000866SZSE

Offer Acquisition Report

Yangzi Exit Co., Ltd.··34 pages

✨ AI Summary

This announcement details China Petroleum & Chemical Corporation's offer to acquire all circulating shares of Yangzi Petrochemical Co., Ltd. The acquisition aims to delist Yangzi Petrochemical from the Shenzhen Stock Exchange, with a proposed price of 13.95 RMB per share. The offer period is from March 8, 2006, to April 6, 2006, and is contingent upon receiving valid acceptances for over 117 million shares, representing more than 90% of the total share capital. Failure to meet this condition will void the offer.

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Full Translation

AI Translation· azure_openai

Special Risk Warning

The effectiveness of this offer acquisition is contingent upon: by 15:00 on the last trading day of the offer period, the number of Yangzi Petrochemical shares declared for acceptance and temporarily held by the registration company exceeds 117 million shares. If the total number of shares held by the acquirer and the declared shares exceeds 90% of Yangzi Petrochemical's total share capital, the equity distribution of Yangzi Petrochemical will not meet the listing conditions. If the above conditions are not met by the end of the offer period, the acquisition will not take effect, and the registration company will automatically release the temporary custody of the corresponding shares. All accepted shares will not be accepted by the acquirer, and investors will bear the risk of price fluctuations in Yangzi Petrochemical's stock due to the unmet conditions, potentially leading to significant investment losses.

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