Ossen Innovation Co., Ltd. (OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, said Thursday that its Board of Directors has authorized the extension of its repurchase plan of up to 500,000 shares of the company's American Depositary Receipts, or about 8.1%, of the outstanding American Depositary Receipts of the company, for an additional twelve months to May 31, 2013.
Repurchases are authorized to be made by the company from time to time at the prevailing market price on the open market, and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. Shares repurchased will be held in Treasury.
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