Special Verification Opinion on the Related Announcements of Longyuan Power Group Co., Ltd. Merging with Pingzhuang Energy Co., Ltd. and Major Asset Sales and Cash Purchases of Assets
Shenzhen Stock Exchange: Longyuan Power Group Co., Ltd. has received approval from the China Securities Regulatory Commission on December 8, 2021, for the merger with Pingzhuang Energy Co., Ltd. and the associated major asset sales and cash purchases. Following this approval, Pingzhuang Energy plans to announce related notifications regarding the continuous suspension of its stock until delisting, the implementation of the merger, and the cash option for dissenting shareholders.
I. Approvals and Authorizations Obtained for This Transaction
- Internal Review Procedures of the Merging Parties
- On July 23, 2021, Longyuan Power held its third extraordinary general meeting of shareholders in 2021, approving the board's proposal regarding the issuance of A-shares for the merger with Pingzhuang Energy and the related asset sales and cash purchases.
- On July 23, 2021, Pingzhuang Energy held its first extraordinary general meeting of shareholders in 2021, approving the board's proposal that the merger and related transactions comply with relevant laws and regulations.