Shandong Iron and Steel Company Ltd. (SHSE:600022) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 1.9 per share. The repurchases will be funded using company's own funds. The shares repurchased will be used as equity incentives and unused portion will be legally cancelled/written off correspondingly reducing the company’s registered capital. The program will be valid for 12 months.