The Board of Directors of Agria Corporation (NYSE:GRO) authorized a share repurchase program on April 1, 2013. Under the program, the company will repurchase up to $10 million of its ordinary shares or American Depositary Shares. Repurchases will be made in the open market or in privately negotiated transactions. Repurchased shares will be held in treasury as per the laws of Cayman Islands. The shares will be purchased from time to time at such prices, and in such manner ... as authorized by management depending upon market conditions. There is no guarantee as to the exact number of shares that may be repurchased and Agria may discontinue repurchases at any time where the management determines additional purchases are not warranted. The program is subject to further extension thereof with approval of the Transition Committee. The Board of Directors and senior management believe that the share price is undervalued and not reflective of the underlying value of our strategic investments and the share repurchase program underscores the company’s commitment to protect shareholder interests and enhancing shareholders' return. The share repurchase program is valid until December 31, 2013.
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