Courtesy of Benzinga.
Ambow Education Holding Ltd. (NYSE: AMBO) today announced that its Board of Directors approved a share repurchase program.
Under the program, Ambow is authorized to repurchase up to $10 million worth of its outstanding American Depositary Shares (ADSs) representing its Class A ordinary shares from time to time in open market transactions, in block trades or otherwise. The timing and amount of any ADSs repurchased will be determined by Ambow’s management, based on its evaluation of market conditions, the trading price of the stock and other factors, as well as subject to relevant rules under the Securities Exchange Act of 1934, as amended (the “Act”). The Company also will effect repurchase transactions in compliance with the Company’s insider trading policy.
The repurchase program does not obligate the Company to acquire any particular number or amount of its ADSs and may be suspended or discontinued at any time.
