GCL Technology (03800) issued an announcement. The board of directors of the company announced that it has approved a plan (share repurchase, cancellation or dividend...
Zhitong Finance App News, GCL (03800) issued an announcement. The board of directors of the company announced that it has approved a plan (share repurchase and cancellation or dividend payment plan) to repurchase and cancel shares or distribute dividends to shareholders through the company's repurchase and cancellation of the company's common shares in the open market during the three-year period ending December 31, 2025, and December 31, 2026.
According to the share repurchase cancellation or dividend payment plan, depending on the market conditions at the time and the final approval of the board of directors at the relevant time: (1) The company will carry out share repurchase cancellation with a total cost of not less than RMB 680 million within the year ending December 31, 2024;
(2) During the share repurchase cancellation or dividend payment period (for the avoidance of doubt, including any share repurchase cancellation made by the company with respect to (1) above): The company will carry out a total share repurchase cancellation of no more than 60% of the total net profit attributable to the company owners over the three years ending December 31, 2024, and December 31, 2025; and under no circumstances will the total amount of share repurchase cancellations and/or dividends carried out by the company be less than RMB 2.5 billion.