Summary by Moomoo AI
China Central Iron Co., Ltd. announced on December 29, 2023 that it will repurchase and write down some of its restricted shares under its 2021 Restrictive Stock Incentive Program. The move involved seven incentives, including employees who were called out of office due to organizational arrangements, deaths, active resignations, violations of the law, and the results of the 2022 Personal Assessment. The total number of restricted shares repurchased and written off is 156.6166 million shares at a repurchase price of RMB3.154 per share, plus the corresponding interest. The total amount of funds required for the repurchase is RMB5,019,639.80 and will be paid by the Company's own funds. Following this repurchase and write-off, the total number of shares of the Company will decrease from 24,752,195,983 shares to 24,750,629,817 shares. The Board of Supervisors and Legal Advisers consider that this repurchase write-off is in compliance with relevant laws and regulations and will not affect the Company's operating performance and financial condition.
