Howell Group announced plans to change the use of 8.7502 million A-shares held in its repurchase special securities account to cancellation and reduction of registered capital. The company's previous repurchase program had a total funding amount of no less than 800 million yuan and no more than 1 billion yuan, with a repurchase price not exceeding 100 yuan per share. The shares were originally intended for employee stock ownership plans or equity incentives. As of July 1, the repurchase was completed, with a cumulative total of 8.7502 million shares repurchased, accounting for 0.69 percent of the total share capital at that time, and a total payment of 813 million yuan. Based on actual operating conditions and development strategy, and to enhance shareholder value, the company decided to change the use and cancel the shares. After the cancellation, the total number of shares will decrease from 1.258 billion to 1.249 billion.
Will Semiconductor Co LtdCompany cancels repurchased shares to reduce capital, enhancing shareholder value.