Simei Media Co.,Ltd. commences an Equity Buyback Plan for CNY 500 million, under the authorization approved on November 30, 2018.
January 09, 2019
Share
Simei Media Co.,Ltd. (SZSE:002712) commences share repurchases on January 9, 2019, under the program mandated by the shareholders in the General Meeting held on November 30, 2018. As per the mandate, the company is authorized to repurchase for not more than CNY 500 million. The shares will be purchased at a price not exceeding CNY 10 per share. The repurchased shares will be used for the implementation of ESOP, equity incentives plan, conversion of the company’s convertible bonds, and reduction of share capital. The repurchase program is valid for a period of 12 months from shareholders' approval.
Simei Media Co.,Ltd. is a China-based integrated service advertising company. The Company is principally engaged in television advertising, content and content marketing, the Internet advertising, outdoor advertising, brand management and other advertising businesses. Other advertising business includes radio, magazines, newspaper and other advertising businesses, as well as strategic research services. The Company operates its business in domestic market.
SIMEI MEDIA CO.,LTD. 
