Star-net to cancel restricted shares, reduce capital

Fujian Star-net Communication (SZSE:002396) announced the cancellation of 2,914,320 restricted shares following a board resolution on June 9, 2025, to adjust repurchase prices and cancel part of its 2022 restricted stock incentive plan. The move, in accordance with regulatory guidelines and the company's incentive plan, aims to address unmet vesting conditions. Post-cancellation, the company's total share capital will decrease from 588,609,418 to 585,695,098 shares, pending final registration with China Securities Depository and Clearing Corporation Limited Shenzhen Branch. Creditors are entitled to demand debt repayment or corresponding guarantees within 45 days from the announcement date, with the company outlining the necessary documentation for claims. Star-net provided contact information for inquiries and will proceed with the cancellation according to legal procedures if creditors do not exercise their rights within the stipulated period.