Minimally Invasive Brain Science (02172) plans to carry out a share repurchase plan in the market

Zhitong Finance App News, Minimally Invasive Brain Science (02172) issued an announcement. The board of directors has approved a plan (proposed share repurchase plan) to exercise the general authorization (repurchase authorization) granted by the company's shareholders to the board of directors at the company's annual general meeting of shareholders to be held on June 26, 2024. According to this, shareholders have approved the repurchase authorization to purchase no more than 10% of the total number of shares issued on the day of the annual shareholders' meeting (excluding treasury shares) on the market. The maximum amount of capital to be used under the proposed share repurchase scheme shall not exceed RMB 200 million (or HKD equivalent).

The Board believes that shares traded on the market are undervalued. The board of directors also believes that the company's existing financial resources will allow it to use its own resources to carry out the proposed share repurchase plan, while also maintaining sufficient financial resources to support the continued growth of the company's business. The proposed share repurchase plan also reflects the board's confidence in the company's prospects.