证监会、财政部、国资委联合发布《关于支持上市公司回购股份的意见》
发布(bu)：时间：2018-11-14返回列表
为进一步提高上(shang)市(shi)(shi)公(gong)司(si)质量，健全(quan)资本(ben)市(shi)(shi)场内(nei)生稳定机制，促进资本(ben)市(shi)(shi)场长期健康(kang)发展，根据《全(quan)国(guo)人民代表大(da)会(hui)常务委(wei)(wei)员会(hui)关于修改<中(zhong)华(hua)人民共和(he)国(guo)公(gong)司(si)法>的(de)决(jue)定》的(de)规定,证监会(hui)、财政部、国(guo)资委(wei)(wei)联合发布《关于支持(chi)上(shang)市(shi)(shi)公(gong)司(si)回购(gou)股份的(de)意见》（以下简称《意见》），自公(gong)布之日起施行。《意见》拓宽回购(gou)资金来源、适当简化(hua)实施程序(xu)、引导完善治理安排，鼓励(li)各类上(shang)市(shi)(shi)公(gong)司(si)实施股权激励(li)或(huo)员工(gong)持(chi)股计划，强(qiang)化(hua)激励(li)约束(shu)，促进公(gong)司(si)夯实估值基(ji)础，提升(sheng)公(gong)司(si)管(guan)理风险(xian)能(neng)力，提高上(shang)市(shi)(shi)公(gong)司(si)质量。
《意见》主要内(nei)(nei)容包括：一是(shi)依法支持(chi)各类上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)回(hui)(hui)购(gou)(gou)(gou)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)用(yong)于实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)权(quan)激励(li)及员(yuan)工(gong)持(chi)股(gu)(gu)(gu)(gu)(gu)(gu)计(ji)(ji)划(hua)(hua)(hua)(hua)。上(shang)(shang)市(shi)(shi)金融(rong)企业(ye)可(ke)以(yi)(yi)在(zai)合理确定(ding)回(hui)(hui)购(gou)(gou)(gou)实(shi)(shi)(shi)施(shi)价(jia)(jia)格(ge)、切实(shi)(shi)(shi)防范利益输送的(de)(de)基础上(shang)(shang)，依法回(hui)(hui)购(gou)(gou)(gou)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)用(yong)于实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)权(quan)激励(li)或(huo)者(zhe)员(yuan)工(gong)持(chi)股(gu)(gu)(gu)(gu)(gu)(gu)计(ji)(ji)划(hua)(hua)(hua)(hua),并按有关规定(ding)做好管理。其(qi)(qi)中，上(shang)(shang)市(shi)(shi)证(zheng)(zheng)券公(gong)(gong)司(si)(si)(si)可(ke)以(yi)(yi)通过资(zi)(zi)管计(ji)(ji)划(hua)(hua)(hua)(hua)、信(xin)托计(ji)(ji)划(hua)(hua)(hua)(hua)等(deng)形式(shi)实(shi)(shi)(shi)施(shi)员(yuan)工(gong)持(chi)股(gu)(gu)(gu)(gu)(gu)(gu)计(ji)(ji)划(hua)(hua)(hua)(hua)。二是(shi)鼓励(li)运用(yong)其(qi)(qi)他市(shi)(shi)场工(gong)具为(wei)(wei)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)提(ti)供融(rong)资(zi)(zi)等(deng)支持(chi)。继(ji)续支持(chi)上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)通过发(fa)行(xing)(xing)(xing)优先(xian)股(gu)(gu)(gu)(gu)(gu)(gu)、可(ke)转债等(deng)多(duo)种方式(shi)，为(wei)(wei)回(hui)(hui)购(gou)(gou)(gou)本(ben)公(gong)(gong)司(si)(si)(si)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)筹集(ji)资(zi)(zi)金。支持(chi)实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)的(de)(de)上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)依法以(yi)(yi)简便快捷方式(shi)进行(xing)(xing)(xing)再(zai)融(rong)资(zi)(zi)。