SHANGHAI, June 29, 2016 /PRNewswire/ -- Noah Holdings Limited
("Noah" or the "Company") (NYSE: NOAH), a leading wealth and asset management service provider with a focus on global services
for high net worth individuals and enterprises in China, today announced that its board of
directors has approved a share repurchase program ("Share Repurchase Program"), effective July 8,
2016, which authorizes the Company to repurchase up to US$50 million worth of its issued and outstanding
American Depositary Shares over the course of one year. The Share Repurchase Program extends the Company's previous share
repurchase program that was effective for 12 months from July 8, 2015. "Given the continued
volatility of the market, we believe the Share Repurchase Program helps us protect shareholders' value. We see continued
strengths in our business and continue to believe that our shares are undervalued," commented Kenny
Lam, Noah's Group President.
The proposed share repurchases may be made on the open market at prevailing market prices pursuant to Rule 10b-18 of the
Securities Exchange Act of 1934, 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 at its discretion.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading wealth and asset management services provider with a focus on
global services for high net worth individuals and enterprises in China. In the first quarter of
2016, Noah distributed over RMB24.8 billion (US$3.8 billion) of
wealth management products. As of March 31, 2016, Noah had assets under management of RMB94.6 billion (US$14.7 billion).
Noah distributes a wide array of wealth management products, including fixed income products, private equity fund products,
mutual fund products and insurance products. Noah also develops and manages financial products denominated in both domestic (RMB)
and foreign currencies, covering real estate funds and funds of funds, including private equity funds, real estate funds, hedge
funds and fixed income funds through Gopher Asset Management. In addition, in 2014, the Company launched a proprietary internet
finance platform to provide financial products and services to aspiring high net worth individuals and enterprise clients in
China. Noah delivers customized financial solutions to clients through a network of 1,137
relationship managers across 166 branches and sub-branches in 68 cities in China, and serves the
international investment needs of its clients through a wholly owned subsidiary in Hong Kong.
The Company's wealth management business had 105,557 registered clients as of March 31, 2016.
For more information please visit Noah at ir.noahwm.com.
SAFE HARBOR STATEMENTS
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. Among other things, the proposed implementation of the Share Repurchase Program and quotations from management
about the Share Repurchase Plan in this announcement, as well as Noah's strategic and operational plans, contain forward-looking
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, including but not limited to the following: its goals and strategies; its future business development, financial
condition and results of operations; the expected growth of the wealth management market in China and internationally; its expectations regarding demand for and market acceptance of the products it
distributes; its expectations regarding keeping and strengthening its relationships with key clients; relevant government
policies and regulations relating to its industry; its ability to attract and retain quality employees; its ability to stay
abreast of market trends and technological advances; its plans to invest in research and development to enhance its product
choices and service offerings; competition in its industry in China and internationally; general
economic and business conditions in China; and its ability to effectively protect its
intellectual property rights and not infringe on the intellectual property rights of others. Further information regarding these
and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission, including its annual reports on
Form 20-F. All information provided in this press release is as of the date of this press release, and Noah does not undertake
any obligation to update any such information, including forward-looking statements, as a result of new information, future
events or otherwise, except as required under applicable law.
Contacts:
Noah Holdings Limited
Steve Zeng
Noah Holdings Limited
Tel: +86-21-8035-9221
ir@noahwm.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/noah-holdings-limited-announces-us50-million-share-repurchase-program-300291839.html
SOURCE Noah Holdings Limited