COOLPAD GROUP intends to further repurchase shares
COOLPAD GROUP announced that it will further repurchase shares in the open market to promote sustainable operations and protect investor interests. After thorough consideration, the board of directors decided that the repurchase price shall not exceed 5% of the average closing price of the previous five trading days. This plan reflects the management team's confidence in the company's future development and will convene a special shareholders' meeting to seek approval for the updated repurchase authorization
According to the Zhitong Finance APP, COOLPAD GROUP (02369) announced that in order to promote the company's sustainable operation and development, safeguard the long-term interests of investors, and maximize shareholder value, the board of directors has fully considered the company's current operating conditions, financial status, and future development prospects, and hereby announces that it has resolved to further repurchase shares in the open market depending on market conditions, but the actual repurchase price per share shall not exceed 5% (including 5%) of the average closing price of the shares for the five trading days immediately preceding each repurchase. The company's management team is confident about the group's prospects. The share repurchase plan reflects the confidence of the board of directors and management team in the company's long-term business prospects and growth. The board believes that the share repurchase plan is in the overall best interests of the company and its shareholders.
In addition, in light of the current application of the share repurchase plan and existing repurchase authorization, the board intends to update the existing repurchase authorization to allow for the repurchase of more shares as needed. The company will hold a special general meeting of shareholders to seek shareholder approval for the update and revision of the existing repurchase authorization
