Zhejiang Expressway CSRC Approval of the Proposed Spin-Off
02 May 2017 - 11:45PM
UK Regulatory
TIDMZHEH
Hong Kong Stock Exchanges and Clearing Limited and The Stock Exchange of Hong
Kong Limited take no responsibility for the contents of this announcement, make
no representation as to its accuracy or completeness and expressly disclaim 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 EXPRESSWAY CO. LTD.
(A joint stock limited company incorporated in the People's Republic of China
with limited liability)
(Stock code: 0576)
CSRC APPROVAL OF THE
PROPOSED SPIN-OFF AND SEPARATE LISTING OF THE SPINCO ON THE SHANGHAI STOCK
EXCHANGE
The announcement is made by the Board of the Company pursuant to Rule 13.09(2)
of the Listing Rules and the inside information provisions under Part XIVA of
the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the announcement of the Company dated 7 May 2013 (the "
Announcement") in relation to the Proposed Spin-off of Zheshang Securities Co.,
Ltd., an indirectly owned subsidiary of the Company (the "SpinCo"), by way of
separate A shares listing (the "A Share Listing") of the SpinCo on the Shanghai
Stock Exchange. Terms defined in the Announcement shall have the same meanings
herein, unless the context otherwise requires.
The Board is pleased to announce that on 2 May 2017, the SpinCo obtained the
CSRC's approval in respect of the A Share Listing.
As at the date of this announcement, the final offering size, the issue price
and other details of the A Share Listing have yet to be finalised.
Further announcement will be made by the Company as and when appropriate in
respect of the details and any material development in relation to the Proposed
Spin-off.
Shareholder s and public investors should note that there is no assurance as to
whether or when the Proposed Spin-off will complete. As the Proposed Spin-off
may or may not complete, the Shareholders and public investors are advised to
exercise caution when dealing in the securities of the Company.
On behalf of the Board
Zhejiang Expressway Co., Ltd.
ZHAN Xiaozhang
Chairman
Hangzhou, the PRC, 2 May 2017
As at the date of this announcement, the executive directors of the Company
are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive
directors of the Company are: Mr. WANG Dongjie, Mr. DAI Benmeng, and Mr. ZHOU
Jianping; and the independent non-executive directors of the Company are: Mr.
ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.
END
(END) Dow Jones Newswires
May 02, 2017 09:45 ET (13:45 GMT)
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