Yanzhou Coal to buy back incentive shares

Yanzhou Coal Mining (SSE:600188) announced that it will repurchase and cancel 237,986 A-shares that have been granted to 41 incentive recipients under its 2021 A-share incentive plan but are not yet vested. The decision, approved by the company's board, is due to the recipients' changed roles and unmet performance standards. The repurchase price is set at 1.4033 yuan per share, totaling approximately 427,406 yuan including interest, funded from company’s own capital. Following the repurchase, the company’s total number of shares will be 10,037,480,544. The company has already received necessary approvals and believes the move aligns with regulatory requirements and does not materially impact its financial condition or management team. Simultaneously, the company will lift restrictions on 3,673,870 shares granted to 1,171 recipients as performance targets have been met for the second vesting period.