Shanghai Laiyifen Co.,Ltd announces an Equity Buyback for 5,000,000 shares, representing 1.47% of its issued share capital.
January 29, 2019 at 09:30 pm IST
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Shanghai Laiyifen Co.,Ltd (SHSE:603777) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 A shares, representing 1.47% of its own shares. The shares will be repurchased for a price not more than CNY 16.26 per share. The repurchased shares will be used for ESOP and equity incentive plan. The shares may be cancelled if the company is unable to implement ESOP and equity incentive plan. The plan will be valid for 12 months from the approval of the Board of Directors of the company.
Shanghai LaiYiFen Co., Ltd. is a China-based company primarily engaged in the management and operation of snack chain stores. It offers snacks including dried fruits, roasted seeds and nuts, aquatic products, preserved fruits, soy products, mushrooms, bamboo shoots, cakes, biscuits, candy, jelly, pudding, among others. The Company has snack stores in cities including Shanghai, Jiangsu, Zhejiang, Shandong, Hubei, Hunan, Anhui, Beijing, Tianjin, Sichuan and other regions. It also sells its snacks through www.laiyifen.com.
SHANGHAI LAIYIFEN CO.,LTD 
