Ningbo Deye Technology Group Co., Ltd. (SHSE:605117) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at no more than CNY 130 per share.
The purpose of the program is to use the repurchased shares for the employee stock ownership plan or equity incentives at an appropriate time in the future and will be transferred within three years after the company discloses the results of the share buyback and the announcement of changes in shares. The program will be funded from own funds and a dedicated share repurchase loan. The program will be valid for 12 months.
