In the news release, American Oriental Bioengineering Announces
US$20 Million Share Repurchase
Program, issued 21-Mar-2011 by
American Oriental Bioengineering, Inc. over PR Newswire Asia, we
are advised by the company that in the first paragraph
"March 15, 2010" should read
"March 15, 2011" and in the third
paragraph "As of March 21, 2010"
should read "As of March 21, 2011".
The complete, corrected release follows:
American Oriental Bioengineering Announces US$20 Million Share
Repurchase Program
NEW YORK, March 21, 2011 /PRNewswire-Asia-FirstCall/ --
American Oriental Bioengineering, Inc. (NYSE: AOB), (the "Company"
or "AOBO"), a pharmaceutical company dedicated to improving health
through the development, manufacture and commercialization of a
broad range of prescription and over the counter ("OTC") products,
announced at its 2010 earnings conference call, held on
March 15, 2011, that its board of
directors authorized a share buyback program for the repurchase of
up to $20 million of the Company's
outstanding common stock over the next two years.
Purchases under this program may be made, from time to time, in
the open market, privately negotiated transactions, block trades,
and accelerated stock repurchase transactions or otherwise, as
determined by the Company and will be funded from available working
capital. The number of shares to be purchased and the timing of
purchases will be based on several factors, including the price of
the Company's stock, general business and market conditions and
other investment opportunities. The Company believes the
program should enhance shareholder value over time.
As of March 21, 2011 the Company
had 78,598,604 shares of common stock outstanding.
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. is a pharmaceutical
company dedicated to improving health through the development,
manufacture and commercialization of a broad range of prescription
and over the counter products.
Safe Harbor Statement
Statements made in this press release are forward-looking and
are made pursuant to the safe harbor provisions of the Securities
Litigation Reform Act of 1995. Such statements involve risks
and uncertainties that may cause actual results to differ
materially from those set forth in these statements. The
economic, competitive, governmental, technological and other
factors identified in the Company's filings with the Securities and
Exchange Commission, including the Form 10-K for the year ended
December 31, 2010, may cause actual
results or events to differ materially from those described in the
forward looking statements in this press release. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether because of new information,
future events, or otherwise.
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Contact:
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ICR, LLC
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Christine Duan or Ashley M.
Ammon
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Tel: +1-203-682-8200
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SOURCE American Oriental Bioengineering, Inc.