Kandi Technologies Board Authorizes $5 Million Share Repurchase
Kandi Technologies, Corp. (NASDAQ:KNDI - News), today announced it has received authorization from its board of directors for a share repurchase program under which the Company may acquire up to $5 million of Kandi's outstanding common shares from time to time over the next 18 months.
The board of directors for China's leading supplier of off-road vehicles and developer of pure electric vehicles (EV) approved the buyback program at its most recent meeting. Kandi Technologies said the buyback authorization allows the Company to purchase common stock in open-market transactions in compliance with applicable federal securities regulations, including Rule 10b-18, over the next 18 months.
- Published: 19 July 2011
- Written by Editor