Shenzhen Jiang&Associates Creative Design Co., Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on February 7, 2020.
Shenzhen Jiang&Associates Creative Design Co., Ltd. (SZSE:300668) commences share repurchases on February 27, 2020, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 7, 2020. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 50 million. The shares will be purchased at a price not exceeding CNY 25 per share. The shares bought back will be used to implement the equity incentive plan or employee stock ownership plan, if the company fails to implement within 36 months after the completion of share repurchase, the unused part shall be cancelled. The repurchase will be funded from company's own or self-raised funds. The repurchase program is valid for a period of 6 months from shareholders' approval.