SHIYUE DAOTIAN (09676) announced that the board of directors has resolved to exercise the share repurchase authorization, intending to utilize up to HK$1 billion of the company's own funds to repurchase H-shares in the open market (the Share Repurchase Plan). The repurchase price will not exceed 5% of the average closing price of the H-shares on the five trading days immediately preceding the actual repurchase date. When implementing the repurchase, the specific repurchase price will be determined within this range based on market conditions and the company's actual circumstances. The H-shares repurchased under the authorization may be cancelled or held as treasury shares, to be used for equity incentive plans at an appropriate time or for resale of treasury shares to raise funds. The board believes that the current trading price of the shares does not fully reflect the company's intrinsic value and business development prospects, and conducting the share repurchase demonstrates the company's confidence in its own business development prospects and growth potential. The board also believes that the Share Repurchase Plan aligns with the overall best interests of the company and its shareholders.
Comments