Courtesy of Benzinga.
ReneSola Ltd (NYSE: SOL) today announced that its Board of Directors has authorized a share repurchase program under which ReneSola may repurchase up to US$100 million in aggregate value of the Company’s outstanding ordinary shares.
Under the program, the Company may, from time to time, for a limited period of time, depending on market conditions, share price and other factors, make one or more purchases, on the open market or in privately negotiated transactions, of up to US$100 million in aggregate value of the Company’s outstanding common shares. Such purchases under the program will be made in accordance with the applicable laws and subject to any required regulatory approvals. Mr. Xianshou Li, ReneSola’s chief executive officer, and Mr. Henry Wang, ReneSola’s chief financial officer, are granted full discretion to act on behalf of the Company to acquire shares of the Company under the share repurchase program.
