As of November 10, Realcan Pharmaceutical Group (002589.SZ) announced that the company plans to use its own funds and special loan funds for share buyback to repurchase some of the company's issued Renminbi ordinary shares (A shares) through centralized bidding trading. The repurchased shares will be used for employee shareholding plans or stock-based incentives at a suitable time in the future and will be transferred within three years after the announcement of the results of the share repurchase and share changes; the repurchase amount will not be less than RMB 100 million (inclusive) and not more than RMB 200 million (inclusive); the repurchase price will not exceed RMB 4.5 per share.
The company has obtained a commitment letter for stock buyback/shareholding loans from CEB Bank Yantai Branch Co., Ltd. (referred to as "CEB Yantai Branch"), committing to provide special loans for the company's A-share repurchase, with a maximum loan amount not exceeding RMB 100 million (inclusive), a loan limit not exceeding 70% of the total repurchase amount, and a loan term of 1 year.
