TCL Zhonghuan disclosed an announcement on the evening of September 28, saying it plans to use its own funds and/or self-raised funds to repurchase company shares through centralized bidding. The total repurchase amount will be no less than 400 million yuan and no more than 500 million yuan, for employee stock ownership plans and/or equity incentives. The repurchase price will not exceed 14.11 yuan per share. Based on the upper limit of 500 million yuan, the company estimates it can repurchase approximately 35.44 million shares, accounting for about 0.88 percent of its current total share capital. The actual number of shares repurchased will be determined by the number actually bought back when the repurchase period ends.
TCL Zhonghuan Renewable Energy Technology Co LtdTCL Zhonghuan plans to repurchase 400-500 million yuan of its own shares for employee stock ownership and equity incentives.
