Mona Lisa will spend no more than $220 million to repurchase the company's shares for equity incentives

On November 30, Mona Lisa (stock code: 002918) recently issued an announcement that the company repurchased the company's shares in a centralized auction transaction, with a maximum repurchase amount of 220 million yuan and a repurchase price of 31.93 yuan / share, and the repurchase period did not exceed 12 months, and the repurchased shares will all be used for equity incentive plans or employee stock ownership plans.

It is understood that the type of shares to be repurchased this time is A shares. The total amount of funds repurchased is RMB110 million (inclusive) to RMB220 million (inclusive), and the total amount of repurchase funds is subject to the total amount of funds actually used. Based on the upper limit of the total repurchase funds of RMB220 million and the repurchase price of 31.93 yuan per share, the number of shares to be repurchased shall not exceed 6,890,072 shares, which shall not exceed 1.66% of the total share capital of 414,337,890 shares when the board of directors of the company deliberated on the repurchase. Based on the lower limit of the total repurchase funds of RMB110 million and the repurchase price of 31.93 yuan per share, the number of shares to be repurchased shall not be less than 3,445,036 shares, which shall not exceed 0.83% of the total share capital of 414,337,890 shares when the board of directors of the company deliberated on the repurchase. If the company implements ex-dividend matters such as bonus shares, conversion of capital reserves into increased share capital, and allotment of shares during the period of share repurchase, the number of repurchased shares will be adjusted accordingly from the date of ex-rights and ex-dividend of the stock price. The specific number of shares repurchased is based on the number of shares actually repurchased by the company at the expiration of the repurchase period or the completion of the repurchase.

For the purpose of this repurchase, mona Lisa based on the confidence in the future development prospects and the high recognition of the company's value, in order to further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's core backbone and outstanding employees, and jointly promote the company's long-term development, the company plans to repurchase part of the company's public shares through centralized bidding transactions on the basis of considering business development prospects, operating conditions, financial status, future profitability and the recent performance of the company's stock in the secondary market, and plans to repurchase part of the company's public shares through centralized bidding transactions with its own funds. The repurchased shares will be used entirely for equity incentive plans or employee stock ownership plans.

As of September 30, 2021 (unaudited), the Company's total assets were RMB11,159,243,500 and net assets attributable to shareholders of the listed company were RMB3,911,383,300. Assuming that the upper limit of 220 million yuan of the repurchase funds is fully used, the repurchase funds account for 1.79% and 5.11% of the company's total assets and net assets attributable to the shareholders of the listed company, respectively, accounting for a relatively small proportion. At the same time, as of September 30, 2021, the company's monetary fund balance was 2,363,241,600 yuan, and the company had sufficient funds to pay for the share repurchase.

The repurchase plan is based on confidence in the company's future development prospects and a high recognition of the company's value, and the company's management believes that the repurchase will not have a material adverse impact on the company's operations, finances, research and development and future development. After the completion of the repurchase, it will not lead to a change in the control of the company, nor will it change the listing status of the company, and the equity distribution will still meet the conditions of the listed company.

According to the data of the digging shell network, Mona Lisa is mainly engaged in the research and development, production and sales of high-quality architectural ceramic products. The main products can be divided into ceramic tiles, ceramic plates, rock slabs, porcelain art, of which ceramic tile products can be divided into porcelain glazed tiles, porcelain unglazed tiles and non-porcelain glazed tiles. The company has four major production bases of Foshan, Qingyuan, Fujian County and Gao'an, three major brands of "Mona Lisa ®", "QD®" and "Merchi ®" (rock slabs), and the sales channels are mainly based on the domestic market, supplemented by the international market.

This article originated from the digging shell network