Porton: Plans to cancel 2.0223 million shares

Porton announced that the company plans to cancel all 2.0223 million shares repurchased in 2022, accounting for 0.37% of the company's total share capital. This plan has been approved by the board of directors and the supervisory board and is pending submission for shareholder approval. The shares repurchased by the company were intended for implementing equity incentives or employee stock ownership plans, but due to the expiration of the retention period, the purpose has been changed to cancellation and reduction of registered capital. This move will not have a substantial impact on the company's financial condition and operating results