CooTek Announces Share Purchase by Senior Management

Rhea-AI Summary

CooTek (Cayman) Inc. (NYSE: CTK) announced that Chairman Karl Kan Zhang plans to use personal funds to purchase up to US$3 million worth of the Company's American Depositary Shares over the next six months. These purchases will be made in compliance with applicable laws and CooTek's trading policy. Zhang is subject to a lock-up period of at least six months for these shares. This initiative reflects senior management's confidence in CooTek's long-term growth potential in the mobile internet market.

Positive

• Chairman plans to purchase up to US$3 million in ADSs, indicating strong management confidence.
• The share purchase demonstrates a commitment to the Company's long-term growth.

Negative

• None.

SHANGHAI, March 15, 2022 /PRNewswire/ -- CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a global mobile internet company, today announced that Mr. Karl Kan Zhang, CooTek's Chairman of the Board of Directors and Chief Technology Officer has informed the Company of his intention to use his personal funds to purchase up to US$3 million of the Company's American Depositary Shares (the "ADSs") for the next six months, pursuant and subject to applicable laws and the Company's securities trading policy.

Mr. Karl Kan Zhang will make his own independent decision on the share purchase and its terms. The share purchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

Mr. Karl Kan Zhang has agreed to be subject to lock-up restrictions for a period of at least six months with respect to the proposed purchased ADSs. The proposed share purchase plan demonstrates the senior management's confidence in the long-term growth of the Company and the value of its business.

About CooTek (Cayman) Inc.

CooTek is a mobile internet company with a global vision that offers content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and mobile games. CooTek's mission is to empower everyone to enjoy relevant content seamlessly. CooTek's user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users' ever-evolving content needs and helps it rapidly attract targeted users.

For more information on CooTek, please visit https://ir.cootek.com.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "optimistic" and similar statements. CooTek may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, 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. Any statements that are not historical facts, including statements about CooTek's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: CooTek's mission and strategies; future business development, financial conditions and results of operations; the expected growth of the mobile internet industry and mobile advertising industry; the expected growth of mobile advertising; expectations regarding demand for and market acceptance of our products and services; competition in mobile application and advertising industry; relevant government policies and regulations relating to the industry and the development and impacts of COVID-19. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and CooTek does not undertake any obligation to update such information, except as required under applicable law.

For investor enquiries, please contact:

CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: IR@cootek.com

ICA Investor Relations (Asia) Limited
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: cootek@icaasia.com

View original content:https://www.prnewswire.com/news-releases/cootek-announces-share-purchase-by-senior-management-301502580.html

SOURCE CooTek (Cayman) Inc.

FAQ

What is the significance of Karl Kan Zhang's share purchase for CooTek (CTK)?

Karl Kan Zhang's intention to purchase up to US$3 million in CooTek's ADSs signifies strong management confidence in the company's long-term growth.

How long will Karl Kan Zhang's share purchases be restricted?

Karl Kan Zhang will be subject to a lock-up period of at least six months for the purchased ADSs.

What does CooTek (CTK) do?

CooTek is a global mobile internet company that offers content-rich applications, focusing on online literature, scenario-based content apps, and mobile games.

When was the share purchase announcement made by CooTek (CTK)?

The share purchase announcement was made on March 15, 2022.