Latest Key DevelopmentsSinotech Energy Ltd Announces USD20 Million Share Repurchase Program 6:01am EDT
Sinotech Energy Ltd announced that its Board of Directors have authorized a share repurchase program, effective immediately. Under the program, SinoTech is authorized to repurchase up to USD20 million worth of its American Depositary Shares (ADSs), each representing two ordinary shares of the Company, by December 31, 2011. The repurchase of the ADSs shall be effected in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under United States securities regulations. The share repurchase program will be funded by the Company's available working capital.
