Shenzhen Zowee Technology Co., Ltd commences an Equity Buyback Plan for CNY 300 million worth of its A shares.
January 22, 2019
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Shenzhen Zowee Technology Co., Ltd (SZSE:002369) commences share repurchases on January 22, 2019, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 23, 2018. As per the mandate, the company will repurchase up to CNY 300 million worth of its A shares. The shares will be purchased at a price not more than CNY 9 per share. The repurchased shares will be used for subsequent implementation of employee incentive (source of shares for equity incentive plan or ESOP) or to reduce registered capital. The program will be valid not more than 6 months from the date of shareholders meeting.
SHENZHEN ZOWEE TECHNOLOGY CO., LTD. is a China-based company principally engaged in the research, development, manufacture and sales of network communication products, consumer electronics products and intelligent terminal products. The Companyâs main products include digital subscriber line (XDSL) broadband access equipment, wireless network card, wireless module, router, data cards, long term evolution (LTE) gateways, wireless stereo, bluetooth stereo, smart phones, tablets and others.