JOINN Laboratories Cancels Incentive Scheme Shares

JOINN Laboratories (China) Co., Ltd. Class H (HK:6127) has released an update.

JOINN Laboratories has announced the termination of its 2021 Incentive Scheme due to challenging macro-economic conditions, opting to repurchase and cancel 411,365 restricted A shares to better align with company and shareholder interests. The repurchased shares, which were part of an incentive plan that no longer serves its intended purpose, will be bought back at RMB42.37 each and are expected to be cancelled by July 11, 2024.

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