some news CHLN
China Housing & Land Development Authorizes New $10 Million Share Repurchase Program
8:30a ET March 25, 2014 (PR NewsWire) Print
China Housing & Land Development, Inc., ("China Housing" or the "Company," NASDAQ: CHLN) today announced that the Company's Board of Directors has authorized a new share repurchase program under which the Company is able to repurchase up to $10 million shares of common stock.
Mr. Pingji Lu, China Housing's Chairman of the Board commented, "We continue to believe that our current share price does not fully reflect the true market value of China Housing and are pleased that our Board has authorized a new share repurchase program. As of December 31, 2013, the Company has repurchased a total of 1,166,369 shares under the $5 million share repurchase program announced on August 11, 2011. We are pleased to implement another share repurchase program as we continue to believe the repurchase program is a good investment of available funds and underscores our commitment to enhancing shareholder value."
Shares of the Company's common stock will be repurchased from time to time in open market transactions or privately negotiated transactions at the Company's discretion, in accordance with Securities and Exchange Commission and NASDAQ requirements, and subject to market conditions and other factors. There is no guarantee as to the exact number of shares that will be repurchased by the Company and the Company may discontinue purchases at any time that the Board of Directors determines additional purchases are not warranted.
