M&G Stationery to cancel repurchased shares, reduce capital

Shanghai M&G Stationery (SSE:603899) announced plans to cancel a portion of its repurchased shares and subsequently reduce its registered capital. The decision, approved at the company's board and shareholder meetings, involves changing the use of 2,858,043 repurchased shares from "equity incentive or employee stock ownership plan" to "cancellation and corresponding reduction of registered capital." Following the cancellation, the company's total shares will decrease from 923,828,420 to 920,970,377, with registered capital decreasing from CNY 923,828,420 to CNY 920,970,377. The company has notified its creditors, who have 30 to 45 days to claim repayment or request security. The creditor claim registration period is open until early June.