The9 Limited (NCTY) Announces $10 Million Buyback
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The9 Limited (NASDAQ: NCTY), an online game developer and operator, today announced that its Board of Directors has authorized a share repurchase program under which the Company may purchase up to U.S. $10 million of its American Depositary Shares over the next 12 months.
The Company may make repurchases in the open market and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the "1934 Act"). The program will be conducted in compliance with Rule 10b-18 of the 1934 Act and other applicable legal requirements. The program may be modified or suspended at any time at the Company's discretion.
The Company may make repurchases in the open market and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the "1934 Act"). The program will be conducted in compliance with Rule 10b-18 of the 1934 Act and other applicable legal requirements. The program may be modified or suspended at any time at the Company's discretion.
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