Guangdong South New Media Co.,Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on February 25, 2021.
March 19, 2021 at 08:03 am EDT
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Guangdong South New Media Co.,Ltd. (SZSE:300770) commences a share repurchases on March 19, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 25, 2021. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at a price not more than CNY 94 per share. The repurchased shares will be used to convert corporate bonds issued by the company that can be converted into stocks. The company intends to use its own funds to repurchase the company’s shares. The repurchase program will be valid for a period of 6 months from the date of approval.
On June 1, 2021, the company announced that the purchase price has been adjusted to CNY 93.20 per share.
Guangdong South New Media Co., Ltd. is a China-based company principally involved in new media business. The Company is mainly engaged in Internet Protocol Television (IPTV) and Internet TV businesses, as well as the provision of cable TV network value-added services and province outside private network audio-visual program integrated services. The Company is also engaged in the provision of program event technical services, subway TV technology services and mobile channel technology services. The Company mainly conducts its businesses in domestic market.
Guangdong South New Media Co.,Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on February 25, 2021.
GUANGDONG SOUTH NEW MEDIA CO.,LTD. 
