Wanhua Chemical announces share repurchase plan for up to CNY 500m

Wanhua Chemical Group Co., Ltd. (SSE:600309) announced its plan to repurchase shares via centralized bidding transactions. The total repurchase amount will be no less than CNY 300 million (inclusive) and no more than CNY 500 million (inclusive), sourced from the company's own funds. The repurchased shares will be used for cancellation to reduce the company’s registered capital. The repurchase price is capped at CNY 99.36 per share, not exceeding 150% of the average trading price of the company's stock in the 30 trading days preceding the board resolution. The repurchase period will be within 12 months from the date the shareholders' meeting approves the plan. The company has confirmed that directors, supervisors, senior management, controlling shareholders and persons acting in concert currently have no plans to reduce their holdings. A shareholder's meeting must still approve the plan.