Courtesy of Benzinga
China Shengda Packaging Group Inc. (NASDAQ: CPGI) today announced that its board of directors has approved a share repurchase program for up to $5 million of its common stock over the next twelve months, subject to market and other conditions.
Under this plan, the Company can repurchase shares from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable US federal securities laws. This share repurchase program may be modified, suspended, terminated or extended by the Company at any time without prior notice.
The repurchases will be funded with available cash on hand.