Hubei Jianghan New Materials Co., Ltd. (SHSE:603281) announces a share repurchase program. Under the program, the company will repurchase its own A shares for a total of CNY 400 million. The shares will be purchased at a price not exceeding CNY 30 per share.
The repurchased shares will be used for reduction of registered capital or used for employee stock ownership plan or equity incentives. The program will be funded from company's own funds own funds or loans from financial institutions. The program is subject to approval from shareholders.
The program will be valid for 12 months from the shareholders' approval.
