Guangzhou Automobile Group (02238) announced that the company plans to use its own funds to repurchase the company's shares through centralized bidding transactions...
According to the Zhitong Finance App, Guangzhou Automobile Group (02238) announced that the company plans to use its own funds to repurchase the company's shares through centralized bidding transactions.
The repurchase price of A-shares is not higher than 13.34 yuan/share. This price is not higher than 150% of the average transaction price of the company's A-shares in the 30 trading days before the board of directors passed the share repurchase resolution. The price of H shares repurchased each time is not higher than 105% of the average closing price of the company's H shares in the 5 trading days before the repurchase.
The total capital for repurchasing A-shares is not less than RMB 100 million and not more than RMB 200 million (all inclusive); the total capital for H shares to be repurchased is not less than RMB 400 million and not more than RMB 800 million (all include the principal amount, which is ultimately converted to HK$ based on the exchange rate).
The A-share shares repurchased by the company are used by the company to implement an equity incentive plan or employee stock ownership plan. If the company fails to use up the purchased shares within 36 months after the share repurchase is completed, the unused repurchased shares will be cancelled; the H shares repurchased by the company will be cancelled.