Torch announces initial results of stock repurchase transaction

Beijing time September 20 Morning news, Ju Li (nasdaq:acts) today announced the "Dutch auction" to buy up to 60 million shares have been issued in the circulation of ordinary common shares, including the United States depository shares represented by the initial results of the transaction.

According to the plan announced earlier, the Torch force is no more than 7/15 U.S. dollars per share (US depository shares per share is no higher than 2.80 U.S. dollars), at the same time not less than 5/12 U.S. dollars (per share of U.S. depository shares not less than 2.50 U.S. dollars) Price repurchase shares, the repurchase plan has been in the United States September 18 17 o'clock (East time Beijing time September 19 5 o'clock) expires.

Based on preliminary calculations by Laurel Hill Advisory Group Company, a total of 192962779 shares (common shares of US depository stock representatives) were correctly tendered and not withdrawn, including 1986606 shares under the secured delivery procedure ( Shares of common stock represented by American depository shares, and 3100764 shares (common stock represented by US depository shares) that are conditionally tendered by the holder of the securities.

According to the terms of the transaction and the preliminary calculation results, torch Force is expected to buy back 60 million shares (including the United States depository shares represented by common stock), the repurchase price of 5/12 U.S. dollars per share (U.S. depository shares for 2.50 U.S. dollars), the total cost of about 25 million U.S. dollars, which are not included in the relevant service charges and expenses. The 60 million shares in the Torch force in the current distribution of the total amount of stock in the share of about 14.5%. Based on the preliminary results, the Torch force is expected to have about 354975246 shares (common shares of US depository shares) issued in the circulating stock after the completion of the transaction settlement. (Tangfeng)