Important Notice:
-
The company's stock (stock code: 000780) will be suspended from trading starting December 17, 2021. Following this, Pingzhuang Energy's stock will enter the cash option distribution, exercise declaration, and settlement phase, and will no longer be traded. After the completion of the cash option implementation, the company will apply to the Shenzhen Stock Exchange for delisting. The shares held by the company's shareholders will be converted into shares issued by Longyuan Power and listed on the Shenzhen Stock Exchange.
-
On December 21, 2021, the company will distribute cash options to shareholders registered as of the close of trading on the cash option registration date, totaling 150,200 cash options.
-
Shareholders who receive cash options can declare to exercise their options from 9:30 AM to 11:30 AM and 1:00 PM to 3:00 PM on trading days from December 23 to December 29, 2021, at a price of 3.50 CNY per share, transferring their shares to the cash option provider, China Energy Group. Shareholders holding the following shares are not entitled to exercise cash options: (1) Shares with rights restrictions, such as those pledged, subject to third-party rights, or judicially frozen. (2) Shares for which the legal holder has committed in writing to waive the cash option rights. (3) Other shares that cannot exercise cash options under applicable laws. The shares that cannot claim cash options will be converted into shares issued by Longyuan Power on the share swap implementation date.
-
According to Article 9 of the "Guidelines for Cash Options of Listed Companies on the Shenzhen Stock Exchange (Revised in 2011)," the reference stock price for the cash option is the closing price on the sixth trading day before the cash option declaration, which is December 9, 2021. As of December 9, the closing price of Pingzhuang Energy's stock was 10.67 CNY per share, and the cash option price is 3.50 CNY per share, representing a premium of 204.86% over the cash option price, exceeding 50%. Therefore, the company will implement the cash option using a manual declaration method. The declaration and settlement of cash options will be completed manually. Detailed procedures for manual exercise are described in the section "III. Method of Declaring Cash Option Exercise."
-
As of December 16, 2021 (the last trading day for the company's stock), the closing price of Pingzhuang Energy's stock was 10.95 CNY per share, and the cash option price was 3.50 CNY per share. Shareholders declaring to exercise cash options will receive cash compensation at the exercise price of 3.50 CNY per share, representing a premium of 212.86% over the cash option exercise price. If investors exercise cash options, it may lead to losses; investors are advised to pay attention to risks.
-
After the completion of the cash option distribution, Pingzhuang Energy will enter the delisting process, and its stock will be converted into Longyuan Power's A-shares according to the share swap ratio. According to the relevant regulations issued by the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission regarding the implementation of differentiated personal income tax policies for dividends, individuals obtaining shares from public offerings and transfers will be taxed based on their holding period.