Leju Finance Zhang LinxiaOn February 18, Tianan New Materials (603725SH) issued an announcement on the repurchase of shares through centralized bidding transactions and the implementation of the action plan of "improving quality, efficiency and return".
It is reported that in order to practice the "investor-oriented" development concept of listed companies, safeguard the interests of all shareholders of Guangdong Tianan New Materials Co., Ltd., hereinafter referred to as "the company"), implement the company's action plan of "improving quality and efficiency and emphasizing returns", and earnestly fulfill social responsibilities based on the confidence and value recognition of the company's future development prospects, and at the same time, in order to further establish and improve the company's long-term incentive mechanism, the company intends to repurchase part of the company's issued RMB ordinary shares (A shares) with its own funds through centralized bidding transactions.
It is also reported that the purpose of the shares to be repurchased is not less than RMB10 million (inclusive) and not more than RMB20 million (inclusive) for the maintenance of the company's value and shareholders' rights and interests (**The remaining shares will be used for equity incentives or employee stock ownership plans. If the company fails to complete the transfer of the repurchased shares within three years after the announcement of the implementation results of the share repurchase and the announcement of the share change, the repurchased shares that have not yet been transferred will be cancelled.
The total amount of funds used to repurchase shares shall not be less than RMB30 million (inclusive) and not more than RMB60 million (inclusive). The funds for this repurchase are the company's own funds.
The repurchase** shall not exceed RMB 8 shares (inclusive), and the upper limit of the repurchase** shall not exceed 150% of the average trading price of the company** in the 30 trading days before the board of directors of the company passed the resolution of the share repurchase plan.
Related company: Tianan New Material SH603725