In the face of the long-term “net breaking” state of the stock price, Chongqing Rural Commercial Bank Co.Ltd(601077) will start the stock price stability maintenance scheme again. The net assets per share of the bank have been lower than 987.7 yuan in the latest 2 months since the bank’s announcement of the closing conditions of the shares in the latest 4 months of this year, and the net assets per share have been stable for 20 consecutive months since the bank’s announcement. As of the closing of the day, the bank’s A-share price was 3.92 yuan. Previously, the Bank launched relevant stability maintenance plans three times in December 2019, June 2020 and January 2021.
According to the A-share price stabilization measures specified in the bank’s plan for stabilizing the stock price, Chongqing Rural Commercial Bank Co.Ltd(601077) will fulfill its obligation to stabilize the stock price by increasing the shares held by directors and senior managers without repurchase of shares. There are 9 persons involved, including 5 directors: Chairman Liu Jianzhong, executive director and President Xie Wenhui, executive director, vice president and Secretary of the board of directors Zhang peizong, director Zhang Peng and director Yin Xianglin; Four senior executives: Vice President Wang Min, vice president Dong Lu, vice president Shu Jing and Vice President Gao Song. The nine employees will increase their holdings with their own funds that do not exceed 15% of the salary (after tax) received from the bank in the previous year.
There is no price range in this increase plan. The increase will be carried out through centralized bidding trading through the trading system of Shanghai Stock Exchange, and the source of funds is its own funds. The purpose of the increase is to “actively stabilize the bank’s share price based on confidence in the bank’s future development prospects and recognition of the bank’s growth value”. The implementation period of shareholding increase is within 6 months from February 8, 2022. Subject to the sales restriction period of the bank’s annual report and quarterly report, this shareholding increase plan will be actually implemented after the release of the bank’s first quarter report in 2022.
