Gelonghui October 3rd 丨Cornerstone Pharmaceutical-B (02616.HK) issued an announcement. The board of directors was informed by Dr. Yang Jianxin (CEO and executive director of the company) that while complying with applicable laws and regulations, Dr. Yang intends to acquire the company's shares on the open market within about six months from the date of this announcement. According to information provided by Dr. Yeung, the total cost of additional shareholding is expected to be no more than HK$5 million. Furthermore, according to Dr. Yang, the shares to be increased will be used for medium- to long-term investment purposes, and there is currently no intention to sell the relevant shares within 12 months after the increase in shares. The capital required to increase shareholding is owned or self-funded.
The board of directors believes that the proposed increase in shares fully demonstrates the CEO's confidence in the company's prospects and growth potential and recognition of the company's long-term investment value.