Announcement on the Cash Option Distribution for the Share Swap Absorption Merger of AVIC Avionics Systems Co., Ltd.
The company and all members of the board guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Special Reminder:
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The share swap absorption merger of AVIC Avionics Systems Co., Ltd. (hereinafter referred to as "AVIC Avionics") with AVIC Electromechanical Systems Co., Ltd. (hereinafter referred to as "the Company" or "AVIC Electromechanical") and the fundraising related to this transaction (hereinafter referred to as "this transaction") was approved at the third extraordinary general meeting of shareholders held on October 26, 2022, and has received approval from the China Securities Regulatory Commission (CSRC) for the issuance of shares to absorb the merger and raise supporting funds (CSRC Permit [2022] No. 3241).
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To fully protect the interests of the Company's shareholders, this share swap absorption merger will provide cash options to eligible dissenting shareholders of AVIC Electromechanical. China Aviation Technology Industry Co., Ltd. (hereinafter referred to as "AVIC Technology") will act as the provider of the cash options. Dissenting shareholders of AVIC Electromechanical who are entitled to exercise the cash option may declare their intention to exercise the cash option for all or part of their shares during the cash option declaration period as specified in this announcement. If a dissenting shareholder fails to declare or effectively declare their intention to exercise the cash option during the declaration period, their shares will be forcibly converted into A shares issued by AVIC Avionics.
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The Company's stock (stock abbreviation: AVIC Electromechanical, stock code: 002013) will be continuously suspended from trading starting from the opening of the market on February 8, 2023. It will then 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 the termination of its listing. The shares held by shareholders will be converted into A shares of AVIC Avionics listed and traded on the Shanghai Stock Exchange after the share swap is implemented. February 7, 2023, will be the last trading day for the Company's stock, and investors are advised to pay attention.