上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)后(hou)申(shen)请再(zai)融(rong)资(zi)(zi)的(de)(de)，在(zai)一定(ding)规模内(nei)(nei)取消(xiao)再(zai)融(rong)资(zi)(zi)间隔期(qi)限制，审(shen)核中给予优先(xian)支持(chi)。上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)以(yi)(yi)现金为(wei)(wei)对价(jia)(jia)，采用(yong)要约或(huo)集(ji)中竞(jing)价(jia)(jia)方式(shi)回(hui)(hui)购(gou)(gou)(gou)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)的(de)(de)，视同上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)现金分(fen)红(hong)，纳入现金分(fen)红(hong)的(de)(de)相关比例(li)计(ji)(ji)算。三是(shi)简化(hua)实(shi)(shi)(shi)施(shi)回(hui)(hui)购(gou)(gou)(gou)的(de)(de)程序。上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)股(gu)(gu)(gu)(gu)(gu)(gu)价(jia)(jia)低于其(qi)(qi)每股(gu)(gu)(gu)(gu)(gu)(gu)净(jing)资(zi)(zi)产，或(huo)者(zhe)20个(ge)交易日内(nei)(nei)股(gu)(gu)(gu)(gu)(gu)(gu)价(jia)(jia)跌幅累计(ji)(ji)达到30%的(de)(de)，可(ke)以(yi)(yi)为(wei)(wei)维护(hu)公(gong)(gong)司(si)(si)(si)价(jia)(jia)值及股(gu)(gu)(gu)(gu)(gu)(gu)东(dong)权(quan)益进行(xing)(xing)(xing)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)；上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)因该情形实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)并减少(shao)注(zhu)册资(zi)(zi)本(ben)的(de)(de)，不适(shi)用(yong)股(gu)(gu)(gu)(gu)(gu)(gu)票上(shang)(shang)市(shi)(shi)已满(man)一年(nian)和现行(xing)(xing)(xing)回(hui)(hui)购(gou)(gou)(gou)窗口期(qi)（定(ding)期(qi)报告或(huo)业(ye)绩快报公(gong)(gong)告前10日内(nei)(nei)、重大事(shi)项论证(zheng)(zheng)期(qi)间）限制。股(gu)(gu)(gu)(gu)(gu)(gu)东(dong)大会授权(quan)董事(shi)会实(shi)(shi)(shi)施(shi)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)的(de)(de)，可(ke)以(yi)(yi)一并授权(quan)实(shi)(shi)(shi)施(shi)再(zai)融(rong)资(zi)(zi)。四是(shi)引(yin)导(dao)完(wan)善(shan)公(gong)(gong)司(si)(si)(si)治(zhi)理安排。鼓励(li)上(shang)(shang)市(shi)(shi)公(gong)(gong)司(si)(si)(si)在(zai)章(zhang)程中完(wan)善(shan)股(gu)(gu)(gu)(gu)(gu)(gu)份(fen)回(hui)(hui)购(gou)(gou)(gou)机制，引(yin)导(dao)董事(shi)会主动与股(gu)(gu)(gu)(gu)(gu)(gu)东(dong)沟通交流，充分(fen)发(fa)挥(hui)公(gong)(gong)司(si)(si)(si)治(zhi)理积极作用(yong)。
上市(shi)(shi)公司实施股(gu)份回购，要根据《公司法(fa)》和(he)《意见》的相关要求，抓紧研究完(wan)善(shan)回购股(gu)份相关的公司治(zhi)理机制，及时完(wan)善(shan)公司章程，健全内(nei)部治(zhi)理安排，切(qie)实履行信息披露义(yi)务和(he)相关决(jue)策程序(xu)。任何人不得利(li)用(yong)上市(shi)(shi)公司回购股(gu)份从事(shi)内(nei)幕交(jiao)易、操纵(zong)市(shi)(shi)场和(he)进(jin)行证券欺诈(zha)等违法(fa)违规活动。
下一步，证(zheng)监(jian)会(hui)将会(hui)同相(xiang)关部(bu)门继(ji)续按(an)照党中(zhong)央、国务院的(de)决(jue)策部(bu)署，进一步完善股(gu)份回购(gou)配套制度，稳妥推进相(xiang)关工(gong)作。同时，加大监(jian)管执法(fa)力度，依法(fa)严厉查(cha)处违法(fa)违规行(xing)为(wei)，促(cu)进资(zi)本市(shi)场长期健(jian)康发展(zhan)。