Resell Repurchase Plan Antarctic E-Commerce Plans To Buy Back 300-500 Million Yuan Of Company Shares

On January 27, Antarctica e-commerce Co., Ltd. (hereinafter referred to as Antarctic e-commerce) issued a plan on repurchase of the company's shares, which planned to buy back 300 million to 500 million yuan of the company's shares.

According to the announcement, Antarctic e-commerce intends to use its own funds to buy back part of the company's shares through centralized bidding for the subsequent implementation of equity incentive or employee stock ownership plans. The total amount of repurchase shall not be less than 300 million yuan and not more than 500 million yuan, and the repurchase price shall not exceed 15 yuan / share. The specific number of shares to be repurchased shall be subject to the actual number of shares repurchased at the expiration of the repurchase period. The implementation period of share repurchase shall be no more than 6 months from the date when the board of directors deliberates and approves the share repurchase scheme.

At the same time, Antarctic e-commerce pointed out that the price of the shares to be repurchased is no more than RMB 15 per share, and the upper limit of the repurchase shares is not higher than 150% of the average trading price of the company's shares 30 trading days before the board of directors passed the repurchase resolution. The actual repurchase price shall be determined by the company's management authorized by the board of directors in combination with the company's stock price, financial status and operating conditions during the implementation of the buyback.

For the purpose of share repurchase, at present, the company's sales on major e-commerce platforms are in good condition, and the company's financial situation is stable and healthy. The work will be carried out actively in 2021,

In order to better safeguard the interests of small and medium-sized shareholders, fight back the false rumors in the market, and further establish and improve the company's long-term incentive mechanism to attract and retain outstanding talents, according to relevant regulations, the company plans to use its own funds to buy back part of the company's shares by means of centralized bidding for the subsequent implementation of equity incentive or employee stock ownership plan.