Stock Code: 000553(200553) Stock Abbreviation: ADAMA A (B) NO. 2020-71
ADAMA Ltd.
Announcement on the Expiry of the Repurchase Period
and the Results of the B-Shares Repurchase
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 Meeti ng 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 Interi m 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 Companydecided 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 (includi ng
exchanging and transaction fees) to repurchase B-shares at the price of no more than 5.70
HKD/share. The upper limi t 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.cnonSeptember 8, 2020.
As of December 6, 2020, the repurchase period has expired. According to the
Implementation Rules of the Shenzhen Stock Exchange on Share Repurchases of Listed
Companies, the results of the Company’s share repurchase are now announced as follows:
I. Implementationof share repurchase
From September 16, 2020 to December 6, 2020, the Company repurchased 14,309,536
shares of B-Shares by means of a centralized price bidding transaction through a special
securities repurchase account for B-Shares, which accounts for 0.61% of the Company’s
total share capital. The highest transaction price is 5.22 HKD/share, the lowest transaction
price is 4.27 HKD/share, and the total payment amount is HKD 69,747,209 (includi ng
transaction fees).
II. No difference betweenthe implementationof repurchase andthe repurchase plan
The actual amount of shares repurchased by the Company, the repurchase price, the total
funds used for the repurchase, method of repurchasing as well as the repurchase period are
in line with Repurchase Plan for Part of the Company’s Domestically Listed Foreign Shares
(B share), and there is no difference between the actual i mple me nta tion and the announced
repurchase plan.
III. Impact of the implementationof share repurchase onthe Company
The Company’s operations are in good conditionand the fi na ncial status is sound. The share
repurchase will not have a negative impact on the Company’s finance, operations, research
and development, debt payment ability and future development. After the i mple me ntatio nof
the share repurchase plan, the Company’s controlling shareholder remains the same; the
Company is still a listed company and its equi ty distribution still meets the listing
conditions.
IV. Purchase and sale of the Company’s stock by relevant entities during the
repurchase period
From the date when the Company first disclosed the repurchase plan (August 21, 2020) to
the day before the disclosure of this announcement, the Company’s directors, supervisors,
senior executives, the controlling shareholder, the actual controller and its person acting in
concert did not buy or sell the Company’s shares during the aforementioned period, which is
in line with the repurchase plan.
V. Arrangement of repurchasedshares
The above-mentioned 14,309,536 B-Shares repurchased bythe Companyare all deposited in
the Company’s special securities repurchase account. Duringthe deposit period, they are not
entitled to vote at the shareholders meeti ng, profit distribution, rights offering, and pledge.
Within three years after the disclosure of this announcement, the B-Shares that have been
repurchased
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