In the company’s news yesterday,
China Yingxia International, Inc. announced a plan to repurchase up to $2 million of its own common stock. China Yingxia will repurchase the shares on the open market, or via privately negotiated transactions, through September of 2009. The company made clear that the final number of shares repurchased and the timing of the purchases will depend on market conditions, share price, applicable legal requirements, and other factors deemed appropriate by the company’s board, and the program may be discontinued or expanded as deemed necessary in the future.
China Yingxia has about 44.5 million common shares outstanding and approximately 10.9 million freely traded shares. Any shares repurchased through the program will reduce the number common shares outstanding. The repurchase will be funded with available cash on hand.
Ms. Yinxia Jiao, CEO and chairwoman of China Yingxia, commented on the reason for the program, and the company’s future plans. “Our strong balance sheet provides us with the opportunity to return value to our shareholders through a stock repurchase program without impacting our ability to engage in new investments for future growth. We have recently completed the most capital intensive phase of our growth plan by increasing production capacity. Now we will focus on expanding our franchisee-based distribution network and product offerings.”
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit http://www.qualitystocks.net/
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
