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AIRC Air China Ld

78.8045
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Air China Ld LSE:AIRC London Ordinary Share CNE1000001S0 H SHS CNY1
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 78.8045 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Air Transport, Scheduled 52.74B -35.02B -7.0666 -0.07 2.28B

Air China Ld COMPLETION OF NON-PUBLIC A SHARE ISSUE (3690Z)

14/03/2017 7:01am

UK Regulatory


Air China Ld (LSE:AIRC)
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TIDMAIRC

RNS Number : 3690Z

Air China Ld

14 March 2017

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.

AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 00753)

COMPLETION OF NON-PUBLIC A SHARE ISSUE

References are made to the announcements of Air China Limited (the "Company") dated 28 July 2015, 11 December 2015, 26 January 2016, 25 May 2016, 22 July 2016, 2 December 2016 and 23 January 2017 and the circulars of the Company dated 5 January 2016, 10 May 2016 and 5 December 2016 (together, the "Circulars") in relation to the Non-public A Share Issue. Unless otherwise indicated, capitalised terms used in this announcement shall have the same meanings as those defined in the Circulars.

The Company is pleased to announce the following results of the Non-public A Share Issue:

   1.      NUMBER OF SHARES ISSUED AND ISSUE PRICE 

Type of shares:: RMB ordinary shares (A Shares)

Number of shares issued:: 1,440,064,181 A Shares

Issue price:: RMB7.79 per Share

Total proceeds:: RMB11,218,099,969.99

Net proceeds:: RMB11,200,418,471.06

   2.      NUMBER OF SHARES SUBSCRIBED AND LOCK-UP PERIOD 
 
                                                Number of shares 
                                                      subscribed   Lock-up period 
 No.   Placee(s)                                        (shares)         (months) 
 1     CNAHC                                         513,478,818               36 
 2     China Structural Reform Fund Co., Ltd.        231,065,468               12 
         ( ) 
       Zhongyuan Equity Investment Management 
        Co., Ltd. 
 3      ( )                                          256,739,409               12 
       China National Aviation Fuel Group 
 4      Corporation                                  385,109,114               12 
 5     Caitong Fund Management Co., Ltd.              15,147,625               12 
         ( ) 
 6     CIB Asset Management Co., Ltd.                 12,849,807               12 
         ( ) 
 7     Horizon Asset Management Co., Ltd.             12,836,970               12 
         ( ) 
 8     E Fund Management Co., Ltd. ( )                12,836,970               12 
 

* English names of the PRC entities are literal translation of their Chinese names and are included for identification purpose only.

CNAHC is the controlling shareholder of the Company. After the Non-public A Share Issue, CNAHC will hold directly and indirectly 7,508,571,617 Shares, representing 51.70% of the total issued share capital of the Company, and CNAHC will remain the controlling shareholder of the Company.

   3.      EXPECTED LISTING DATES 

On 10 March 2017, the procedures for registration of the new A Shares with the Shanghai Branch of China Securities Depository & Clearing Co. Ltd. ( ) were completed. The new A Shares subscribed for by CNAHC are subject to a lock-up period of 36 months from the completion date of the Non-public A Share Issue and are expected to be listed for trading on 10 March 2020. Those new A Shares subscribed by other investors are subject to a lock-up period of 12 months from the completion date of the Non-public A Share Issue and are expected to be listed for trading on 10 March 2018 (extended to the next trading day 12 March 2018 as 10 March 2018 is a Saturday).

   4.      TRANSFER OF ASSETS 

The new A Shares were subscribed by CNAHC, China Structural Reform Fund Co., Ltd., Zhongyuan Equity Investment Management Co., Ltd., China National Aviation Fuel Group Corporation, Caitong Fund Management Co., Ltd., CIB Asset Management Co., Ltd., Horizon Asset Management Co., Ltd. and E Fund Management Co., Ltd. in cash and did not involve any transfer of assets.

5. CHANGES IN THE TOP TEN SHAREHOLDERS OF THE COMPANY BEFORE AND AFTER THE NON-PUBLIC A SHARE ISSUE

   (1)     Top ten Shareholders of the Company before the Non-public A Share Issue 

Top ten Shareholders of the Company before the Non-public A Share Issue (as of 28 February 2017):

 
                                      Number of Shares   Percentage of 
 No.   Name of Shareholder                        held    Shareholding   Type 
                                                                         A Shares (not subject 
 1     CNAHC                             5,438,757,879          41.57%    to trading moratorium) 
                                                                         H Shares (not subject 
 2     Cathay Pacific                    2,633,725,455          20.13%    to trading moratorium) 
                                                                         Note 1 
                                                                          H Shares (not subject 
 3     HKSCC NOMINEES LIMITED            1,683,174,520          12.86%    to trading moratorium) 
 4     CNACG                             1,556,334,920          11.89%   Note 2 
       China Securities 
        Finance Corporation                                              A Shares (not subject 
 5      Limited                            222,817,266           1.70%    to trading moratorium) 
       China National Aviation                                           A Shares (not subject 
 6      Fuel Group Corporation              86,300,000           0.66%    to trading moratorium) 
       Sinotrans Air Transportation 
        Development Co.,                                                 A Shares (not subject 
 7      Ltd.                                75,800,000           0.58%    to trading moratorium) 
       National Social Security                                          A Shares (not subject 
 8      Fund 118                            51,445,819           0.39%    to trading moratorium) 
       China Merchants Securities                                        A Shares (not subject 
 9      Co., Ltd.                           38,070,273           0.29%    to trading moratorium) 
                                                                         A Shares (not subject 
 10    Jiang Hongye                         23,000,000           0.18%    to trading moratorium) 
 

Note 1: HKSCC Nominees Limited is a subsidiary of Hong Kong Exchanges and Clearing Limited and its main business is acting as nominee for other corporate shareholders or individual shareholders. The 1,683,174,520 H Shares it held in the Company did not include the 166,852,000 H Shares which HKSCC Nominees Limited held as nominee for CNACG.

