Linkstone (LTON) Approves $8M Buyback Plan
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Linkstone Ltd. (NASDAQ: LTON) announced that its Board of Directors has authorized the repurchase of up to US$8 million worth of outstanding American Depositary Shares, or ADSs, over approximately the next 6 months, from time to time, in open-market purchases at prevailing market prices pursuant to a trading plan established under Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, or the Exchange Act. The timing and extent of any purchases will be subject to the parameters specified in the Rule 10b5-1 trading plan and depend on a number of factors including the price and availability of the Company's ADSs. The trading plan may be suspended or discontinued at any time, without prior notice. In addition, repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases. The Company will finance the repurchase with existing cash reserves and cash generated from operations.
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