Nanjing Tanker Corporation commences an Equity Buyback Plan for CNY 150 million worth of its shares, under the authorization approved on January 11, 2024.

Nanjing Tanker Corporation (SHSE:601975) commences share repurchases on January 12, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 11, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 150 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 4.2 per share.

The shares to be repurchased will be canceled to reduce the registered capital. The program will be funded out of the company's own funds. The program will be valid till 12 months from the date of approval by shareholders.