Lihua directors authorise repurchase of the company

Lihua International, a Chinese developer, designer and manufacturer of low-cost alternatives to pure copper products including refined copper products and superfine and magnet wire has announced that its board of directors has authorised the repurchase by the company of up to $15m (£9m) of its common shares over the next 12 months.

The company plans to purchase shares from time to time, on the open market, or through private transactions.

The timing of purchases, number of shares purchased and prices at which shares are purchased will be determined by Lihua’s management and will be subject to market conditions as well as other factors.

The share buy-back programme, funded from the company’s available cash and operating cash flow, will be implemented and executed in compliance with all relevant laws, rules and requirements relating to the repurchase by the company of its own shares.