BVI-registered Euro Tech Holdings Company Limited announced that its Board of Directors has approved a program to repurchase up to 300,000 shares of its issued and outstanding stock by the end of December, 2009.
The repurchase program will allow Euro Tech to buy the stock in the open market, or through negotiated or block transactions from time to time based on market and business conditions over the next 13 months.
T.C. Leung, Chairman and CEO of the BVI company, stated that the Board has a high degree of confidence in Euro Tech's future. He said the Board believes it is an appropriate investment of Euro Tech's excess cash, and that after the repurchase the company will have cash on hand for its day-to-day operations and planned projects.
