Le Gaga Holdings (GAGA) Approves $10M ADS Buyback

August 27, 2012 7:02 AM EDT
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Le Gaga Holdings Limited (Nasdaq: GAGA), has authorized a program to repurchase Le Gaga American Depositary Shares, each representing 50 ordinary shares. The Board approved the repurchase of up to US$10 million of Le Gaga ADSs over a period of eight months or such other date, which ever is earlier, when the repurchase program is revoked or varied by the Board of Directors.

The size, scope and timing of any purchases under the repurchase program will be based on business, market and other conditions and factors, including price, regulatory and contractual requirements or consents, and capital availability. The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions, or by any combination of such methods, in compliance with applicable insider trading and other securities laws and regulations. This plan does not obligate Le Gaga to acquire any particular number of ADSs. The plan may be suspended, modified or discontinued at any time at Le Gaga's discretion without prior notice.

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