Sipni (02583.HK) Plans Up to 30M RMB in H-Share Buybacks
Sipni (02583.HK) announced that the board intends to exercise the general mandate granted at the AGM to buy back H-shares on the open market of the Stock Exchange from time to time, depending on market conditions and actual circumstances. The buybacks will be funded from internal resources, with a total amount not exceeding 30M RMB equivalent in HKD.
The board stated that implementing buybacks while maintaining a sound financial position, and holding the repurchased H-shares as treasury shares, will help improve the company's long-term incentive mechanism, align interests of core team and key employees, support the market stock price, and enhance investor confidence.
Key Points of Buyback Plan
Method: Repurchase H-shares on the open market of the Stock Exchange from time to time.
Funding: Internal resources.
Maximum Scale: Total amount not exceeding 30M RMB equivalent in HKD.
Use of Shares: Repurchased H-shares held as treasury shares.
Purpose and Expected Impact
Improve long-term incentive mechanism, align interests of core team and key employees.
Support market stock price and enhance investor confidence.
