Shougang to cancel stock, reduce capital
Beijing Shougang Co., Ltd. (SZSE:000959) announced plans to repurchase and cancel the remaining 19,013,650 restricted shares under its 2021 Restricted Stock Incentive Plan, following resolutions passed at board, supervisory board, and shareholder meetings. This decision stems from the company's failure to meet performance targets for the third vesting period in 2024 and personnel changes among the incentive recipients. The cancellation will reduce the company's total share capital by 19,013,650 shares and registered capital by CNY 19,013,650. Creditors have 45 days from the date of this announcement to demand debt repayment or guarantees.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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