According to the news of Red Star capital Bureau on April 23, Byd Company Limited(002594) ( Byd Company Limited(002594) . SZ) announced that the board of directors of the company reviewed and approved the share repurchase plan, and planned to repurchase shares at a price of 1.8 billion-1.85 billion yuan, with a repurchase price of no more than 300 yuan / share. All the repurchased shares will be used to implement the company's employee stock ownership plan.
According to the employee stock ownership plan disclosed on the same day, the participants of the employee stock ownership plan include the company's employee representative supervisors, senior managers, middle-level managers and core backbone employees of Byd Company Limited(002594) group. The total number of participants does not exceed 12000, the transfer price is 0 yuan / share, and the participants do not need to contribute.
Calculated by 1.8 billion yuan to buy back shares and 12000 participants, equivalent to an average of 150000 yuan worth of shares per person free of charge
12000 people participated in the ESOP
The total amount of shares repurchased by the company (excluding RMB 1.8 billion), which is less than RMB 1.8 billion, does not include RMB 1.8 billion. The repurchase price shall not exceed 300 yuan / share, and the specific price will be comprehensively determined in combination with the stock price of the company's secondary market, the company's financial status and operating conditions.
Calculated according to the upper and lower limits of the repurchase amount respectively, Byd Company Limited(002594) the estimated number of shares to be repurchased this time is 6 million-6166700 shares, accounting for about 0.206% - 0.212% of the total issued share capital of the company.
Byd Company Limited(002594) said that in order to further activate the company's technological innovation ability, maintain the industry competitive advantage and promote the company's long-term sustainable development, the company plans to repurchase shares for the employee stock ownership plan, continuously improve the long-term incentive and restraint mechanism of mutual benefit and win-win results, effectively combine the interests of shareholders, the company, the core team and individuals, and improve the overall value of the company.
Byd Company Limited(002594) announcement shows that the company's employee stock ownership plan will transfer the company's shares to be repurchased through non transaction transfer and other ways permitted by laws and regulations. The transfer price is 0 yuan / share, and the participants do not need to contribute.
The total number of people participating in the ESOP is no more than 12000, including 14 employee supervisors Wang Zhen, Tang Mei and senior managers Li Ke, Lian Yubo, he long, Liu Huanming, Luo Hongbin, Wang Chuanfang, Ren Lin, Wang Jie, he Zhiqi, Zhou Yalin, Yang Dongsheng and Li Qian, and no more than 11986 other employees.
Red Star capital Bureau noted that from the perspective of distribution proportion, the planned distribution share of the above 14 directors, supervisors and senior executives accounts for 7%, and they can obtain 9-9.25 million yuan of shares on average
3 year revenue of 400 billion yuan
The announcement shows that the underlying shares held by the employee stock ownership plan are unlocked in three phases. The unlocking time points are 12 months, 24 months and 36 months from the date when the company announces the last transfer of the underlying shares to the name of the employee stock ownership plan. The proportion of the underlying shares unlocked in each phase is 30%, 30% and 40% respectively. The specific unlocking proportion and quantity of each period shall be determined according to the results of the company's performance assessment and individual performance assessment.
The employee stock ownership plan takes three fiscal years from 2022 to 2024 as the performance evaluation year, and the evaluation is conducted once in each fiscal year. In terms of the company's performance, the performance assessment indicators of the three unlocking periods are, the growth rate of revenue in the audited consolidated financial statements shall not be less than 30%, 20% and 20%
The announcement made it clear that if the company's performance appraisal indicators are met, the underlying stock rights and interests corresponding to each period of the employee stock ownership plan can be unlocked. If the performance evaluation index of the company corresponding to an unlocking period is not reached, the underlying stock rights and interests corresponding to the unlocking period shall not be unlocked and shall be recovered by the company at the price of 0 yuan Red Star capital Bureau noted that according to the revenue of Byd Company Limited(002594) 2021 of 216142 billion yuan, the revenue from 2022 to 2024 will sprint 280985 billion yuan, 337182 billion yuan and 404618 billion yuan respectively
At the individual performance level, the employee stock ownership plan will assess the individual performance according to the relevant provisions of the company's competitive assessment. The unlocking proportion of excellent, good and up to standard individuals is 100%, to be improved is 80%, and the incompetence is 0.
Byd Company Limited(002594) said that the stock ownership plan fully considered the restraint mechanism for employees, set the lock-in period of the employee stock ownership plan, and specifically unlocked the indicators of the company's performance appraisal and individual performance appraisal. The setting of the appraisal indicators is challenging and can fully convey the company's vision for future performance growth Byd Company Limited(002594) said that the pricing principle of the employee stock ownership plan is reasonable and scientific, and there is no situation that damages the interests of the company and all shareholders.
