ZHAOJIN MINING INDUSTRY COMPANY LIMITED Hong Kong 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.
This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.
招金礦業股份有限公司
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1818)-
DISCLOSEABLE AND CONNECTED TRANSACTIONS REGARDING THE ACQUISITION OF
TWO MINING RIGHTS, LAND USE RIGHTS IN 20 PIECES OF STATE-OWNED LAND PARCELS AND 100% EQUITY
INTEREST IN ZHAOYUAN GOLD SUPPLIES CENTRE COMPANY LIMITED OWNED BY SHANDONG ZHAOJIN COMPANY LIMITED
- WHITEWASH WAIVER APPLICATION AND
- DELAY IN DESPATCH OF WHITEWASH CIRCULAR
Reference is made to the announcement of Zhaojin Mining Industry Company Limited (the "Company") dated 29 December 2015 relating to the Acquisition (the "Acquisition Announcement") and the announcement of the Company dated 15 January 2016 relating to the issue of a supplemental announcement (the "Announcement"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Acquisition Announcement and the Announcement.
Pursuant to Rule 8.2 of the Takeovers Code, unless the consent of the Executive is obtained, a circular containing, among others, further information on the Acquisition and the Whitewash Waiver (the "Circular") should normally be despatched to the Shareholders within 21 days of the date of the Acquisition Announcement, which in this case would be on or before 19 January 2016.
As the Company is in the process of preparing a supplemental announcement (the "Supplemental Announcement") on the Acquisition Announcement which shall include, amongst others, additional information on the Acquisition and Whitewash Waiver application in compliance with the Takeovers Code. The Company will issue the Supplemental Announcement as soon as practicable when the information to be included therein is finalized.
The Company is in the course of appointing a financial adviser and auditor or accountant to report on any profit forecast contained in the Acquisition Announcement in accordance with Rule 10 of the Takeovers Code and it will need additional time to comply with this requirement of the Takeovers Code.
Property valuation in relation to Zhaojin Group's interest in certain properties will be included in the Circular which is being prepared by Knight Frank and is expected to be finalised around mid to late February 2016.
The Company and its advisers are concurrently conducting various tasks to fulfil the relevant requirements under the Listing Rules. More time is needed in order for the Company and the various advisers to perform the necessary work so that they can provide the relevant information, report and advice in accordance with the requirements of the Takeovers Code and the Listing Rules.
For the above reasons, an application was made to the Executive and the Executive has indicated that it will grant its consent to an extension of time to despatch the Circular by no later than 26 February 2016.
The Directors jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.
By order of the Board
Zhaojin Mining Industry Company Limited* Weng ZhanbinChairman
Zhaoyuan, the PRC, 19 January 2016
As at the date of this announcement, the board of directors comprises:
Executive Directors: Mr. Weng Zhanbin, Mr. Li Xiuchen,
Mr. Lu Dongshang and Mr. Cong Jianmao
Non-executive Directors: Mr. Liang Xinjun, Mr. Xu Xiaoliang and Mr. Wu Yijian
Independent non-executive Directors: Ms. Chen Jinrong, Mr. Choy Sze Chung Jojo,
Mr. Xie Jiyuan and Mr. Nie Fengjun
* For identification purposes only
Zhaojin Mining Industry Company Limited issued this content on 2016-01-22 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-22 08:09:03 UTC
Original Document: http://www.zhaojin.com.cn/html/2016-01-22/1649089121.htm
