Jason Furniture to cancel restricted shares from incentive plan participants

Jason Furniture Hangzhou (SSE:603816) announced the repurchase and cancellation of 320,000 restricted shares from three former incentive recipients who no longer meet the eligibility criteria of the 2024 Restricted Stock Incentive Plan. The repurchase price per share is adjusted to CNY 10.46, totaling CNY 3,347,200, funded by the company's own capital. This action, approved by the board of directors and shareholders, aligns with the company's incentive plan and relevant regulations.

The legal opinion issued by Grandall Law Firm (Hangzhou) confirms that all necessary approvals and authorizations for the repurchase and cancellation have been obtained. The firm also stated that the company had established a dedicated securities account for the repurchase and filed an application with the China Securities Depository and Clearing Corporation Limited Shanghai Branch.

Following the cancellation, the company's total share capital will decrease by 320,000 shares to 821,451,519 shares, with restricted shares decreasing to 9,285,288 shares. The company has published a creditor notification, and no claims were received within the 45-day period. The final registration of the capital reduction with the industrial and commercial administration is pending.