ETLT - Eternal Technologies Announces Stock Buyback
HOUSTON, Jun 25, 2007 (BUSINESS WIRE) -- Eternal Technologies Group, Inc. (ETLT) today announced that it will repurchase up to 5% of its issued and outstanding shares between now and December 31, 2007. With 47,073,279 shares issued and outstanding, the repurchase could total 2,353,664 shares. Repurchases can be made both in the open market and privately from existing shareholders.
About Eternal Technologies
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.
