CM BANK to Fully Redeem "Zhaoyin You 1" Preferred Shares on April 15

Stock News03-13

CM BANK (03968) has announced its plan to fully redeem 275 million non-publicly issued domestic preferred shares, originally issued in December 2017 under the name "Zhaoyin You 1" with code 360028. The total funds raised from the issuance amounted to RMB 27.5 billion. The redemption follows approvals granted by the company's 2016 annual general meeting, 2017 first A-share class meeting, and 2017 first H-share class meeting, which authorized the board of directors to handle matters related to dividend payments and redemption of the preferred shares. The board further delegated this authority to relevant executives. Executive Director and President Wang Liang, along with Non-Executive Director Zhu Liwei, have signed the decision to fully redeem the "Zhaoyin You 1" preferred shares and distribute corresponding dividends, pending approval from the National Financial Regulatory Administration. The company has now received a no-objection reply from the regulator and intends to proceed with the full redemption on April 15, 2026.

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