CSG Smart Science announced plans to use no less than 50 million yuan and no more than 100 million yuan of its own funds, self-raised funds, and special loans for share buybacks to repurchase a portion of its A-shares through centralized bidding. The repurchased shares will be cancelled to reduce registered capital, with a buyback price not exceeding 18.09 yuan per share. Based on this calculation, the expected number of shares to be repurchased ranges from 2.7639 million to 5.5279 million, accounting for approximately 0.35 percent to 0.71 percent of the company's total share capital. The buyback was proposed by Huang Mingsong, the controlling shareholder, actual controller, and chairman. Special loans for share buybacks will account for no more than 90 percent of the funding sources. The buyback plan still requires approval from the shareholders' meeting, and the implementation period is within 12 months from the date of approval.
Csg Smart Science&Technology Co LtdCompany announces share buyback for cancellation, reducing share count and potentially boosting EPS.