Sanxiong Aurora LED Co. Intends To Buy Back Its Shares With A Total Investment Of 50 Million Yuan To 100 Million Yuan.

- Dec 24, 2018-

On December 21, Guangdong Sanxiong Aurora Lighting Co., Ltd. (hereinafter referred to as "Company") issued a notice saying that on December 15, 2018, the company received a letter on proposing to buy back shares of the company issued by the controlling shareholders, the actual controllers, Mr. Zhang Yutao, Mr. Zhang Xianqing, Mr. Lin Yan and Mr. Chen Songhui (hereinafter referred to as "Proposer"). The main contents are as follows:


Main elements of the proposal


Based on the confidence in the future development of the company and the judgment of the company's value, in order to safeguard the interests of investors and enhance their confidence, we should further establish and improve the long-term incentive mechanism of the company, introduce employee stock ownership plan or equity incentive plan in time, effectively combine the interests of shareholders, companies and employees, and promote the long-term healthy and stable development of the company. According to the actual situation of the capital market, and considering the factors such as the company's financial situation, operating conditions and valuation level, the proposer proposes that the company repurchase some public shares. The specific scheme is as follows:


1. It is proposed that the company repurchase part of the public shares through the Shenzhen Stock Exchange trading system with its own funds or self-financing funds by means of centralized bidding transactions or other laws and regulations.


2. The types of shares proposed for repurchase are RMB common stocks (A shares) issued by the company. The total amount of funds for repurchase is not less than RMB 50 million yuan (including 50 million yuan), and not more than RMB 100 million yuan (including 100 million yuan), and the price of repurchase stocks is not more than RMB 18 yuan/share (including 18 yuan/share).


3. The period of implementation of the proposed share repurchase is 12 months from the date of the adoption of the share repurchase plan by the shareholders'meeting of the company.


4. The proposed repurchased shares shall be used as the stock source for the company to implement the equity incentive plan or employee stock ownership plan or be written off according to law to reduce registered capital and other purposes permitted by laws and regulations.



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