BEIJING, Sept. 6, 2011 /PRNewswire via COMTEX/ -- Hollysys Automation Technologies, a leading provider of automation and control technologies and applications in China, today announced that several members of the company management, lead by the Chairman and CEO, have purchased approximately 725,467 shares of Hollysys as of today.
The Company announced the management stock purchase plan on August 15, 2011, in which the management persons lead by Dr. Changli Wang, the Chairman and CEO, would commit up to $7.5 million US dollars for their purchase.
Dr. Changli Wang, Chairman and CEO of Hollysys, commented: "We are pleased to provide an update on the significant progress of our management stock purchase plan, which demonstrates our confidence in Hollysys' strong business fundamentals and prospects, and our unshakeable commitment to supporting and protecting our shareholders' value during difficult times. We will provide further updates on our stock purchase plan status in the next week or two. As the Chairman and CEO, I am putting more of my efforts in communicating with our investors at this difficult time. I am attending J.P. Morgan's Greater China Factory Automation Corporate Access Days in Hong Kong and Singapore this week, and I am also scheduled to attend Daiwa Green Day 2011 in Singapore on September 30. We are trying our best to create shareholders' value from both business fundamental and investor communication perspectives."
Mr. Peter Li, CFO of Hollysys, stated: "We are scheduled to hold this year's Annual Investor Day on October 20 at our Beijing premises, a 6-hour fully packed event with key management presentation and facility tour, through which we hope to enhance investors' understanding of our team and business. Investors who would like to participate in this event shall contact their respective broker to make a reservation, which is on limited availability basis. We look forward to hosting our investors at our Annual Investor Day!"
Hollysys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, Hollysys has approximately 3,500 employees with nationwide presence in over 40 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 2000 customers in the industrial, railway, subway & nuclear industries in China, south-east Asia, and the middle east. Its proprietary technologies are applied in its industrial automation solution suite including Distributed Control System (DCS), Programmable Logic Controller (PLC), RMIS, HAMS, OTS, and other products, high-speed railway signaling system of Train Control Center(TCC) and Automatic Train Protection (ATP), and other products, subway supervisory and control platform (SCADA), and nuclear conventional island automation and control system.