Stanley Agriculture Group Co.,Ltd. commences an Equity Buyback for CNY 50 million worth of its shares, under the authorization approved on January 5, 2024.
January 26, 2024 at 09:30 pm IST
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Stanley Agriculture Group Co.,Ltd. (SZSE:002588) commences share repurchases on January 26, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 5, 2024. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 50 million. The shares will be purchased at a price not exceeding CNY 7 per share. The repurchased shares will be used to cancel and reduce the company's registered capital. The program will be funded from company's own funds. The program will be valid for 12 months from the date of the shareholder's meeting.
On May 30, 2024, the company announced that it has adjusted its repurchase price from CNY 7 per share to CNY 6.87 per share. The adjustment will be effective from June 7, 2024.
Stanley Agriculture Group Co Ltd, formerly Stanley Fertilizer Co Ltd, is a China-based company principally engaged in the research, development, manufacture and distribution of compound fertilizers. The Company's main products include chlorine-based compound fertilizers, sulfur-based compound fertilizers, bulk blending (BB) fertilizers, other compound fertilizers and raw fertilizers. The Company distributes its products primarily in domestic markets.
Stanley Agriculture Group Co.,Ltd. commences an Equity Buyback for CNY 50 million worth of its shares, under the authorization approved on January 5, 2024.
STANLEY AGRICULTURE GROUP CO.,LTD. 
