Sanyou Medical announced that its board of directors has approved a share buyback plan through centralized bidding. The company intends to use its own funds and a special stock buyback loan to repurchase shares at a price not exceeding 18.90 yuan per share, with a total buyback amount of no less than 90 million yuan and no more than 180 million yuan. The buyback period is within six months from the date of board approval. Based on the maximum buyback price, the estimated number of shares to be repurchased ranges from 4.7619 million to 9.5238 million shares, accounting for 1.30 percent to 2.60 percent of the company's total share capital. The repurchased shares will be used for equity incentives or employee stock ownership plans. If not fully utilized within three years, the remaining unused repurchased shares will be cancelled. The company has obtained a loan commitment letter from the Jiading sub-branch of Shanghai Pudong Development Bank, promising to provide a special loan for the stock buyback.
Shanghai Sanyou Medical Co LtdCompany announces share buyback plan of 90-180 million yuan, signaling confidence and providing price support.