Shenzhen Enrich Electronics Co.,Ltd

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Company News >> TCL plans to repurchase shares of 15 to 2 billion yuan
On the evening of January 10th, TCL issued a notice stating that the company intends to use its own funds, self-raised funds and other financing methods to repurchase the company's shares in a centralized bidding transaction. The total amount of repurchase is not less than RMB 1.5 billion (inclusive). Not more than RMB 2 billion (inclusive), the repurchase price does not exceed RMB 3.80/share (inclusive), and the specific repurchase amount is based on the number of shares actually repurchased at the end of the repurchase period.

 

TCL pointed out that as a representative of the national competitiveness of China's semiconductor display and materials business, the company has broad prospects for future development and huge growth potential. Based on the confidence in the company's future development and the maintenance of the interests of investors, combined with the recent performance of the company's stock secondary market, and considering the company's operating conditions and financial conditions, the company plans to buy back the company's shares.

 

The announcement shows that the purpose of this repurchase of shares includes, but is not limited to, subsequent use in employee stock ownership plans or equity incentives; it is used to convert convertible corporate bonds issued by listed companies; or necessary to maintain corporate value and shareholders' equity (It should meet one of the following conditions: 1 The closing price of the company's stock is lower than its latest net asset per share; 2 The company's stock closing price has fallen by 30% in 20 consecutive trading days. The share repurchase under this use shall be from the company. The board of directors deliberated and implemented the project within 3 months from the date of adjustment of the repurchase plan. If the company fails to implement the above plan, the shares repurchased by the company will be cancelled according to law.

 

TCL said that the company's repurchase of shares is legal and compliant, which is conducive to protecting the interests of investors, maintaining the company's market image, and will not affect the company's future financial status, operating results and continued profitability, in line with the interests of the company and all shareholders.

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