China Securities Regulatory Commission published on 6 June, the company repurchased public company management approach (for trial implementation) "(draft) to seek the views of society, seek the views of time up to June 12. The industry that allows the company to repurchase stock, is expected to further active market.
Draft that listed companies shares repurchase the public refers to listed companies for the reduction of the registered capital to buy the company's public stock (shares) and cancelled in accordance with the law. Companies listed on stock exchanges repurchase shares can take focused bidding way, manner, the Commission approved by other means, etc.
According to the requirements listed in the repurchase shares for a period not to issue new shares. In the annual report and semi-annual report disclosure before 5 days or have a significant impact on the price of public disclosure of information, listed companies must not bidding through centralized manner repurchase shares. Repurchase of shares from listed companies, leading shareholder of shares held, control over the company's issued shares of 30 per cent of the shareholders is not required to carry out the tender offer.
The shareholders in General Assembly resolutions on repurchase of shares subject to the approval of the meeting of the shareholders holding voting rights of more than 2/3. SFC from receiving the record material listed companies buy shares of 10 working days does not raise any objections, listed companies buy-back programmes can be implemented. Listed companies prior to implementation of repurchase programme shall be open for securities depository and clearing agencies by the stock exchange control of repurchase dedicated account. Listed companies by focusing on bidding way repurchase shares representing the proportion of listed companies ' total share capital increases by 1% each shall be the date of the facts which occurred two business days.
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