State Grid Information & Communication reduces capital, buys back shares

State Grid Information & Communication (SSE:600131) will reduce its registered capital by canceling 1,592,125 restricted shares at a price of CNY8.84295 per share, for a total of CNY14,079,100. The move comes after some incentive plan beneficiaries left the company, and performance targets weren't met, as previously detailed in its announcements. This repurchase will reduce the company's total share capital from 1,201,316,544 shares to 1,199,724,419 shares. The company has notified its creditors about the planned capital reduction as required by regulations.