FilingReader Intelligence

JL Mag to cancel shares, notifies creditors

May 30, 2025 at 05:16 PM UTCBy FilingReader AI

JL Mag Rare-Earth Co., Ltd. [JL Mag] has announced plans to repurchase shares for cancellation and reduction of registered capital. The decision follows resolutions passed at the fourth session of the Board of Directors and the fifth session of the Board of Supervisors on April 25, 2025, and the 2024 Annual General Meeting on May 28, 2025. The company will use its own funds or self-raised funds, including special loans for stock repurchase, to repurchase A-shares through centralized bidding. The self-raised funds should not exceed 90% of the total repurchase amount which ranges from CNY 100 million to CNY 200 million. The repurchase price will not exceed CNY 31.18 per share. Creditors have 30 days from receiving notification or 45 days from the date of this announcement to claim debt repayment or guarantees, and the company will continue to fulfill its debt obligations.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:300748Shenzhen Stock Exchange

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