Chalco repurchases restricted shares, unlocks equity incentives

Aluminum Corporation of China (CHALCO) has approved the repurchase and cancellation of 660,751 restricted shares from 15 participants in its 2021 restricted share incentive scheme. This action stems from various reasons, including the retirement or termination of employment for eight participants (38,791 shares), disciplinary violations for five participants (445,560 shares), and two participants resigning voluntarily (176,400 shares). The total funds allocated for this repurchase, excluding interest, amount to RMB1,717,952.60.

In parallel, the company has adjusted the repurchase price of the restricted shares due to the distribution of an interim dividend for 2025 (RMB0.123 per share). The repurchase price for first grant restricted shares was adjusted from RMB2.72 to RMB2.60 per share, and for reserved grant restricted shares, from RMB1.88 to RMB1.76 per share. These adjustments and repurchases are not expected to materially impact Chalco's financial condition.

Furthermore, Chalco announced the satisfaction of unlocking conditions for the second unlocking period under the reserved grant of the 2021 restricted share incentive scheme. A total of 270 participants are eligible to unlock 7,742,752 restricted shares, representing approximately 0.045% of the company’s total share capital. The unlocking period commenced after the 36-month lock-up from the December 23, 2022, registration date, and all company and individual performance appraisal targets have been met.