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ZTE Plans to Spend Max. RMB1.2B to Buy Back A-shrs for Employee Shr Ownership Schemes or Shr Incentives
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ZTE (00763.HK) announced its intention to repurchase its A-shares by way of centralized price bidding using internal funds, which A shares will be allotted for the implementation of the Company's employee share ownership schemes or share incentives. The total amount of the Repurchase shall be not less than RMB1 billion and not more than RMB1.2 billion. Based on the maximum repurchase amount of RMB1.2 billion and the cap of the A share repurchase price of RMB63.09 per share, the number of shares to be taken up by the Company under the Repurchase is estimated at approx. 19.0204 million shares, accounting for approx. 0.4% of the current total share capital of the Company, subject to the actual number of shares repurchased upon the conclusion of the repurchase period. The Repurchase may be conducted within 12 months from the date on which the plan for the Repurchase is considered and approved by the Board of Directors. AASTOCKS Financial News Website: www.aastocks.com |
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