- Securities Code: 002013 Securities Abbreviation: AVIC Electromechanical Announcement No.: 2023-028
AVIC Electromechanical Systems Co., Ltd. announces the cash option exercise and implementation of the share exchange absorption merger with AVIC Aviation Electronics System Co., Ltd. The company and all members of the board guarantee the truthfulness, accuracy, and completeness of the announcement content, with no false records, misleading statements, or significant omissions.
Special Reminder
-
AVIC Electromechanical Systems Co., Ltd. (hereinafter referred to as "the Company" or "AVIC Electromechanical") stock (abbreviation: AVIC Electromechanical, code: 002013) has been continuously suspended from trading since the market opened on February 8, 2023. It will enter the cash option distribution, exercise declaration, and settlement phase, and will not resume trading until the share exchange is implemented and converted into A-shares of AVIC Aviation Electronics System Co., Ltd. (hereinafter referred to as "AVIC Electronics") listed on the Shanghai Stock Exchange. Investors are advised to take note.
-
On February 13, 2023, the Company distributed cash options to shareholders eligible to exercise cash options as of the record date (February 7, 2023), totaling 1,524,232 options.
-
Shareholders who receive cash options can declare to exercise their options in whole or in part during the declaration period (from February 17 to February 23, 2023) between 9:30-11:30 AM and 1:00-3:00 PM, using their AVIC Electromechanical shares at the cash option exercise price, transferring their shares to the cash option provider, AVIC Technology Co., Ltd. (hereinafter referred to as "AVIC Technology").
-
As of February 7, 2023, the last trading day for the Company's stock, the closing price of AVIC Electromechanical was 10.78 CNY/share, and the cash option exercise price is 10.33 CNY/share. Shareholders who validly declare to exercise their cash options will receive cash compensation at the exercise price of 10.33 CNY/share. The reference stock price of the underlying stock (i.e., AVIC Electromechanical stock) does not exceed a 50% premium over the cash option agreed price, and the absolute value of the Delta of the rights contained in this cash option is not less than 5%. According to the relevant regulations of the "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 1 - Business Handling," the Company will provide cash options through the trading system (displayed as "cash options" in the system declaration). Specific operational methods are detailed in the section "III. Methods for Declaring Cash Option Exercise."