Santech Holdings announces US$5 million share buyback program

SHANGHAI, Aug. 26, 2024 (GLOBE NEWSWIRE) — Santech Holdings Limited (“Santech” or the “Company”) (NASDAQ: STEC), a consumer-focused technology company in China, today announced that the Company’s board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$5 million of its outstanding American Depositary Shares (“ADSs”), each consisting of two ordinary shares, over the next 12 months beginning on August 26, 2024.

The Company’s proposed repurchases 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 permitted means, depending on market conditions and in accordance with applicable rules and regulations. The Company may conduct the share repurchases in accordance with the requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, as well as the Company’s insider trading policy. The Company’s board of directors will periodically review the share repurchase program and may authorize adjustments to the terms and scope thereof. The Company intends to fund repurchases from its existing cash balance.