On March 28, Yango Group Co.Ltd(000671) (hereinafter referred to as " Yango Group Co.Ltd(000671) ") issued an announcement on the termination of the third phase of employee stock ownership plan.
The announcement shows that the third phase of ESOP plans to acquire 80 million shares held by Shanghai Jiawen through block trading on December 8, 2020, accounting for 1.93% of Yango Group Co.Ltd(000671) total share capital, with a transaction price of 6.27 yuan / share and a transaction amount of 510.6 million yuan. The third phase of the employee stock ownership plan received a total of 501.7 million yuan of share subscription funds from employees and advance funds from the controlling shareholder Fujian Sunshine Group Co., Ltd. as of the announcement date of December 10, 2020, the actual transaction amount was 501.6 million yuan. The remaining funds were used to pay transaction commissions and other expenses, and the company's shares were no longer purchased, which was consistent with the proposed share subscription approved by the 13th extraordinary general meeting of shareholders in 2020.
Yango Group Co.Ltd(000671) said that in view of the current changes in industry policies and market reasons, and considering that some employees who are mainly motivated have left their jobs, Yango Group Co.Ltd(000671) and industry performance have also fluctuated greatly, the employee stock ownership plan can not achieve the original intention of the plan. In order to better safeguard the interests of Yango Group Co.Ltd(000671) , shareholders and employees, Yango Group Co.Ltd(000671) according to relevant regulations and after careful consideration, decides to terminate this ESOP.
According to the announcement, according to the relevant provisions of the third phase of the company's employee stock ownership plan (Draft), the 33rd meeting of the 10th board of directors of Yango Group Co.Ltd(000671) agreed to terminate the third phase of the company's employee stock ownership plan in advance, and the Management Committee of the plan chose the opportunity to sell the shares held by all the holders. The income from the sale of shares shall be directly reimbursed by the Management Committee on behalf of the employees, including the capital cost and interest advanced by the controlling shareholder. The remaining funds (if any) shall be owned by Yango Group Co.Ltd(000671) the resigned holders and the non resigned holders. If the income from the sale of shares (after deducting taxes) is less than the sum of the corresponding capital principal and interest advanced by the controlling shareholder, only the corresponding income from the sale of shares shall be returned to the controlling shareholder.
