Qingdao Sentury Tire Co., Ltd. commences an Equity Buyback Plan for CNY 250 million worth of its shares, under the authorization approved on February 23, 2024.
March 01, 2024 at 11:00 am
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Qingdao Sentury Tire Co., Ltd. (SZSE:002984) commences share repurchases on March 1, 2024, under the program mandated by the shareholders in the Annual General Meeting held on February 23, 2024. As per the mandate, the company is authorized to repurchase up to CNY 250 million worth of its shares. The repurchase price will not more than CNY 35 per Share. The repurchased shares will be used for cancellation and reduction of registered capital. The repurchases will be funded using company's own funds. The repurchase period will be not more than 12 months.
On April 23, 2024, the company announced that it has adjusted its share repurchase price from 24.73 per share to no more than RMB 32.77 per share.
Qingdao Sentury Tire Co Ltd is engaged in research and development, production and sales of various types of tires. The Company's products are comprised of passenger car tires, including economic tires, high-performance passenger car tires and special performance tires; light truck tires; special tires, including racing tires and aviation tires. The Company owns four brands which are SENTURY, LANDSAIL, DELINTE and GROUNDSPEED.
Qingdao Sentury Tire Co., Ltd. commences an Equity Buyback Plan for CNY 250 million worth of its shares, under the authorization approved on February 23, 2024.