Securities code: 000876 securities abbreviation: New Hope Liuhe Co.Ltd(000876) Announcement No.: 2022-007 bond Code: 127015127049 bond abbreviation: hope to convert bonds, hope to convert 2
Announcement on early termination of repurchase of shares of the company
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
The 49th meeting of the 8th board of directors of New Hope Liuhe Co.Ltd(000876) (hereinafter referred to as “the company”) deliberated and adopted the proposal on early termination of repurchase of shares of the company. The details are as follows:
1、 Overview of share repurchase
The company held the 29th meeting of the 8th board of directors on January 25, 2021, which deliberated and adopted the plan on repurchase of some social public shares. It plans to use its own funds and other funds in line with regulatory policies and regulations of no less than RMB 200 million (inclusive) and no more than RMB 40 million (inclusive), Repurchase part of the company’s public shares by means of centralized bidding transaction, and the repurchase price shall not exceed RMB 34.40/share (inclusive). The company will carefully determine the specific repurchase price according to the stock price fluctuation and the overall market trend. The shares to be repurchased will be used for employee stock ownership plan or equity incentive. The term of this share repurchase shall not exceed 12 months since the board of directors deliberated and approved the share repurchase plan. See the relevant announcement published by the company on cninfo.com for details.
The company has established a special securities account for repurchase in Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. and disclosed the report on repurchase of company shares by centralized bidding transaction (Announcement No.: 2021-23) on February 4, 2021.
2、 Progress of share repurchase
On February 4, 2021, the company implemented share repurchase through centralized bidding transaction through the special securities account for repurchase for the first time; As of the disclosure date of this announcement, the company has repurchased 10017501 shares, accounting for 0.2224% of the total share capital of the company. The highest transaction price is 24.15 yuan / share, the lowest transaction price is 20.81 yuan / share, and the total amount paid is 229959017.80 yuan (excluding transaction expenses).
3、 Main reasons for terminating share repurchase
1. Since 2021, the company has encountered periodic challenges and difficulties. In order to ensure the stable operation of the company and achieve healthy development, the company gives priority to investing funds in the daily operation of the company in combination with capital needs. The company plans to terminate the implementation of this share repurchase.
2. According to Article 20 of the detailed rules for the implementation of share repurchase by listed companies of Shenzhen Stock Exchange, “a listed company shall not issue shares to raise funds during the repurchase period, except for issuing preferred shares in accordance with relevant regulations.”, In view of the company’s proposed non-public offering of shares, the board of directors of the company deliberated on the termination of the company’s share repurchase in accordance with the authorization of the general meeting of shareholders.
4、 Subsequent arrangements for repurchased shares
The number of shares repurchased this time is 10017501, all of which have been deposited in the company’s special securities account for repurchase. The shares repurchased this time are intended to be used for the implementation of the company’s employee stock ownership plan and equity incentive plan. If the company fails to implement the above plan, the shares repurchased by the company will be cancelled before the expiration of the three-year holding period according to law.
5、 Impact of termination of share repurchase on the company
Based on the requirements of relevant laws and regulations, the company terminates the share repurchase, which is conducive to safeguarding the long-term interests of the company and all shareholders, especially minority shareholders. There is no damage to the rights and interests of all shareholders, and will not have an adverse impact on the production and operation, financial status and shareholders’ rights and interests of the company.
6、 Opinions of independent directors
The termination of share repurchase is that the company is unable to meet the repurchase conditions because the current share price is continuously higher than the upper limit of repurchase price; At the same time, in combination with the actual operation of the company, in order to give better play to the maximum role of funds in production and operation, strive for better performance and create greater value for shareholders, it is decided to terminate the repurchase of the company’s shares after careful consideration. The termination of the repurchase of the company’s shares complies with relevant laws, regulations and the articles of association. The board of directors has performed necessary procedures when considering relevant proposals. This matter will not have an adverse impact on the company and small and medium-sized investors, and will not damage the legitimate rights and interests of all shareholders. We agree to terminate the share repurchase and submit it to the general meeting of shareholders for deliberation. It is hereby announced.
New Hope Liuhe Co.Ltd(000876) board of directors
January 6, 2002
