ChinaCache International Holdings Ltd. (CCIH: Quote) said its board of directors approved a share repurchase plan.
As per the plan, ChinaCache is authorized to repurchase, through open market purchase or privately negotiated transactions, up to $10 million worth of outstanding American Depositary Shares representing the ordinary shares of ChinaCache over the next 12 months, depending on market conditions, share price and other factors, subject to relevant rules and regulations under the U.S. securities laws.
The company noted that the share repurchase plan will be funded by its available cash balance.
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by RTT Staff Writer
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