C-MER Medical Repurchases to Cancel 11 Million Shares, Purchases 15 Million Shares for Award Scheme

MT Newswires Live07-12

C-MER Medical Holdings (HKG:3309) has repurchased and canceled about 11 million shares on the market for HK$41.6 million between Sept. 7, 2023, and July 11, 2024. The company plans to repurchase up to 125,556,087 shares in the open market, not exceeding 10% of the total issued shares.

In the same period mentioned above, the company's trustee purchased a little over 15 million of the company's shares for the share award scheme for HK$46.3 million, a Thursday filing with the Hong Kong Exchange said.

The trustee will hold on to the purchased shares until they are vested to the selected participants.

The company will be funding the purchase and repurchase through its internal funds.

The company's shares were up nearly 2% in recent trade.

Price (HKD): $2.64, Change: $+0.04, Percent Change: +1.54%

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