MB5-705    | CCD-410    | 400-101    | M70-101    | 98-365    | C2020-702    | MB6-702    | M70-201    | 300-208    | HP0-J73    | C2180-410    | 70-532    | E20-026    | 220-802    | M70-301    | 1z0-432    | CAS-002    | 70-414    | N10-005    | 3309    | HP0-D30    | 98-349    | 1Z0-052    | 640-864    | HP2-Z36    | MB6-871    | MB7-701    | 400-051    | 6209    | C_TFIN52_66    | 70-346    | A00-211    | M70-201    | C2070-991    | CISSP    | 220-802    | 220-801    | CCD-410    | E10-001    | HP0-S41    | AWS-SysOps    | E20-026    | C4040-251    | NS0-157    | HP5-B04D    | A00-211    | 9L0-422    | 700-201    | 70-533    | JN0-102    | 3308    | DEV-501    | 70-243    | 70-680    | C_TAW12_731    | M70-101    | LX0-103    | 98-367    | 70-488    | 300-115    | 300-075    | 70-410    | 1Z0-060    | CTFL_001    | MB5-705    | JN0-102    | 350-018    | 70-488    | 1Z0-060    | C4040-252    | MB2-703    | 70-332    | C4040-250    | 642-874    | 220-801    | 70-486    | VCP550    | 300-115    | C4040-251    | 640-461    | MB6-871    | 100-101    | top MB7-701 test for sale discount 70-466 dumps for sale pass 70-480 exam for sale sale 70-414 pdf top MB2-701 pdfs No.1 EX0-001 dumps sale cheap 300-208 test sale ICGB exam download discount 640-461 exams buy 70-463 dumps leader 100-101 download pass 700-501 dumps for sale cheap EX300 certs best 98-349 sale MB7-701    | 70-413    | 70-467    | A00-211    | 70-332    | 70-412    | VCP-550    | 810-401    | AWS-SysOps    | 70-346    | 1Z0-053    | 70-414    | 810-401    | PRINCE2 Practitioner    | 700-501    | CCA-500    | N10-005    | 70-243    | E10-001    | VCP-550    | 1Z0-062    |
COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

Home | 中文 | Sitemap | Printer Friendly | Intranet

Company News

Home > Media Centre > Company News

CIMC Shareholders' Approval for the Share Reform Proposal

Date:2006-05-04     Publish:本站

CIMC Shareholders' Approval for the Share Reform Proposal
 

COSCO Pacific Limited ("the Company", together with its subsidiaries, the "Group") is pleased to announce that the China International Marine Containers (Group) Co., Ltd. ("CIMC") Share Reform Proposal has been approved by CIMC A-Share shareholders in the shareholders meeting held on 28 April 2006. More than two-third of (i) the votes of shareholders of CIMC Tradable A-Shares and CIMC Non-tradable Shares and (ii) the votes of CIMC Tradable A-Share Shareholders were cast in favour of the above proposal. As a result, and after completion of all the necessary formalities for the purpose of enabling the trading on the Shenzhen Stock Exchange of the CIMC Tradable A-Shares to be converted from the CIMC Non-tradable Shares, the CIMC Non-tradable Shares held by the Group (representing an approximately 16.23% equity interest in CIMC) will be fully converted into CIMC Tradable A-Shares trading on the Shenzhen Stock Exchange. The voting results are as follows:

Share Reform Proposal
 
Number of Votes (%)
Shareholders
 
For
 
Against
 
Abstain
To obtain the consent of the CIMC Tradable A-Share
Shareholders to the conversion of the CIMC Non-tradable Shares
held by the Company into CIMC Tradable A-Shares which are publicly tradable on the Shenzhen Stock Exchange
Shareholders of Tradable A-Shares and Non-tradable Shares 493,526,647
(89.27%)
59,086,475
(10.69%)
224,168
(0.04%)
Tradable A-Share Shareholders   166,123,735
(73.69%)
  59,086,475
(26.21%)
  224,168
(0.10%)

Under the CIMC Share Reform Proposal, the Company will grant Put Options to the CIMC Tradable A-Share Shareholders so that the CIMC Tradable A-Share Shareholders will have the right to sell certain portion of their CIMC Tradable A-Shares to the Company. The relevant principal terms are as follows:

1. Put Options for the sale of 1 CIMC Tradable A-Share each will be granted in the proportion of 7 Put Options for every 10 CIMC Tradable A-Shares.
2. The exercise price is RMB10 (in cash).
3. Bermuda (i.e. European) style options which expire on the last day of the 18-month period commencing on the date of listing of the Put Options on the Shenzhen Stock Exchange.
4. The exercise period is the period of five trading days immediately before and including the expiry date.

Please refer to the Company's announcements dated 4 April 2006 and 11 April 2006 regarding the principal terms of the CIMC Share Reform Proposal. The announcements were uploaded on the Company's website: www.coscopac.com.hk.

Subject to obtaining the necessary formalities for the purpose of enabling the trading on the Shenzhen Stock Exchange of CIMC Tradable A-Shares arising on conversion of the CIMC Non-tradable Shares, the CIMC Share Reform Proposal will be implemented.