Multiple Listed Companies Rush to Review Buyback Plans Over the Weekend; Olympic Circuit's Major Shareholder Simultaneously Halts Share Reduction

Corporate Action

โดย 中国基金报·Read original

Summary · why it matters

Several listed companies convened emergency board meetings over the weekend, waiving meeting notice deadlines to urgently review and approve share buyback plans. The board of Shanghai Smith Adhesive New Material held an ad hoc meeting at 10 a.m. today, unanimously passing a proposal to repurchase shares through centralized bidding. The buyback fund size ranges from 50 million to 100 million yuan, with a maximum repurchase price of 45.98 yuan per share, a buyback period of three months, and funding from its own capital. Olympic Circuit also held an ad hoc board meeting over the weekend, planning to use no less than 200 million yuan and no more than 300 million yuan of its own or self-raised funds to repurchase shares at a price not exceeding 55 yuan per share, for employee stock ownership plans or equity incentives. Meanwhile, a major shareholder holding 20.11% of the company terminated a previously disclosed share reduction plan ahead of schedule without implementing any reductions. The board of RemeGen agreed to use its own or self-raised funds to repurchase shares, with the amount no less than 25 million yuan and no more than 50 million yuan, for employee stock ownership plans or equity incentives. Huaan Securities received a proposal from Chairman Zhang Hongtao, as the company's A-share closing price had fallen by a cumulative 26.46% over 13 consecutive trading days, triggering the buyback condition of being necessary to safeguard company value and shareholder rights. The proposal suggests a buyback fund of no less than 100 million yuan and no more than 200 million yuan, with the repurchase price not exceeding 150% of the average stock price over the 30 trading days before the board approves the buyback resolution, and a buyback period of no more than three months. The board will promptly study and formulate a plan.