HONG KONG, Jan. 15, 2020 (GLOBE NEWSWIRE) -- iClick Interactive Asia Group Limited (“iClick”) (ICLK), an independent online marketing and enterprise data solutions provider in China, today announced its board of directors has approved a share repurchase program in which the company may purchase its own ADSs with an aggregate value of up to US$10 million over the 12-month period ending on December 29, 2020.
“This share repurchase program demonstrates our confidence in our long-term business prospects and ability to deliver sustainable growth and solid operating results as we upgrade to an Enterprise and Marketing Cloud Platform. We believe our business model and robust technology will continue to enable us to capture market opportunities and that this share repurchase program is consistent with the goal of creating value for our shareholders in the future,” said Jian “T.J.” Tang, Chief Executive Officer and Co-Founder of iClick.
iClick expects to fund the repurchase from its existing cash balance, including cash generated from its operations.
The Company expects to effect the proposed share repurchase on the open market at prevailing market prices, in negotiated transactions off the market, and/or in other legally permissible means from time to time as market conditions warrant in compliance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, at times and in such amounts as the Company deems appropriate.
The share repurchase program does not obligate the Company to acquire any particular number of ADSs and may be suspended, terminated or extended at any time at the Company’s discretion without prior notice.
About iClick Interactive Asia Group Limited
iClick Interactive Asia Group Limited (ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, iClick’s proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide including Asia and Europe.
For more information, please visit ir.i-click.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements 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 forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. 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, including but not limited to the following: the Company’s fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favorable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
|In China:||In the United States:|
|iClick Interactive Asia Group Limited||Core IR|
|Lisa Li||John Marco|
|Phone: +86-21-3230-3931 #892||Tel: +1-516-222-2560|
|E-mail: email@example.com||E-mail: firstname.lastname@example.org|