Nanjing Hanrui Cobalt Co.,Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on December 8, 2023.
February 27, 2024 at 03:44 am
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Nanjing Hanrui Cobalt Co.,Ltd. (SZSE:300618) commences share repurchases on February 27, 2024, under the program mandated by shareholders in the Extraordinary General Meeting held on December 8, 2023. As per the mandate, the company is authorized to repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at no more than CNY 45.08 per share. The purpose of the program is to reduce the share capital of the company. The repurchased shares will be cancelled. The program will be funded from company's own funds. The authorization will be valid for 12 months.
On June 5, 2024, the company amended its share repurchase program. The shares will be repurchased at a price not exceeding CNY 44.98 per share. The adjusted share price shall take affect from June 13, 2024.
Nanjing Hanrui Cobalt Co Ltd is a company mainly engaged in research, development, production and sales of metal cobalt powder. The Company operates four segments: cobalt powder, cobalt salt, cobalt concentrate and electrolytic copper. The cobalt powder and other cobalt products are used in aviation, aerospace, electronic appliances, cobalt-containing new energy power batteries and other fields. The electrolytic copper products are used to produce copper pipes, copper wires and copper castings.
Nanjing Hanrui Cobalt Co.,Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on December 8, 2023.