Yantai China Pet Foods Co., Ltd. commences an Equity Buyback for CNY 100 million worth of its shares, under the authorization granted on April 14, 2023.
April 20, 2023 at 12:00 pm
Share
Yantai China Pet Foods Co., Ltd. (SZSE:002891) commences share repurchases on April 20, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 14, 2023. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 100 million. The shares will be purchased at a price not exceeding CNY 36 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. If the company fails to use the shares for the aforementioned purposes within 36 months from the date of completion of repurchase, the unused portion of the repurchased shares shall be cancelled. The program will be funded from company's own funds. The program will be valid for 12 months from the date of the shareholder's meeting.
On May 18, 2023, the company announced that the company adjusted the upper limit of the repurchase price from no more than CNY 36 per share to no more than CNY 35.95 per share.
YANTAI CHINA PET FOODS CO LTD is a China-based company mainly engaged in the manufacture and sales of pet food products. The Company is mainly engaged in research and development, manufacture and sales of pet food products for dogs and cats. The Companyâs main products include snacks and staple foods, such as canned food, biscuits and other dry foods. The Companyâs products have several series, such as chicken snack series, duck snack series, beef snack series, pork snack series, mutton snacks series, fish snack series, pet biscuits series, pet sausage series and others. The Companyâs main brands include Wanpy, Dr. Hao and others. The Company distributes its products within domestic market and to overseas markets.
Yantai China Pet Foods Co., Ltd. commences an Equity Buyback for CNY 100 million worth of its shares, under the authorization granted on April 14, 2023.
YANTAI CHINA PET FOODS CO., LTD. 
