New Oriental Extends Share Repurchase Program

Core Viewpoint - New Oriental Education & Technology Group Inc. has extended its share repurchase program, allowing for the repurchase of up to approximately US$153.7 million of its shares through May 31, 2025, following a previous repurchase of approximately US$246.3 million worth of its ADSs [1][2]. Group 1 - The board of directors has authorized the extension of the Share Repurchase Program, which was initially launched in 2022 and amended in 2023 [1]. - As of the announcement date, the company has repurchased approximately US$246.3 million worth of its American Depositary Shares (ADSs) under the program [1]. - There remains a balance of approximately US$153.7 million that has not yet been utilized under the Share Repurchase Program [1]. Group 2 - The repurchases may occur through various methods, including open market transactions, privately negotiated transactions, and block trades, depending on market conditions [2]. - The board will periodically review the Share Repurchase Program and may authorize adjustments to its terms and size [2]. Group 3 - New Oriental is a provider of private educational services in China, offering a wide range of educational programs, services, and products [3]. - The company's offerings include educational services, test preparation courses, overseas study consulting services, and educational materials [3]. - New Oriental is listed on both NYSE and SEHK, with its ADSs representing ten common shares [3].