Joy Spreader Group Buys Back HK$120 Million Worth of Shares for Inclusion in its Share Incentive Plan

BEIJING,Oct. 3,2021 /PR Newswire/ -- Joy Spreader Group (HKG: 6988,"the Group") announced on September 30,2021 that the trustee of the Group's Share Incentive Plan had purchased 42.35 million of its shares from the market for a total consideration of some HK$120 million (approx. US$15.6 million) at an average price of HK$2.85 (approx. US$0.37) per share in accordance with the rules of the Plan and will hold the shares in the interest of the participants of the Plan.

The Share Incentive Plan announced in June aims to recognize the contributions of some of the Group's directors,employees,consultants and advisors in a move to retain them to assist with the company's future growth and expansion.

The implementation of the Plan fully demonstrates the Group's strong confidence in its business prospects. Going forward,the firm plans to continue implementing its share repurchase program based on market conditions.

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