Note 2: CNACG held 1,556,334,920 Shares, among which, 1,332,482,920 Shares were A Shares not subject to trading moratorium and 223,852,000 Shares were H Shares not subject to trading moratorium.

   (2)     Top ten Shareholders of the Company after the Non-public A Share Issue 

As of 10 March 2017 (being the share registration date of the Non-public A Share Issue), based on the information available to the Company, the top ten Shareholders of the Company upon completion of registration of the new A Shares issued pursuant to the Non- public A Share Issue were as follows:

 
                                          Number of         Percentage 
 No.   Name of Shareholder              Shares held    of Shareholding   Type 
 1     CNAHC                          5,952,236,697             40.98%   Note 1 
                                                                         H Shares (not subject 
 2     Cathay Pacific                 2,633,725,455             18.13%    to trading moratorium) 
                                                                         Note 2 
                                                                          H Shares (not 
                                                                          subject to trading 
 3     HKSCC NOMINEES LIMITED         1,683,174,520             11.59%    moratorium) 
 4     CNACG                          1,556,334,920             10.72%   Note 3 
       China National Aviation 
 5      Fuel Group Corporation          471,409,114              3.25%   Note 4 
       Zhongyuan Equity Investment 
 6      Management Co., Ltd.            262,573,089              1.81%   Note 5 
       China Structural Reform 
 7      Fund Co., Ltd.                  231,065,468              1.59%   Note 6 
       China Securities Finance                                          A Shares (not subject 
 8      Corporation Limited             225,111,948              1.55%    to trading moratorium) 
       Sinotrans Air Transportation                                      A Shares (not subject 
 9      Development Co., Ltd.            75,800,000              0.52%    to trading moratorium) 
       National Social Security                                          A Shares (not subject 
 10     Fund 118                         46,445,819              0.32%    to trading moratorium) 
 

Note 1: CNAHC has undertaken not to transfer the subscribed 513,478,818 Shares within 36 months from the completion date of the Non-public A Share Issue. Such Shares are A Shares subject to trading moratorium. Following the completion of the Non-public A Share Issue, CNAHC held 5,952,236,697 Shares, among which, 5,438,757,879 Shares were A Shares not subject to trading moratorium and 513,478,818 Shares were A Shares subject to trading moratorium.

Note 2: HKSCC Nominees Limited is a subsidiary of Hong Kong Exchanges and Clearing Limited and its main business is acting as nominee for other corporate shareholders or individual shareholders. The 1,683,174,520 H Shares it held in the Company did not include the 166,852,000 H Shares which HKSCC Nominees Limited held as nominee for CNACG.

Note 3: CNACG held 1,556,334,920 Shares, among which, 1,332,482,920 Shares were A Shares not subject to trading moratorium and 223,852,000 Shares were H Shares not subject to trading moratorium.

Note 4: China National Aviation Fuel Group Corporation has undertaken not to transfer the subscribed 385,109,114 Shares within 12 months from the completion date of the Non-public A Share Issue. Such Shares are A Shares subject to trading moratorium. Following the completion of the Non-public A Share Issue, China National Aviation Fuel Group Corporation held 471,409,114 Shares, among which, 86,300,000 Shares were A Shares not subject to trading moratorium and 385,109,114 Shares were A Shares subject to trading moratorium.

Note 5: Zhongyuan Equity Investment Management Co., Ltd. has undertaken not to transfer the subscribed 256,739,409 Shares within 12 months from the completion date of the Non-public A Share Issue. Such Shares are A Shares subject to trading moratorium. Following the completion of the Non-public A Share Issue, Zhongyuan Equity Investment Management Co., Ltd. held 262,573,089 Shares, among which, 5,833,680 Shares were A Shares not subject to trading moratorium and 256,739,409 Shares were A Shares subject to trading moratorium.

Note 6: China Structural Reform Fund Co., Ltd. has undertaken not to transfer the subscribed 231,065,468 Shares within 12 months from the completion date of the Non-public A Share Issue. Such Shares are A Shares subject to trading moratorium. Following the completion of the Non-public A Share Issue, China Structural Reform Fund Co., Ltd. held 231,065,468 Shares which were A Shares subject to trading moratorium.

The Non-public A Share Issue did not result in the change in the control of the Company.

   6.      INTERMEDIARIES 
 
 Sponsor (lead underwriter):   CSC Financial Co., Ltd. 
 
 Joint lead underwriters:      CSC Financial Co., Ltd. and CITIC Securities 
                                Co., Ltd. 
 

By order of the Board

Air China Limited

   Rao Xinyu      Tam  Shuit Mui 

Joint Company Secretaries

Beijing, the PRC, 13 March 2017

As at the date of this announcement, the directors of the Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. Cao Jianxiong, Mr. Feng Gang, Mr. John Robert Slosar, Mr. Ian Sai Cheung Shiu, Mr. Pan Xiaojiang*, Mr. Simon To Chi Keung*, Mr. Stanley Hui Hon-chung* and Mr. Li Dajin*.

   *      Independent non-executive director of the Company 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCJIMFTMBJBMFR

(END) Dow Jones Newswires

March 14, 2017 03:01 ET (07:01 GMT)

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