Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 4,004,530 H shares, representing 2.25% of its issued share capital, under the authorization approved on June 29, 2020.
July 21, 2020 at 06:08 am EDT
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Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) commences share repurchases on July 21, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2020. As per the mandate, the company is authorized to repurchase up to 4,004,530 H shares, representing 2.25% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The shares repurchased will be cancelled. The repurchases will be made out of the funds legally available for such purpose in accordance with all applicable laws, regulations, rules and/or requirements of the Hong Kong Stock Exchange or any other relevant governmental or regulatory authorities in the PRC. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 29, 2020, the company had 177,845,300 shares in issue, comprising 137,800,000 A shares and 40,045,300 H shares.
Shanghai Haohai Biological Technology Co., Ltd. is a China-based company principally engaged in biological technology-related businesses. The businesses of the Company include the manufacture and sales of biological and medical hyaluronate, the research and development of biological engineering and pharmaceutical products and the provision of related services. Its products include orthopedics products, medical aesthetics and wound care products, ophthalmology products and anti-adhesion and hemostasis products, among others. Orthopedics products include sodium hyaluronate injection, medical chitosan and medical sodium hyaluronate gel. Medical aesthetics and wound care products include recombinant human epidermal growth factor (rhEGF), among others. Ophthalmology products include ophthalmic viscoelastic devices and lubricant eye drops. Anti-adhesion and hemostasis products include medical collagen sponges, among others. The Company mainly operates businesses in Mainland China.
Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 4,004,530 H shares, representing 2.25% of its issued share capital, under the authorization approved on June 29, 2020.