SOURCE: ATA Inc.

ATA Inc.

September 24, 2015 17:10 ET

ATA Announces Approval of Share Repurchase Plan

BEIJING, CHINA--(Marketwired - Sep 24, 2015) - ATA Inc. ("ATA" or the "Company") (NASDAQ: ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced its Board of Directors has approved a share repurchase plan effective September 25, 2015. Under the plan, ATA is authorized to repurchase up to US$3 million of its issued and outstanding American Depositary Shares ("ADSs") during the period from September 25, 2015 to March 31, 2016. The repurchases will be made from time to time on the open market at prevailing market prices, in negotiated off-market transactions, in block trades, or otherwise.

The timing and extent of any purchases will depend upon market conditions, the trading price of ATA's ADSs, and other factors, and subject to restrictions relating to price, volume, and timing under applicable law, including the anti-manipulation provisions of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. ATA expects to use cash to finance repurchases.

ATA expects to implement this share repurchase plan in a manner consistent with market conditions and the interest of the shareholders. ATA's Board of Directors will periodically review the share repurchase plan and may authorize adjustments to the plan's terms and size. The Board may also suspend or discontinue the repurchase program at any time. The repurchase plan does not obligate ATA to make additional repurchases at any specific time or situation.

Kevin Ma, ATA's Chairman and Chief Executive Officer, stated, "The establishment of this share repurchase plan reflects our confidence in ATA's business and our ability to successfully execute our growth strategy. We believe ATA is in a strong financial position, enabling the Company to implement this plan while moving forward on our business initiatives and supporting our commitment to delivering increased shareholder value in the long term."

About ATA Inc.
ATA is a leading provider of advanced testing technologies in China. The Company offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA's testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, securities, insurance, and accounting. As of June 30, 2015, ATA's test center network comprised 3,021 authorized test centers located throughout China. The Company believes that it has the largest test center network of any commercial testing service provider in China.

ATA has delivered more than 68.6 million billable tests since ATA started operations in 1999. For more information, please visit ATA's website at www.atai.net.cn.

Contact Information

  • For more information on our company, please contact the following individuals:

    At the Company
    ATA Inc.
    Shelly Jiang
    Interim CFO
    +86 10 6518 1122 x5500
    jiangyan@atai.net.cn

    Investor Relations
    The Equity Group Inc.
    Carolyne Y. Sohn
    Senior Associate
    415-568-2255
    +86 10 6587 6435
    csohn@equityny.com

    Adam Prior
    Senior Vice President
    212-836-9606
    aprior@equityny.com