Zhejiang Red Dragonfly Footwear Co., Ltd. commences an Equity Buyback Plan for 30,000,000 shares, representing 5.13% of its issued share capital, for a total of CNY 300 million, under the authorization approved on December 6, 2018.
January 09, 2019
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Zhejiang Red Dragonfly Footwear Co., Ltd. (SHSE:603116) commences share repurchases on January 8, 2019, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 6, 2018. As per the mandate, the company is authorized to repurchase up to 30,000,000 shares, representing 5.13% of its issued share capital, for a total of CNY 300 million. The shares will be repurchased at a price of CNY 10 per share. Repurchased shares will be used for the company’s equity incentive plan. If the company is unable to implement the incentive plan within 36 months after the completion of the repurchase, the repurchased shares will be cancelled. The program will be valid for 6 months from the date of the Shareholder's Meeting.
ZHEJIANG RED DRAGONFLY FOOTWEAR CO.,LTD. is a China-based company principally engaged in the manufacturing and sales of shoes and apparels. The Company's main businesses include design, development, manufacturing and sale of leather shoes, leather goods and children's products. The Company distributes products under the brand named Red Dragonfly; its main products include adult men's and women's shoes, children's shoes and apparels, leather belts, wallets and leather handbags, among others. The Company operates its business in domestic market where the East China area serves as its main market.
Zhejiang Red Dragonfly Footwear Co., Ltd. commences an Equity Buyback Plan for 30,000,000 shares, representing 5.13% of its issued share capital, for a total of CNY 300 million, under the authorization approved on December 6, 2018.
ZHEJIANG RED DRAGONFLY FOOTWEAR CO., LTD. 