Blue Flood communication in the next 12 months buy back $10 million ads

Beijing time June 13 Evening news, the Blue Flood Communication (NASDAQ:CCIH) announced today, the company's board of Directors has approved a stock repurchase plan, in the next 12 months will be through the open market or bulk trading repurchase value of 10 million U.S. dollars of Corporate America Depository Shares (ADS). Blue Flood communication will be based on market conditions for stock repurchase, at the same time to meet the interests of shareholders. The Board of Directors will conduct a phased assessment of the repurchase plan and be entitled to adjust the repurchase terms and size.　　The Blue Flood communication plan uses current cash to carry on this stock repurchase. Blue Flood communications also announced that the company's chairman Wang plans to use personal funds to buy back $1 million worth of ads, mainly to reward the backbone of the company staff. The stock repurchase will be carried out through the open market within the next six months. (Li Ming)