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Upsizing and Extension of Share Repurchase Program
As previously announced in November 2021 and August 2022, the Company established and modified a share repurchase program under which the Company may repurchase up to US$150.0 million worth of its ordinary shares (including in the form of ADSs) through August 25, 2024 (the "Share Repurchase Program"). From the launch of the Share Repurchase Program on November 17, 2021 to November 19, 2023, the Company in aggregate purchased approximately 100.0 million ADSs for an aggregate consideration of approximately US$126.5 million (inclusive of broker commissions) under the Share Repurchase Program.
On November 20, 2023, the Company's board of directors approved and authorized a change to the size and term of the Share Repurchase Program, increasing the aggregate value of shares that may be repurchased under the Share Repurchase Program from US$150.0 million to US$200.0 million and extending the effective term of the Share Repurchase Program through November 19, 2025.
Posted In: YSG
