Notice on the Implementation of Cash Option for Share Exchange Absorption Merger by Longyuan Power Group Co., Ltd.
Longyuan Power Group Co., Ltd. has received approval from the China Securities Regulatory Commission (CSRC) for the share exchange absorption merger with Inner Mongolia Pingzhuang Energy Co., Ltd. and significant asset sales, as well as cash purchases of assets and related transactions, under approval number [2021]3813 on December 8, 2021. Unless otherwise defined in this announcement, the terms or abbreviations used herein have the same meanings as defined in the report on the share exchange absorption merger.
Important Notice:
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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. Shareholders' shares will be converted into shares issued by Longyuan Power and listed on the Shenzhen Stock Exchange after the share exchange.
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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.
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Shareholders who receive cash options can declare to exercise their options from December 23 to December 29, 2021, during trading hours (9:30-11:30 AM and 1:00-3:00 PM) at a price of 3.50 CNY per share, transferring their shares to the cash option provider, China Energy Group. Shareholders with the following shares registered as dissenting shareholders of Pingzhuang Energy are not entitled to exercise cash options on their shares:
- (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 according to the exchange ratio on the implementation date.