Stock Code: 000553(200553) Stock Abbreviation: ADAMA A (B) NO. 2020-52
ADAMA Ltd.
Announcement on the First Repurchase of the B-Shares
The Company and all members of the Company’s Board of Directors confirm that all
information disclosed herein is true, accurate and complete, with no false or misleading
statement or material omission.
The 26th Meeting of the 8th Session of the Board of Directors of ADAMA Ltd. (hereinafter
referred to as “the Company”) held on August 19, 2020 approved the Repurchase Plan for
Part of the Company’s Domestically Listed Foreign Shares (B share). This repurchase plan
has been further deliberated at the 3rd Interim Shareholders Meeting in 2020 of the
Company and approved by more than 2/3 of the voting rights represented by the attending
shareholders.
In order to protect the Company’s value and shareholders’interests, the Company decided to
use its own funds to repurchase (and cancel) a portion of its B-Shares through centralized
price bidding transactions and/or any other method/s permitted by the applicable laws and
regulations. The Company will spend no more than RMB 132,562 thousand (including
exchanging and transaction fees) to repurchase B-shares at the price of no more than 5.70
HKD/share. The upper limit of the number of shares to be repurchased is 26,000,000 shares,
and the lower limit is 13,000,000 shares. The actual amount will be based on the actual
number of shares repurchased by the end of the repurchase period. The repurchasing period
will not exceed three months following the date of the Company’s shareholders’ approval of
the repurchase plan.
For details of the repurchase plan, please refer to the Announcement of Resolutions of the
26th Meeting of the 8th Session of the Board of Directors (Announcement No.2020-40) , the
Repurchase Plan for Part of the Company’s Domestically Listed Foreign Shares (B share)
(Announcement No.2020-44) published on the website www.cninfo.com.cn on August 21,
2020 and the Announcement on the Resolutions of the 3rd Interim Shareholders Meeting in
2020 (Announcement No.2020-50) as well as the Repurchase Report for Part of the
Company’s Domestically Listed Foreign Shares (B share) (Announcement No.2020-51)
published on the website www.cninfo.com.cn on September 8, 2020.
According to the Implementation Rules of the Shenzhen Stock Exchange on Share
Repurchases of Listed Companies, the Company shall disclose an announcement on the day
following the first actual occurrence date of the share repurchase. The first repurchase of
B-Shares implemented by the Company is hereby disclosed as follows:
I. Basic situation
On September 16th, 2020, the Company repurchased 656,633 shares of B-Shares by means
of a centralized price bidding transaction through a special securities repurchase account for
B-Shares, which accounts for 0.03% of the Company’s total share capital. The highest
transaction price is 5.10 HKD/share, the lowest transaction price is 4.98 HKD/share, and the
total payment amount is HKD 3,313,346 (excluding transaction fees). The repurchase is in
line with the requirements of relevant laws and regulations and in line with the Company’s
established repurchase plan.
II. Other notes
1. The repurchase of part of the Company’s B-Shares is to maintain the Company’s value
and shareholders’ rights and interests. The repurchased shares will be cancelled, and the
registered capital will be reduced accordingly after being approved by the shareholders. The
relevant provisions of Articles 17 and 18 of the Implementation Rules of the Shenzhen Stock
Exchange on Share Repurchases of Listed Companies do not apply to the aforesaid
repurchase of shares.
2. The purchasing period of the Company’s first share repurchases complies with the
relevant provisions of Article 19 of the Implementation Rules of the Shenzhen Stock
Exchange on Share Repurchases of Listed Companies.
The Company did not repurchase the shares during the following trading hours:
(1) Open call auction;
(2) Within half an hour before closing;
(3) on the trading day without increase or decrease limit for stock price.
The price of the Company’s share repurchase is lower than the increase limit for trading of
the Company’s stock on the day.
The Company will continue to implement the repurchase plan based on market conditions.
During the repurchase period of the repurchase plan, the Company will strictly perform its
information disclosure obligations in accordance with relevant laws, regulations and
regulatory documents.
The Announcement is hereby made.
The Board of Directors of ADAMA Ltd.
September 17, 2020
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