HONG KONG, April 18, 2023 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) (the "Company") today announced that its Board of Directors (the "Board") has approved a program to repurchase up to 230,000 shares of its issued and outstanding ordinary shares for an aggregate purchase price of up to $300,000. This gives the Company the ability to repurchase its shares in the open market or through negotiated or block transactions from time to time based on market and business conditions over the next 12 months.
The Board has a high degree of confidence in the Company's future and believes that this expectation is not reflected in the current stock price of the Company's shares, which is also much lower than the Company's net asset value on a per share basis.
Forward-Looking Statement
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as "will," "expect," "would," "anticipate," "future," "intend," "plan," "believe," "estimate," "potential," "continue," "in progress," "goal," "guidance expectations" and similar statements are identified. Forward-looking statements contained in this release relate to, among other things, the Company's ongoing compliance with the HFCAA. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings filed with the U.S. Securities and Exchange Commission (the "SEC") (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
