Pingdingshan Tianan Coal Repurchases Shares Due to Incentive Plan Miss

Pingdingshan Tianan Coal Mining Co., Ltd. (Pingmei股份) announced it will repurchase and cancel 5,797,800 restricted shares from 629 incentive recipients. This action follows the company's failure to meet the third解除限售期 (unlocking period) performance conditions of its 2020 equity incentive plan, as its 2024 audited net profit attributable to shareholders, after deducting non-recurring gains and losses, was CNY 2.34 billion.

The repurchase price will be based on the original grant price plus interest calculated at the bank's同期存款 (current deposit) rate. The share cancellation is projected to be completed by July 31, 2025, reducing the company's total share capital from 2,475,153,755 shares to 2,469,355,955 shares. This adjustment impacts the company's share structure, reducing the number of restricted tradable shares to zero.