CDC Corporation Provides Update on Share Repurchases and Insider Buying
Company Insiders Purchased 467,825 Shares During Last Nine Trading Days
Last update: 7:30 a.m. EST Dec. 28, 2007Print E-mail RSS Disable Live Quotes
ATLANTA & BEIJING, Dec 28, 2007 (BUSINESS WIRE) -- CDC Corporation (CHINA:CHINAfocused on enterprise software and online games, announced today that company directors and executives have purchased a net amount of approximately 467,825 shares since the insider trading window was opened on December 17, 2007.
Additionally, during the fourth quarter of 2007, the company and its subsidiaries repurchased 366,000 common shares at an average price of US$6.31 per share for a total of US$2,309,246. Since January 1, 2007, the company and its subsidiaries have repurchased a total of 2,909,200 common shares at an average price of US$8.02 per share for a total of US$51,220,386. Since the beginning of the share repurchase program on May 2, 2006, the company and its subsidiaries have repurchased a total of 8,997,824 common shares at an average price of US$5.69 per share for a total of US$51,220,386.
The company has entered into a 10b5-1 trading plan which facilitates the repurchase of its common shares and allows the company to repurchase shares during trading blackout periods through pre-arrangements with a broker, based upon specified guidelines and parameters set forth in the trading plan. Shares of the company purchased by subsidiaries are not counted as part of the company's authorized repurchase program.