Bonso Electronics International Inc. Announces Stock Repurchase Program for Common Stock.Business/Hi-Tech Editors HONG KONG--(BUSINESS WIRE)--July 10, 2000 Bonso Electronics International Inc. (Nasdaq:BNSO) announced today that the Company's Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the purchase of up to $1,000,000 of its outstanding shares of Common Stock from time-to-time in open market and in privately negotiated transactions. Anthony So, the President and Chief Executive Officer of the Company, noted that the Board of Directors has taken this action because of the recent decline in the price of the Company's common stock to $8.00 per share on July 7, 2000. Mr. So noted that the Board of Directors believes that the common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and that the repurchase of shares at current levels should be beneficial to the Company's shareholders. About Bonso Electronics Headquartered in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of telecommunication products, electronic scales and weighing instruments and health care products. Bonso products are manufactured in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China on behalf of customers primarily located in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Company services include product design and prototyping, production tooling, procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. For further information, visit the company's web site at www.bonso.com. The statements contained in the press release which are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission. |
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