Headquartered in Wuhan, China, DouYu International Holdings Limited is a critical player in the Chinese game-centric live-streaming sphere and an influential figure in the eSports value chain. Operating on both PC and mobile apps, DouYu provides users with immersive gaming experiences, interactive entertainment livestreaming, diverse video and graphic content, and opportunities to engage in community events and discussions. Focusing on games, particularly eSports, DouYu emphasizes sustainable technology-based talent development and consistently delivers high-quality content to enhance user experiences and ensure long-term healthy development.
DouYu has announced a share repurchase program, revealing plans to buy back up to $20 million of its ordinary shares in the form of American depositary shares. The program is set to run for twelve months starting from January 1, 2024, subject to the rules of the Securities Exchange Act of 1934.
DouYu’s share repurchases may occur through various methods, including open-market transactions at prevailing prices, privately negotiated transactions, block trades, or other legally permissible means, contingent upon market conditions and adherence to relevant rules and regulations. The timing and conditions of these repurchases will be influenced by factors such as the requirements under Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The company’s board of directors will regularly review the program, retaining the authority to adjust its terms, size, or potentially suspend or discontinue the initiative. DouYu plans to fund repurchases using its existing financial resources.
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