Securities code: Appotronics Corporation Limited(688007) securities abbreviation: Appotronics Corporation Limited(688007) Announcement No.: 2022020 Appotronics Corporation Limited(688007)
Announcement on the company’s controlling shareholder’s proposal to repurchase shares
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law The board of directors of Appotronics Corporation Limited(688007) (hereinafter referred to as “the company”) received the letter on proposing Appotronics Corporation Limited(688007) repurchase of the company’s shares from Shenzhen Guangfeng Holdings Co., Ltd. (hereinafter referred to as “the controlling shareholder” or “Guangfeng Holdings”) on March 18, 2022. The controlling shareholder proposes that the company repurchase part of the issued RMB common shares (A shares) of the company through the trading system of Shanghai stock exchange with over raised funds in the form of centralized bidding trading. The specific contents are as follows:
1、 Basic information of the proposer and the proposal time
1. Proposer: Guangfeng holdings, the controlling shareholder of the company
2. Proposed date: March 18, 2022
2、 Reasons and purposes of the proposer’s proposal to repurchase shares
Based on the confidence in the future development prospect of the company and the high recognition of the value of the company, the controlling shareholders of the company propose to the board of directors of the company to repurchase the shares of the company with over raised funds in order to enhance the confidence of investors in the company and safeguard the interests of investors, and on the basis of the company’s operation, main business development prospect, financial status and future profitability, And use the repurchased shares for employee stock ownership plan or equity incentive at an appropriate time in the future, so as to further improve the corporate governance structure, build an innovative long-term incentive and restraint mechanism for the shareholding of the management team, ensure the realization of the company’s long-term business objectives, promote the consistency of interests and income sharing of all shareholders, and improve the overall value of the company.
3、 Content of the proposer’s proposal
1. Types of repurchased shares: RMB ordinary shares (A shares) issued by the company.
2. Purpose of Share Repurchase: it will be used for employee stock ownership plan or equity incentive at an appropriate time in the future. If the company fails to use up the repurchased shares within three years after the implementation result of share repurchase and the announcement date of share change, the unused repurchased shares will be cancelled. If the state makes adjustments to relevant policies, the repurchase plan shall be implemented according to the adjusted policies.
3. Way to buy back shares: through the trading system of Shanghai Stock Exchange, buy back shares by means of centralized bidding transaction.
4. Price of repurchased shares: no more than 27.00 yuan / share (inclusive).
5. Total funds for share repurchases: the total funds for share repurchases shall not be less than 10 million yuan (inclusive) and not more than 20 million yuan (inclusive).
6. Source of repurchase funds: over raised funds
7. Repurchase period: within 6 months from the date when the general meeting of shareholders deliberates and approves the repurchase plan.
8. The number of shares repurchased and its proportion in the total share capital of the company: Based on the current total share capital of 452756901 shares of the company, calculated according to the upper limit of the repurchase amount of 20 million yuan and the upper limit of the repurchase price of 27.00 yuan / share, the number of shares repurchased this time is 740700 shares, and the proportion of shares repurchased accounts for 0.16% of the total share capital of the company. According to the calculation of the lower limit of the repurchase amount of RMB 10 million and the upper limit of the repurchase price of RMB 27.00/share, the number of the repurchase is 370400 shares, accounting for 0.08% of the total share capital of the company. 9. The proposer proposes that this matter be submitted to the first extraordinary general meeting of shareholders of the company in 2022 for deliberation in the form of interim proposal.
4、 The situation of the proposer’s purchase and sale of the company’s shares within 6 months before the proposal
The controlling shareholder of the proposer did not buy or sell the shares of the company within 6 months before the proposal.
5、 Increase / decrease plan of the proposer during the repurchase period
The controlling shareholder of the proposer has no plan to increase or decrease the shares of the company during this repurchase.
6、 Proposer’s commitment
The proposer’s controlling shareholder promised that it would actively promote the company’s share repurchase as soon as possible, and would vote in favor of the company’s share repurchase proposal at the general meeting of shareholders.
7、 Opinions of the board of directors on the share repurchase proposal and subsequent arrangements
On March 18, 2022, the ninth meeting of the second board of directors held by the company deliberated and adopted the proposal on repurchase of shares of the company by means of centralized bidding transaction with 6 affirmative votes, 0 negative votes and 0 abstention votes. The independent directors of the company expressed their independent opinions on the repurchase of shares. For details, please refer to the website of Shanghai Stock Exchange (www.sse. Com. CN.) on March 21, 2022 Announcement on the plan of repurchasing shares of the company by means of centralized bidding transaction (Announcement No.: 2022021).
It is hereby announced.
Appotronics Corporation Limited(688007) board of directors March 21, 2022
