CNEEC advances stock incentive plan, repurchases shares

China Nonferrous Metal Industry's Foreign Engineering And Construction (CNEEC) held its tenth board of directors' 10th meeting on September 24, 2025, approving several resolutions related to its 2022 restricted stock incentive plan. The board approved the first unvesting period for a portion of the restricted stock incentive plan's pre-granted shares, affecting one beneficiary who can unvest 37,158 shares. This decision was made after the conditions for unvesting were met, with the stock granted on October 13, 2023, reaching the end of its 24-month lock-up period on October 12, 2025.

Additionally, the board approved the repurchase and cancellation of 112,600 restricted shares from one pre-granted beneficiary who is no longer employed by the company. These shares, part of the 2022 restricted stock incentive plan, will be repurchased at their original grant price. This resolution, along with the decision to convene the fifth extraordinary general meeting for 2025, will be submitted to shareholders for approval. The general meeting will specifically address the repurchase and cancellation of these shares and related price adjustments.