SHANGHAI, May 22, 2012 /PRNewswire-Asia/ -- Noah Holdings
Limited ("Noah" or the "Company") (NYSE: NOAH), the leading
independent service provider focusing on distributing wealth
management products to the high net worth population in
China, today announced that its
board of directors has approved a share repurchase program,
effective immediately, which authorizes the Company to repurchase
up to US$30 million worth of its
issued and outstanding American Depositary Shares ("ADSs") over the
course of one year.
The proposed share repurchase may be made on the open market at
prevailing market prices pursuant to Rule 10b5-1 and/or Rule
10b-18, in privately negotiated transactions, in block trades or
otherwise from time to time depending on market conditions and in
accordance with applicable rules and regulations. Noah's board of
directors will review the share repurchase program periodically,
and may authorize adjustment of its terms and size.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is the leading independent service
provider focusing on distributing wealth management products to the
high net worth population in China. Noah distributes over-the-counter
wealth management products that are originated in China, including primarily fixed income
products, private equity funds and securities investment funds.
With 580 relationship managers in 60 branch offices as of
March 31, 2012, Noah's total coverage
network encompasses China's most
economically developed regions where the high net worth population
is concentrated. Through this extensive coverage network, product
sophistication, and client knowledge, the Company caters to the
wealth management needs of China's
high net worth population. For more information please visit the
Company's website at http://www.noahwm.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of 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" and similar statements. Noah
may also make written or oral forward-looking statements in its
periodic reports 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. Statements that are not
historical facts, including statements about Noah's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. Further information
regarding these and other risks is included in Noah's filings with
the Securities and Exchange Commission, including its annual report
on Form 20-F. Noah does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law. All
information provided in this press release and in the attachments
is as of the date of this press release, and Noah undertakes no
duty to update such information, except as required under
applicable law.
Contacts:
Noah Holdings Limited
Shang Chuang, Director of IR
Tel: +86 21 3860 2388
ir@noahwm.com
SOURCE Noah Holdings Limited