Sinoma International to cancel over 18m restricted shares

Sinoma International Engineering Co. Ltd. announced its intention to repurchase and cancel 18,138,506 restricted shares from its 2021 incentive plan. The shares, held by 253 incentive recipients, did not meet the conditions for release from restriction. This action, approved by the board of directors and shareholders in July 2025, is expected to be completed by September 29, 2025.

Of the total, 14,960,411 restricted shares were from the initial grant to 185 incentive recipients, while 3,178,095 shares were from the reserved grant to 68 incentive recipients, both failing to meet the 2024 performance targets. Following the repurchase and cancellation, the company's total share capital will decrease from 2,639,958,030 shares to 2,621,819,524 shares.

The company's board confirmed that the decision-making process and information disclosure comply with relevant laws and regulations. All necessary procedures for the repurchase and cancellation have been initiated, with the company taking responsibility for any disputes that may arise.