Shanghai Electric (02727) plans to repurchase some of its shares

Zhitongcaijing · 10/18 13:41

Zhitong Finance App News, Shanghai Electric (02727) announced that in order to maintain the company's value and shareholders' rights and promote the long-term sustainable development of the company, according to relevant regulations, the company plans to repurchase A shares or H shares (choose one of the two) based on the company's current business situation, financial situation and future development prospects.

Shareholders' meetings and class shareholders' meetings are requested to grant the board of directors a general authorization to decide to repurchase the company's issued A shares or H shares (choose one of the two) in accordance with market conditions and company needs. The details of the authorization are as follows:

1. Authorize the board of directors to repurchase no more than 10% of the company's issued A shares according to market conditions and company needs (calculated based on the total share capital of A shares on the date this bill was reviewed and approved by the shareholders' meeting and class shareholders' meetings) to protect the company's value and shareholders' rights and interests, or use the shares for employee stock ownership plans or equity incentives.

2. Authorize the board of directors to repurchase no more than 10% of the H shares issued by the company according to market conditions and company needs (calculated on the basis of the total H share capital on the date the bill was reviewed and approved by the shareholders' meeting and class shareholders' meetings), cancel the repurchased shares and/or hold the repurchased shares as treasury shares (subject to the “Articles of Association” in force at the time).