to-the-point: SPI unveils USD-50m share repurchase plan

Vertically-integrated photovoltaics (PV) developer Solar Power Inc (OTCBB:SOPW), or SPI, has started a programme to buy back up to USD 50 million (EUR 45m) worth of its common stock in six months.

Shanghai-headquartered SPI said on Friday it will acquire shares on the open market via negotiated transactions until December 7, 2015. Their exact timing will be determined by the company’s management in accordance with factors such as price, market conditions and regulatory requirements. SPI may limit, terminate or extend the programme, it noted.

“The implementation of our share repurchase programme reflects the confidence that our Board and management have in SPI's growth prospects and our commitment to enhance value for our shareholders while retaining adequate flexibility for future growth,” chairman Xiaofeng Peng said.

(USD 1.0 = EUR 0.900)

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