authorized a share repurchase program under which the
Company may repurchase up to RMB4.0 million of its Class A ordinary
shares in the form of American depositary shares ("ADSs") during a
twelve-month period commencing on July 15, 2022
(the "Share Repurchase Program").
"The Share Repurchase Program is well aligned with our
commitment to maximizing value for shareholders and reflects the
Board's confidence in the Company's continued growth and long-term
prospects," said Mr. Tommy Zhou, the
Company's Chief Financial Officer.
Repurchases under the program may be made from time to time
through open market transactions at prevailing market prices, in
privately negotiated transactions, in block trades and/or through
other legally permissible means. The repurchases will be subject to
all applicable rules and regulations, including Rule 10b-18
and Rule 10b5-1 under the Securities Exchange Act of 1934, as
amended, as well as the Company's insider trading policy. The
number of ADSs repurchased and the timing of repurchases will also
depend on a number of factors, including, but not limited to,
price, trading volume and general market conditions, along with the
Company's working capital requirements, general business conditions
and other factors. The Board will review the Share Repurchase
Program periodically, and may authorize adjustment of its terms and
size or suspend or discontinue the program. The Company plans to
fund the repurchases from its existing cash balance.
About First High-School Education Group
First High-School Education Group is an education service
provider primarily focusing on high schools in Western China. The Company aspires to become a
leader and innovator of private high school education in
China, with the focuses on a
comprehensive education management integrating education
information consulting, education research project development,
education talent management, education technology management,
education service management, and general vocational integration
development services. For more information, please visit
https://ir.diyi.top/.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in
the U.S. Private Securities Litigation Reform Act of 1995. These
statements include, but are not limited to, statements relating to
the expected trading commencement and closing dates. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would" and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including: the uncertainties related to market conditions
and the completion of the public offering on the anticipated terms
or at all, and other factors discussed in the "Risk Factors"
section of the preliminary prospectus filed with the SEC. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and the Company specifically disclaims
any obligation to update any forward-looking statement, whether as
a result of new information, future events or otherwise.
For Investor and Media Inquiries Please Contact:
First High-School Education Group
Tommy Zhou
Chief Financial Officer
E-mail: tommyzhou@dygz.com
Customer Service
E-mail: FHS_info@dygz.com
Phone: 010-62555966 (9:30-12:00, 13:30-16:00
CST)
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SOURCE First High-School Education Group Co., Ltd