On May 4, Shanghai Weaver Network Co.Ltd(603039) announced that based on the confidence in the company’s future development prospects and high recognition of the company’s value, and in combination with the company’s operation, main business development prospects, the company’s financial status and future profitability, the company plans to buy back the company’s shares with its own funds for the implementation of the company’s equity incentive, so as to further establish and improve the company’s long-term incentive mechanism and benefit sharing mechanism, Fully mobilize the enthusiasm of the company’s employees, attract and retain excellent talents, improve the cohesion and core competitiveness of the enterprise, and promote the healthy and sustainable development of the company.
The company said that the repurchased shares will be fully used for equity incentive at an appropriate time in the future. If the repurchased shares are not used within 36 months after the completion of share repurchase, the unused repurchased shares will be cancelled.
The announcement shows that the total amount of funds to be repurchased this time shall not be less than 120 million yuan, not more than 200 million yuan, and the repurchase price shall not exceed 60 yuan / share. The repurchase period shall be within 6 months from the date when the board of directors deliberates and approves the share repurchase plan, that is, from May 5, 2022 to November 4, 2022.
On the same day, the company also received the notification letter on the planned increase of the company’s shares from Mr. weilidong, the controlling shareholder of the company. Mr. weilidong plans to increase the company’s shares with his own funds, with the increase price of no more than 60 yuan / share, and the increase amount of no less than 30 million yuan and no more than 50 million yuan.
