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Board authorizes repurchase of the company’s ordinary shares with an aggregate value of up to $8 million
Tri-Tech Holding Inc., a solutions provider to China's water resources, municipal wastewater and industrial pollution control markets, announced that the board of directors has authorized the repurchase of the company's ordinary shares with an aggregate value of up to $8 million.
The company said the current market price for the company's ordinary shares may represent an opportunity to repurchase shares on fair terms to the company. The company said it may repurchase the shares over the next 12 months in one or more public transactions in accordance with Rule 10b-18 of the Securities and Exchange Act of 1934, as amended.
Tri-Tech designs customized sewage treatment and odor control systems for China's municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. Tri-Tech owns seven software copyrights and two technological patents and employs 140 people.