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|JA Solar Announces Share Repurchase Program|
SHANGHAI, China, Aug 8, 2011 (GlobeNewswire via COMTEX) --
JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or "the Company"), one of the world's largest manufacturers of high-performance solar cells and solar power products, today announced that its board of directors has approved a share repurchase program, effective immediately, that authorizes JA Solar to repurchase up to US$100 million of its American Depositary Shares, or ADSs.
The program permits the Company to purchase ADSs from time to time on the open market at prevailing market prices, in negotiated transactions off the market, and in block trades, in accordance with applicable securities laws and subject to restrictions relating to volume, price and timing.
"We are confident in JA Solar's long-term prospects because we believe that our financial and technological strengths, long-term relationships with the major players across the solar value chain, and unique position as the low cost leader in the solar industry, mean that our company is well-placed to benefit as the sector recovers," said Dr. Peng Fang, CEO of JA Solar. "Today's announcement demonstrates both that confidence for the future and our ongoing commitment to enhancing value for our shareholders."
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products. The company sells its products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation. For more information, please visit http://www.jasolar.com.
The JA Solar Holdings Co., Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8631
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: JA Solar Holdings Co., Ltd.
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