HK Bourse: Release from Zhejiang Glass On Dir Change -9

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ZHEJIANG GLASS COMPANY, LIMITED
(a joint stock limited company incorporated in the People's Republic of China)(Stock Code: 739)
(1) PROPOSED A SHARE ISSUE
(2) PROPOSED AMENDMENTS TO THE ARTICLES
(3) RESIGNATION OF DIRECTORS AND
PROPOSED APPOINTMENT OF NEW INDEPENDENT
NON-EXECUTIVE DIRECTOR
(4) APPOINTMENT OF NEW SUPERVISORS
PROPOSED A SHARE ISSUE

The Board is pleased to announce that at the Board meeting of the Company held on 4 January 2005, it was resolved that the Company shall apply to the relevant authorities in the PRC for the allotment and issue of not more than 280 million A Shares to institutional and public investors in the PRC and such A Shares are proposed to be listed on the Shanghai Stock Exchange.

It is intended that the net proceeds from the A Share Issue would not exceed RMB1,500 million which are intended to be used for the construction of a production line for soda ash and three glass production lines, details of which are set out below in this announcement. The A Share Issue is subject to approvals from (a) Shareholders to be sought at separate Class Meetings and the EGM; and (b) the relevant PRC authorities.

280 million A Shares represent approximately 48.38% of the existing issued share capital of the Company and approximately 32.61% of the enlarged issued share capital of the Company immediately after completion of the proposed A Share Issue.

600450 HK Bourse: Release from Zhejiang Glass On Dir Change -9 glassonweb.com

See more news about:

Others also read

Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

Add new comment