Science & Technology
Mon, January 16, 2012
SHIJIAZHUANG, Hebei Province, China--([ BUSINESS WIRE ])--AutoChina International Limited (aAutoChinaa or the aCompanya) (OTC: AUTCF), Chinaas largest commercial vehicle sales, servicing, leasing, and support network, today announced that Honest Best Intal Ltd., an entity owned by AutoChinaas founder, Chairman, and Chief Executive Officer, Mr. Yong Hui Li, recently purchased 300,000 of AutoChinaas ordinary shares at a price of $21.50 a share (an aggregate purchase price of $6,450,000) in a private transaction.
Because it is a foreign private issuer, AutoChinaas officers and directors are not required to file insider trading reports with the Securities and Exchange Commission. However, in accordance with its commitment to maintaining a policy of transparency with its shareholders, AutoChinaas own policy is that any trading of the Companyas securities totaling $250,000 or more conducted by officers or directors during any consecutive five trading days must be disclosed by the Company within 48 hours via a press release.
About AutoChina International Limited:
AutoChina International Limited is Chinaas largest commercial vehicle sales, servicing, leasing, and support network. AutoChinaas operating subsidiary was founded in 2005 by nationally recognized Chairman and CEO, Yong Hui Li. The Company owns and operates 506 commercial vehicle financing centers across China; and primarily provides sales-type leasing and support services for local customers. The Companyas website is [ http://www.autochinaintl.com ].
Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the Company. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to meaningfully differ from those set forth in the forward-looking statements:
- Continued compliance with government regulations;
- Changing legislation or regulatory environments;
- Requirements or changes affecting the businesses in which the Company is engaged;
- Industry trends, including factors affecting supply and demand;
- Labor and personnel relations;
- Credit risks affecting the Company's revenue and profitability;
- Changes in the commercial vehicle industry;
- The Companyas ability to effectively manage its growth, including implementing effective controls and procedures and attracting and retaining key management and personnel;
- Changing interpretations of generally accepted accounting principles;
- General economic conditions; and
- Other relevant risks detailed in the Companyas filings with the Securities and Exchange Commission.
The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.
