Suzhou Dongshan Precision Proposes Cancellation of 1.6 Million Repurchased Shares
MT Newswires Live
Yesterday
Suzhou Dongshan Precision Manufacturing (HKG:2384) proposed canceling about 1.6 million repurchased A shares and reducing its registered capital accordingly.
The shares were bought back for approximately 25 million in January 2024 for an employee share ownership or equity incentive scheme but were not used within the required three-year period, according to a Friday Hong Kong bourse filing. The cancellation requires shareholder approval.
Following the cancellation, the Chinese precision manufacturing company's total issued share capital will fall to approximately 1.94 billion shares from about 1.95 billion, assuming the H-share over-allotment option is not exercised.
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