SHENZHEN, China, March 28, 2021 /PRNewswire/ — Tencent Music Leisure Group (“Tencent Music,” “TME,” or the “Firm”) (NYSE: TME), the main on-line music leisure platform in China, right now introduced that its board of administrators (the “Board”) has licensed a share repurchase program beneath which the Firm might repurchase as much as $1 billion of its Class A abnormal shares within the type of American depositary shares (“ADSs”) throughout a twelve-month interval commencing on March 29, 2021 (collectively, the “Share Repurchase Program”).
Mr. Tong Tao Sang, Chairman of the Board, mentioned, “The Share Repurchase Program is a powerful indication of the Board’s confidence within the Firm’s enterprise outlook and long-term technique, and we imagine it’ll in the end profit TME and create worth for its shareholders.”
The Firm’s proposed repurchases could also be made on occasion by open market transactions at prevailing market costs, in privately negotiated transactions, in block trades and/or by different legally permissible means, relying available on the market circumstances and in accordance with relevant guidelines and laws. The timing and greenback quantity of repurchase transactions will probably be topic to the Securities and Alternate Fee (the “SEC”) Rule 10b-18 and/or Rule 10b5-1 necessities. The Board will overview the Share Repurchase Program periodically, and will authorize adjustment of its phrases and measurement or droop or discontinue this system. The Firm plans to fund repurchases from its present money steadiness.
About Tencent Music Leisure
Tencent Music Leisure Group (NYSE: TME) is the main on-line music leisure platform in China, working the nation’s extremely well-liked and modern music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to make use of know-how to raise the position of music in individuals’s lives by enabling them to create, get pleasure from, share and work together with music. Tencent Music’s platform contains on-line music, on-line karaoke and music-centric reside streaming companies, enabling music followers to find, hear, sing, watch, carry out and socialize round music. For extra data, please go to ir.tencentmusic.com.
Protected Harbor Assertion
This press launch comprises forward-looking statements. These statements are made beneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, and a variety of elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion. In some instances, forward-looking statements may be recognized by phrases or phrases resembling “might,” “will,” “count on,” “anticipate,” “goal,” “purpose,” “estimate,” “intend,” “plan,” “imagine,” “potential,” “proceed,” “is/are prone to” or different related expressions. Additional data concerning these and different dangers, uncertainties or elements is included within the Firm’s filings with the SEC. All data supplied on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any responsibility to replace such data, besides as required beneath relevant legislation.
Investor Relations Contact
Tencent Music Leisure Group
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SOURCE Tencent Music Leisure Group