Summary by Moomoo AI
China Transport Construction Co., Ltd. (“Chinatown Construction”) announced that it will repurchase a total of 150 million shares of restricted shares of 8 delisted incentive objects under the 2022 Restrictive Shares Incentive Program. These incentives no longer meet the requirements of the incentive plan for reasons such as organizational moves or improper performance of duties. The repurchase price is RMB5.33 per share, plus the corresponding interest on the bank's fixed deposit. The repurchase and write-off is expected to be completed on April 29, 2024. At that time, the total share capital of the company will decrease from 16,280,111,425 shares to 16,278,611,425 shares. In addition, CIC also announced an adjusted final dividend per share, from an original RMB 0.29253 to RMB0.29256 to reflect the distribution following the reduction in share capital. The distribution of dividends is subject to approval by the Annual General Meeting and is expected to be distributed to shareholders no later than 13 August 2024.