SHOUGANG LANZA (02553.HK) proposes general mandate to repurchase up to 5% of issued H shares

NewTimeSpace News: On November 9, 2026, Beijing Shougang LanzaTech Technology Co., Ltd. (02553.HK) issued a voluntary announcement stating that its board met on November 9, 2026 and resolved to propose at an extraordinary general meeting that shareholders grant the board a general mandate to repurchase part of the company's H shares in accordance with domestic and overseas laws and regulations, the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Codes on Takeovers and Mergers and Share Buy-backs (the "Takeovers Code").

The repurchase will be funded by the company's own resources. Under the H-share repurchase mandate, the total number of H shares that may be repurchased shall not exceed 5% of the total number of issued H shares (excluding treasury shares) as at the date the relevant resolution is passed at the extraordinary general meeting. The mandate takes effect from the date of approval by shareholders and expires at the earlier of the conclusion of the company's next general meeting or the date on which shareholders pass a resolution to revoke or vary the mandate.

The directors currently have no intention to exercise the mandate to an extent that would require a mandatory offer under the Takeovers Code, or such that the public float would fall below the percentage required by the Listing Rules or any other minimum percentage agreed with the Stock Exchange from time to time. The board considers that the company's current financial resources enable it to implement the H-share repurchase while maintaining a sound financial position, and that the repurchase will not have a material adverse impact on its working capital requirements or gearing level. The proposed grant of the mandate is conditional upon approval by shareholders by special resolution at the extraordinary general meeting, and the company will not carry out any H-share repurchase before obtaining the mandate. A circular containing details of the proposed mandate and the notice of the extraordinary general meeting will be despatched to shareholders in due course in accordance with the Listing Rules.