Wowjoint Holdings Limited Announces Completion of Stock Purchases by Executives
BEIJING, Aug. 13, 2012 /PRNewswire-Asia/ -- Wowjoint Holdings Limited ("Wowjoint," or the "Company") (Nasdaq: BWOW, BWOWU, BWOWW), China's innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced that certain of its Executive Officers have completed purchases of the Company's ordinary shares in the open market.
Yabin Liu, Chief Executive Officer & Director; Fude Zhang, Chief Technology Officer & Director; and Liguo Liu, Senior Vice President of Marketing conducted open market purchases of the Company's ordinary shares, predominantly through 10b5-1 programs adopted pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The purchases were conducted beginning in January 2012 and were concluded in July 2012. According to the announcement on December 19, 2011 the three executives would collectively purchase a minimum of 5,000 ordinary shares per month. The executives purchased a total of 37,810 ordinary shares as of July 2012.
"We continue to have a strong belief in Wowjoint's future success," stated Mr. Yabin Liu, Chief Executive Officer of Wowjoint. "We are dedicated to the Company and are pleased to have been able to show that dedication through buying the ordinary shares in the open market."
About Wowjoint Holdings Limited
Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers, marine hoists and special purpose equipment. The Company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint believes it is well-positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint's products and other relevant information are available on its website at http://www.wowjoint.com.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.
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SOURCE Wowjoint Holdings Limited