REG - China Yangtze Power - Resumption of Trading in A Shares

China Yangtze Power CoAnnouncement

10/12/2021 12:50

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RNS Number : 3128V  China Yangtze Power Co. Ltd.  10 December 2021

China Yangtze Power Co., Ltd.

Announcement on General Risk Warning in Relation to Material Asset
Restructuring and Resumption of Trading in the Shares of the Company on the
Shanghai Stock Exchange

The board of directors and all directors of China Yangtze Power Co., Ltd. (the
"Company") warrant that there are no false representations and misleading
statements contained in, or material omissions from, this announcement, and
severally and jointly accept the responsibility for the truthfulness, accuracy
and completeness of the contents of this announcement.

 

It is hereby announced as follows:

 

In light of the planning for a material asset restructuring (the
"Transaction"), China Yangtze Power Co., Ltd. (the"Company"), upon application
to the Shanghai Stock Exchange (the "SSE"), suspended trading of its shares on
the SSE (abbreviation: CYPC, stock code: 600900) since the opening on 29
November 2021 in accordance with the relevant requirements of the SSE, details
of which can be found in the Announcement on Suspension of Trading in Relation
to Planning for Material Asset Restructuring of China Yangtze Power Co., Ltd.
published by the Company dated 29 November 2021. During the suspension, the
Company, in accordance with the relevant requirements, promptly fulfilled the
obligation of information disclosure by publishing the Announcement on
Progress of Suspension of Trading in the Shares of the Company on the Shanghai
Stock Exchange in Relation to Planning for Material Asset Restructuring of
China Yangtze Power Co., Ltd. dated 3 December 2021.

 

On 10 December 2021, resolutions related to this Transaction such as
Resolution on Plan of China Yangtze Power Co., Ltd. for Issuance of Shares,
Issuance of Convertible Corporate Bonds and Payment of Cash to Purchase Assets
and Raise Counterpart Funds and for Related Party Transaction and its Summary
were considered and approved at the 30th meeting of the fifth session of the
Board of Directors of the Company. In accordance with the relevant
requirements of the Rules Governing the Listing of Stocks on Shanghai Stock
Exchange and the Guidelines of Shanghai Stock Exchange for Trading Suspension
and Resumption by Listed Companies Planning Material Events, and upon
application by the Company to Shanghai Stock Exchange, trading of shares of
the Company will be resumed from the opening in the morning on 13 December
2021. Accordingly, the depositary of the Company's Global Depository Receipts
(the "GDRs"), which are admitted to listing on the Official List of the UK
Financial Conduct Authority and to trading on the main market of the London
Stock Exchange, will be required to resume the redemption or creation of the
GDRs.

 

Since the audit and assessment related to this Transaction has yet to be
completed as of the date of this announcement, the Board of Directors of the
Company decides not to convene a general meeting to consider this Transaction.
A meeting of the Board of Directors will, upon completion of such audit and
assessment, be convened to consider issues regarding this Transaction, and the
Board of Directors will propose a general meeting to consider resolutions
related to this Transaction.

 

The plan for this Transaction can only be formally implemented after it is
approved by the competent regulatory authority. There is uncertainty about
whether this Transaction can be so approved and the date on which this
Transaction is finally approved. The Company will continue advancing the
relevant work after the trading is resumed, and will fulfill the obligation of
information disclosure in a timely manner in strict accordance with the
requirements of the relevant laws and regulations. China Securities, Shanghai
Securities News, Securities Times, China Three Gorges Engineering and the
website of Shanghai Stock Exchange (www.sse.com.cn) are the designated
information disclosure media for the Company in China, and all information of
the Company is subject to the announcements to be published by the Company on
the above media. Announcements that are material for GDR holders are published
on the Regulatory News Service in the United Kingdom. Investors are advised to
make rational investments and beware of investment risks.

 

Board of Directors of China Yangtze Power Co., Ltd.

10 December 2021

 

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