China Leadshine Technology Co., Ltd. commences an Equity Buyback Plan for CNY 190 million worth of its shares, under the authorization approved on July 19, 2021.
September 09, 2021 at 05:00 pm
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China Leadshine Technology Co., Ltd. (SZSE:002979) commences share repurchases on September 9, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on July 19, 2021. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 190 million. The shares will be purchased at a price not exceeding CNY 42 per share. The program will be funded from company's own funds. The repurchased shares will be used for the implementation of equity incentives or employee stock ownership plans. The repurchase program is valid for a period of 12 months from shareholders' approval.
China Leadshine Technology Co Ltd is a China-based company primarily engaged in the research and development, production, sales and service of motion control core components of intelligent equipment. The Companyâs main products include servo systems products, stepper systems products and control technology products. The Company operates its business through three segments. The Drives segment engages in the production and sales of alternating current (AC) servo drives, low voltage servo drives, digital stepper drives and other products. The Controls segment engages in the production and sales of motion controllers, motion control cards, programmable logic controllers (PLCs) and other products. The Motors segment engages in the production and sales of AC servo motors, digital stepper motors and other products. The Company conducts its business in the domestic and overseas markets.
China Leadshine Technology Co., Ltd. commences an Equity Buyback Plan for CNY 190 million worth of its shares, under the authorization approved on July 19, 2021.