E-Home Household Services Holdings Limited Announces $8 Million Share Repurchase Program
E-Home Household Service Holdings Limited (Nasdaq: EJH) announced a share repurchase program of up to $8 million, authorized by its Board of Directors. The program allows repurchases over the next 9 months, funded by the company's cash reserves. The decision is based on capital needs and market conditions. The company aims to enhance shareholder confidence and value, reflecting its strong business performance and growth strategy in the household services sector.
- Share repurchase program of up to $8 million to enhance shareholder value.
- Company confident in business performance and long-term industry outlook.
- Funded by existing cash reserves, demonstrating financial stability.
- None.
FUZHOU, China, March 04, 2022 (GLOBE NEWSWIRE) -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated household services in China, today announced that its Board of Directors has authorized a share repurchase program under which the Company may within the next 9 months, repurchase up to
The Company’s decision to repurchase its ordinary shares, as well as the timing of such repurchases, will depend on a variety of factors that include ongoing assessments of the Company’s capital needs, market conditions and the price of the Company’s ordinary shares, and other corporate considerations, as determined by the Company. The repurchase program does not obligate the Company to make repurchases at any specific time. The share repurchase will be funded by the Company's existing cash balance.
"We believe the share repurchase program represents our confidence in our strong business performance, and in the long-term outlook for the household services industry in China. Our fast-growing strategy and solid operation have demonstrated profitable growth. We believe that the share repurchase program is consistent with our goal of boosting shareholders’ confidence and increasing shareholder value." commented Mr. Xie Wenshan, Chairman and CEO of E-Home.
About E-Home Household Service Holdings Limited
E-Home Household Service Holdings Limited is a household service company based in Fuzhou, China. The Company, through its website and WeChat platform "e家快服", provides integrated household services, including appliance installation and maintenance, housekeeping services, and Internet based home and senior care. For more information, visit the Company's website at http://www.ej111.com/ir.html.
Forward-Looking Statements
This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of the securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB subsequently determines our audit work is performed by auditors that the PCAOB is unable to inspect or investigate completely, the effects of the global Covid-19 pandemic, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China’s legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
For more information, please contact:
At the Company:
Ms. Chunming Xie
Email: xcm@ej111.com
Phone: +86 15359908086
Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
FAQ
What is the share repurchase program amount authorized by E-Home (EJH)?
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