SHANGHAI, Sept. 29, 2011 /PRNewswire-Asia/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP) ("Ctrip" or the "Company"), a
leading travel service provider of hotel accommodations, airline
tickets, packaged tours and corporate travel management in
China, today announced that the
board of the Company has approved a new share repurchase program
whereby Ctrip may purchase its own American Depositary Shares
("ADSs") with an aggregate value of up to US$100 million. The Company expects to fund the
repurchase out of its existing cash balance, with the cash
consideration of such repurchase being paid on Ctrip's behalf to
the relevant ADS holders (or their agents) at the direction of the
depositary. The proposed share repurchase may be effected on the
open market at prevailing market prices and/or in negotiated
transactions off the market from time to time as market conditions
warrant in accordance with applicable requirements of Rule 10b5-1
and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934,
as amended.
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
"may," "will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "is/are likely to," "confident" or other
similar statements. Ctrip may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 20-F and 6-K, etc., 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 Ctrip's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to, the
slow-down of economic growth in China and the global economic downturn,
general declines or disruptions in the travel industry, volatility
in the trading price of Ctrip's ADSs, Ctrip's reliance on its
relationships and contractual arrangements with travel suppliers
and strategic alliances, failure to further increase Ctrip's brand
recognition to obtain new business partners and
consumers, failure to compete against new and existing
competitors, failure to successfully manage current growth and
potential future growth, risks associated with any strategic
investments or acquisitions, seasonality in the travel industry in
mainland China, Hong Kong, Macau or Taiwan, failure to successfully develop
Ctrip's corporate travel business, damage to or failure of Ctrip's
infrastructure and technology, loss of services of Ctrip's key
executives, inflation in China and
in other countries, risks and uncertainties associated with PRC
laws and regulations with respect to the ownership structure of
Ctrip's affiliated Chinese entities and the contractual
arrangements among Ctrip, its affiliated Chinese entities and their
shareholders, and other risks outlined in Ctrip's filings with the
U.S. Securities and Exchange Commission, including its annual
report on Form 20-F and other filings. All information provided in
this press release and in the attachments is as of the date of the
issuance, and Ctrip does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of hotel accommodations, airline tickets, packaged tours,
and corporate travel management in China. Ctrip aggregates hotel and flight
information to enable business and leisure travelers to make
informed and cost-effective bookings. Ctrip also books vacation
packages and guided tours. In addition, Ctrip corporate travel
management services help corporate clients effectively manage their
travel requirements. Since its inception in 1999, Ctrip has grown
substantially and become one of the best-known travel brands in
China.
For further
information, please
contact:
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Investor
Relations
Ctrip.com International,
Ltd.
Tel: (+86) 21 3406 4880 X
12258
Email: iremail@ctrip.com
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SOURCE Ctrip.com International, Ltd.