Suzhou Electrical Apparatus Science Academy Co., Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on August 11, 2020.
September 13, 2020 at 05:00 pm
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Suzhou Electrical Apparatus Science Academy Co., Ltd. (SZSE:300215) commences share repurchases on September 11, 2020, under the program mandated by the shareholders in the Extraordinary General Meeting held on August 11, 2020. As per the mandate, the company is authorized to repurchase Class A shares for not more than CNY 100 million. The shares will be purchased at a price not exceeding CNY 9.70 per share. The repurchases will be funded using company's own funds. The repurchased shares will be used for the implementation of employee stock ownership plan or equity incentive plan, otherwise will be cancelled thereby reducing the registered capital. The repurchase program is valid for a period of 12 months from the shareholders' approval.
Suzhou Electrical Apparatus Science Academy Co., Ltd. is a China-based company principally engaged in provision of technology services for electrical apparatus testing. The Company operates through two main segments. The Professional Technological Services segment is primarily involved in provision of low-voltage electrical apparatus testing services, high-voltage electrical apparatus testing services, environmental testing services and certification services. The Other Business segment is mainly involved in the research, development, construction, manufacture, sales and operation of testing software and systems, as well as provision of testing technological advisory services.
Suzhou Electrical Apparatus Science Academy Co., Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on August 11, 2020.
SUZHOU ELECTRICAL APPARATUS SCIENCE ACADEMY CO., LTD. 
