Midea Group Plans to Introduce Diversified Employee Stock Ownership Plan at KUKA

Stock News05-27

Midea Group Co.,Ltd. announced its intention to implement a diversified employee stock ownership plan at its subsidiary KUKA Roboter Automation (Guangdong) Co., Ltd. (referred to as "KUKA") to accelerate the rapid development of KUKA's business. Participants in the stock ownership plan will include KUKA's directors, senior executives, and core employees, who will subscribe to newly issued shares of KUKA through the establishment of partnership or corporate platforms. The total number of shares involved will not exceed 7 million, accounting for approximately 0.7% of KUKA's total shares. Following the completion of the plan, Midea Group will remain the controlling shareholder of KUKA.

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