Shandong Meichen Ecology and Environment Co., Ltd. commences an Equity Buyback Plan for 46,153,846 shares, representing 3.18% for CNY 300 million, under the authorization approved on December 27, 2018.
January 27, 2019 at 04:00 pm
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Shandong Meichen Ecology and Environment Co., Ltd. (SZSE:300237) commences share repurchases on January 28, 2019 under the program mandated by the shareholders in the Extraordinary General Meeting held on December 27, 2018. As per the mandate, the company is authorized to repurchase not more than 46,153,846 shares, representing 3.18% of its own shares for not more than CNY 300 million. The shares will be repurchased at a price of not more than CNY 6.5 per share. The plan will be valid for 12 months from the shareholders’ approval.
Shandong Meichen Ecology & Environment Co., Ltd., formerly Shandong Meichen Science & Technology Co., Ltd., is principally engaged in the research, development, production and sale of rubber products applied as automobile components. The Companyâs products consist of rubber distance rods, air springs, chair air springs, chassis air springs, power assembly suspensions, radiator and exhaust pipe suspensions, rubber supports, beams, fender supports, cab supports, air suspensions, rubber suspensions, turbo charger air pipes, intercooler in and out pipes, filter air pipes, engine cooling water pipes, braking soft tubes, engineering machinery tubes, as well as engineering plastic products, among others. The Company distributes its product within domestic market and to overseas markets.
Shandong Meichen Ecology and Environment Co., Ltd. commences an Equity Buyback Plan for 46,153,846 shares, representing 3.18% for CNY 300 million, under the authorization approved on December 27, 2018.
SHANDONG MEICHEN ECOLOGY & ENVIRONMENT CO.,LTD. 
