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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