ARCSOFT CORPORATION LIMITED ArcSoft Corporation Limited (SHSE:688088) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million worth of its shares. The shares will be purchased at a price not exceeding CNY 50 per share.
The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's excess funds obtained from the company's initial public offering.
The program will be valid for 6 months.
