On May 21, Shanghai Guao Electronic Technology Co.Ltd(300551) issued an announcement on the initial repurchase of the company’s shares. On the 20th, the Company repurchased 1.09 million shares of the company for the first time through centralized bidding, accounting for 0.31% of the total share capital. The highest price of repurchase was 8.71 yuan / share, and the lowest price was 8.45 yuan / share. The total amount of funds paid was about 9.345 million yuan (excluding transaction costs).
According to public information, on April 22, the company held the 24th Meeting of the Fourth Board of directors and deliberated and adopted the proposal on repurchase of shares of the company. In order to safeguard the company’s value and shareholders’ rights and interests, the company plans to repurchase shares with its own funds by means of centralized bidding transaction at no more than 20.00 yuan / share, and the total amount of funds used for repurchase is no less than 50 million yuan and no more than 100 million yuan.
