Fujian Tianma's 2023 ESOP sells all shares, formally concludes

Fujian Tianma Science & Technology Group announced its 2023 employee stock ownership plan (ESOP) has completed the sale of all company shares. The ESOP, approved in July and August 2023, acquired 20,731,400 shares through secondary market concentrated bidding, representing 4.54% of the then total share capital. This was at an average price of CNY15.78 per share, totaling CNY327,201,200. The purchase phase concluded on March 8, 2024, initiating a lock-up period until March 8, 2025.

Following the company's 2023 profit distribution and capital reserve to share capital increase scheme, implemented by June 13, 2024, the ESOP's holdings increased to 22,804,540 shares, maintaining a 4.54% stake in the then total share capital. The ESOP adhered to market trading rules and regulatory guidelines, avoiding insider trading during sensitive periods.

With the lock-up period expiring on March 8, 2025, the ESOP's management committee will now proceed with asset liquidation and distribution according to relevant regulations. The ESOP, with a total duration of 36 months, will officially conclude on March 8, 2027.