Dehua TB New Decoration Material concludes second employee stock plan sales

Dehua TB New Decoration Material Co., Ltd. announced the full sale of shares under its second employee stock ownership plan, leading to its termination. The plan, approved by the board, supervisory board, and shareholders in late 2021, involved the transfer of 11,170,000 shares from the company's buyback account to the employee stock ownership plan's dedicated account on January 10, 2022. These shares represented 1.50% of the company's total share capital at the time.

The 11,170,000 shares, which constituted 1.35% of the current total share capital, were sold through centralized competitive bidding. The company confirmed strict adherence to market regulations and avoided using any inside information during the sale period.

The employee stock ownership plan had a 60-month duration from the date the shares were transferred, with unlocking periods set at 40%, 30%, and 30%. Following the completion of sales, the company will proceed with asset liquidation and distribution as per the plan's regulations.