On February 5, Conch Cement announced that on February 3, 2024, when the company's repurchase period expired, it had actually repurchased 22.2425 million a shares, accounting for 0.42% of the company's total equity, and the highest repurchase price was RMB 23.89 per share. The lowest repurchase price is RMB 21.35 per share, the average repurchase price is RMB 22.51 per share, and the total amount of funds used is RMB 501 million (excluding transaction costs). The changes in the shares of the Company before and after the
share repurchase are as follows:
All a shares repurchased by the Company were deposited in the Company's special securities account for repurchase. Pursuant to the Company's a Share Repurchase Plan, the Company intends to sell the repurchased shares by way of centralized competitive trading 12 months after the disclosure of this announcement. If the company fails to complete the above sale within three years after the completion of the repurchase, the unsold part will be cancelled after the relevant procedures are fulfilled. The implementation of the plan for the
repurchase of a Shares will not have a material impact on the operation, finance and future development of the Company. Upon completion of the share repurchase, there will be no change in the control of the Company, and the shareholding distribution of the Company is in line with the conditions of a listed company and will not affect the listing status of the Company. In November
2023, Conch Cement announced that in order to safeguard the company's value and shareholders'rights and interests, it intends to use its own funds to repurchase a shares. The repurchase amount is not less than 400 million yuan (including) and not more than 600 million yuan (including). Conch Cement said that this is the first time in the company's history to launch a repurchase plan, based on the following reasons:
First, the company's share price has fallen below net assets per share, currently has a certain investment value, Conch hopes to maintain market value through repurchase;
Second, the company is firmly optimistic about the development of the industry, has sufficient capital reserves, and has the strength to implement repurchase;
third, the company's share price is in a downward period, the company's shareholders have been hoping that Conch Cement can actively maintain its value, and the company has said that it will actively respond to the demands of shareholders at an appropriate time;
Fourthly, as the industry leader and provincial enterprise, Conch Cement has the obligation to take the lead in maintaining the stability of the capital market and fulfilling its social responsibility.
