Guangdong Mingzhu Group Co.,Ltd announces an Equity Buyback for 39,446,800 shares, representing 5% for CNY 249.7 million.
May 12, 2021
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Guangdong Mingzhu Group Co.,Ltd (SHSE:600382) announces a share repurchase program. Under the program, the company will repurchase up to 39,446,800 A shares, representing 5% for CNY249.7 million. The shares will be repurchased at a price not more than CNY 6.33 per share. The purpose of this repurchase is to maintain the company’s value and shareholders’ rights and interests. The shares repurchased will be sold in a centralized bidding transaction twelve months after the announcement of the repurchase results, and the sale will be completed within three years after the announcement of the repurchase results. If the company fails to implement the sale within the statutory period, the shares that have not been sold will be cancelled according to law. The program will be valid for a period of 3 months.
Guangdong Mingzhu Group Co., Ltd is a China-based company, principally engaged in trading business. The Company's products mainly include metal hardware as well as building materials and accessories. Through its subsidiaries, the Company is also principally engaged in the manufacture and sales of valve products, sales of steel, building materials and chemical products, as well as development and sales of properties. The Company conducts its businesses mainly in Southern China and Central China.