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COSCO SHIPPING Development Co., Ltd. — Capital/Financing Update 2016
Jun 1, 2016
50782_rns_2016-06-01_0a33ca45-ae95-4a62-a0b6-eba236341145.pdf
Capital/Financing Update
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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.
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(A joint stock limited company incorporated in the People’s Republic of China with limited liability)
(Stock code: 02866)
OVERSEAS REGULATORY ANNOUNCEMENT
ANNOUNCEMENT BY CHINA SHIPPING CONTAINER LINES COMPANY LIMITED IN RELATION TO DEVELOPMENT OF IMPLEMENTATION OF MAJOR ASSET RESTRUCTURING
This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
At the first 2016 Extraordinary General Meeting of China Shipping Container Lines Company Limited (the “ Company ”) held on 1 February 2016, the relevant resolution with respect to Material Asset Restructuring, along with the Report on Major Asset Disposal and Major Asset Acquisition of China Shipping Container Lines Company Limited and the Connected Transactions (the” Restructuring Report ”), was considered and approved, the details of which are referred to the Restructuring Report as set forth in the announcement of the Company dated 25 December 2015 on the website of Shanghai Stock Exchange (www.sse.com.cn). As authorized by the extraordinary general meeting, the Company is in the progress of completing the procedures in relation to the material asset restructuring. We hereby announce the progress of implementation as follows:
I. TRANSFER REGISTRATION OF TARGET COMPANIES
As of the date of this announcement, transfer registration has been completed for the following companies under this major asset restructuring:
| Proportion | ||
|---|---|---|
| of Equity | ||
| No. | Name of Target Companies | Interests |
| Major | disposal of assets | |
| 1. | China Shipping Container Lines Dalian Co., Ltd. | 100% |
| 2. | China Shipping Container Lines Tianjin Company Limited | 100% |
| 3. | China Shipping Container Lines Qingdao Company Limited | 100% |
| 4. | China Shipping Container Lines Shanghai Co., Ltd. | 100% |
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| 5. | China Shipping Container Lines Xiamen Co., Ltd. | 100% |
|---|---|---|
| 6. | China Shipping Container Lines Guangzhou Co., Ltd. | 100% |
| 7. | China Shipping Container Lines Shenzhen Co., Ltd. | 100% |
| 8. | China Shipping Container Lines Hainan Company Limited | 100% |
| 9. | China Shipping Container Lines Yingkou Company Limited | 10% |
| 10. | China Shipping Container Lines Qinhuangdao Company Limited | 10% |
| 11. | China Shipping Container Lines Lianyungang Company Limited | 10% |
| 12. | China Shipping Container Lines Longkou Company Limited | 10% |
| 13. | China Shipping Container Lines Zhejiang Company Limited | 45% |
| 14. | China Shipping Container Lines Jiangsu Company Limited | 45% |
| 15. | China Shipping Container Lines Quanzhou Company Limited | 10% |
| 16. | China Shipping Container Lines Fuzhou Company Limited | 10% |
| 17. | China Shipping Container Lines Shantou City Company Limited | 10% |
| 18. | China Shipping Container Lines Zhongshan Company Limited | 10% |
| 19. | China Shipping Container Lines Fangchenggang Company Limited | 10% |
| 20. | China Shipping Container Lines Zhanjiang Company Limited | 10% |
| 21. | China Shipping Container Lines Jiangmen Company Limited | 10% |
| 22. | China Shipping Container Lines Dongguan City Company Limited | 10% |
| 23. | China Shipping (Yangpu) Refrigeration Storage & Transportation | 100% |
| Co., Ltd. | ||
| 24. | China Shipping Container Lines (Dalian) Data Processing Co., Ltd. | 100% |
| 25. | Shanghai Puhai Shipping Liners Co., Ltd. | 98.2% |
| 26. | Dalian Vanguard International Logistics Co., Ltd. | 50% |
| 27. | Jinzhou Port Container and Railway Logistics Limited | 45% |
| 28. | Angang Vehicle Transportation Co., Ltd. | 20.07% |
| 29. | China Shipping Container Lines Agency (Shenzhen) Co., Ltd. | 100% |
| 30. | Universal Shipping (Asia) Company Limited | 100% |
| 31. | Golden Sea Shipping Pte. Ltd. | 60% |
| 32. | China Shipping Container Lines (Hong Kong) Agency Co., Limited | 100% |
| 33. | China Shipping (Singapore) Petroleum Pte. Ltd. | 91% |
| 34. | China Shipping Ports Development Co., Ltd. | 49% |
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Major acquisition of assets
| 1. | China Shipping Investment Co., Ltd. | 100% |
|---|---|---|
| 2. | China Shipping Leasing Co., Ltd. | 100% |
| 3. | China Shipping Finance Company Limited | 40% |
| 4. | China Shipping Nauticgreen Holdings Company Limited | 100% |
| 5. | Helen Insurance Brokers Limited | 100% |
| 6. | Dong Fang International Investment Limited | 100% |
| 7. | Long Honour Investments Limited | 100% |
| 8. | Florens Container Holdings Limited | 100% |
II. DEVELOPMENT wITH SALES OF TARGET COMPANIES
Currently, the Company is in the process of fulfilling the procedures in relation to sales of 100% equity interests in China Shipping Container Lines Agency (Shenzhen) Co., Ltd. and 100% equity interests in Universal Logistics (Shenzhen) Co., Ltd., and the sale of 100% equity interests in Universal Logistics (Shenzhen) Co., Ltd. is still subject to registration of changes with the industrial and commercial authorities.
Save for the transactions as mentioned above, acquisition of 13.67% of the China Bohai Bank Co., Ltd. (渤海銀行股份有限公司) and capital increase to COSCO Finance Co., Ltd. under the major asset restructuring require approvals from the competent authorities.
The Company will continue to complete the procedures in relation to the major asset restructuring and shall make disclosure of information in relation to the development in a timely matter in accordance with relevant laws and regulations.
By order of the Board China Shipping Container Lines Company Limited Yu Zhen Joint Company Secretary
Shanghai, the PRC 1 June 2016
The Board as at the date of this announcement comprises of Ms. Sun Yueying, Mr. Huang Xiaowen, Mr. Wang Daxiong and Mr. Liu Chong, being executive Directors, Mr. Ding Nong, Mr. Yu Zenggang, Mr. Yang Jigui, Mr. Han Jun and Mr. Chen Jihong, being non-executive Directors, and Ms. Zhang Nan, Mr. Guan Yimin, Mr. Shi Xin, Ms. Hai Chi Yuet and Mr. Graeme Jack, being independent non-executive Directors.
- The Company is a registered non-Hong Kong company as defined in the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and it is registered under its Chinese name and under the English name “China Shipping Container Lines Company Limited”.
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