China BCT Announces Share Repurchase Plan

2011-07-06 21:02 912

LIUZHOU CITY, China, July 6, 2011 /PRNewswire-Asia/ -- China BCT Pharmacy Group, Inc., (OTC BB: CNBI), ("China BCT" or the "Company"), a leading pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products in Guangxi Province, China, today announced that the Company's Board of Directors has approved a share repurchase plan that authorizes the Company to repurchase up to 2,000,000 shares of the Company's common stock from time to time during a one year period commencing on July 4, 2011. Purchases under the plan will be conducted in compliance with Rule 10b-18 promulgated under the Securities and Exchange Act of 1934, as amended. China BCT expects to fund any repurchases using cash on hand and cash generated from operations. As of July 5, 2011, China BCT had approximately 38.2 million shares of common stock outstanding.

"We believe that China BCT's shares are undervalued and do not reflect the Company's strong current fundamentals and solid long-term growth outlook," commented Hui Tian Tang, Chairman and CEO of China BCT Pharmacy. "This share repurchase plan demonstrates our confidence in China BCT's future as well as our commitment to delivering shareholder value."

About China BCT

China BCT is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine Limited, Hefeng Pharmaceutical Co. Limited, and Guangxi Liuzhou Baicaotang Medicine Retail Limited in Guangxi province, China. It operates a large regional retail network in Guangxi province, consisting of 187 directly owned retail stores in Guangxi province and currently over 8,000 products are distributed through the Company's wholesale distribution network. For more information, please visit .

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include estimates and other statements reflecting expectation and involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including: changes from anticipated levels of sales; future international, national or regional economic and competitive conditions; changes in relationships with customers; access to capital; difficulties in developing and marketing new products and services; marketing existing products and services; customer acceptance of existing and new products and services; and other factors detailed in the Company's periodic filings with the Securities and Exchange Commission ( Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.

Company Contact:

Investor Relations Contact:

Ms. Shelly Zhang, Chief Financial Officer

CCG Investor Relations

China BCT Pharmacy Group, Inc.

Mr. Crocker Coulson, President



Tel: (86) 772-363-8318

Tel: +1-646-213-1915


Mr. Kalle Ahl, CFA, Account Manager


Tel: +1-646-833-3417


Source: China BCT Pharmacy Group, Inc.
Related Stocks: