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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Agricultural Bank of China Limited    1288   CNE100000Q43

AGRICULTURAL BANK OF CHINA LIMITED

(1288)
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Agricultural Bank of China : ANNOUNCEMENT ON THE POLL RESULTS OF THE 2019 SECOND EXTRAORDINARY GENERAL MEETING

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12/13/2019 | 07:01am EST

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.

AGRICULTURAL BANK OF CHINA LIMITED

中 國 農 業 銀 行 股 份 有 限 公 司

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

(Stock Code: 1288)

ANNOUNCEMENT ON THE POLL RESULTS OF

THE 2019 SECOND EXTRAORDINARY GENERAL MEETING

The board of directors (the "Board") of Agricultural Bank of China Limited (the "Bank") hereby announces that the 2019 second extraordinary general meeting of the Bank (the "EGM") was held at the Bank's headquarters, No.18B Jianguomen Nei Avenue, Beijing, PRC on Friday, 13 December 2019. Reference is made to the EGM circular of the Bank dated 25 October 2019, containing details of each of the resolutions proposed at the EGM for Shareholders' consideration and approval. Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the aforesaid circular.

The total number of issued ordinary shares of the Bank as at the date of the EGM was 349,983,033,873 shares, which was the total number of shares entitling the holders to attend and vote for, against or abstained any of the resolutions proposed at the EGM. There were no restrictions on the above holder of the Bank's ordinary shares casting votes on any of the proposed resolutions at the EGM. 64 Shareholders and authorised proxies holding an aggregate of 301,172,620,150 ordinary shares, representing 86.053491% of the total voting shares of the Bank were present at the EGM, details of which are set out below:

Total number of Shareholders and authorised proxies attending the EGM

64

  Total number of holders of A shares present at the EGM

55

  Total number of holders of H shares present at the EGM

9

Total number of voting shares present at the EGM

301,172,620,150

  Total number of voting shares held by holders of A shares

288,138,553,826

  Total number of voting shares held by holders of H shares

13,034,066,324

Percentage of voting shares present at the EGM

  in the total voting shares (%)

86.053491

  Percentage of voting shares held by holders of A shares

    in total voting shares (%)

82.329292

  Percentage of voting shares held by holders of H shares

    in total voting shares (%)

3.724199

Note: The total number of the Shareholders attending the EGM includes the Shareholders who attended the EGM on site and Shareholders who attended the EGM by way of online voting. As the resolutions proposed at the EGM do not have to be approved by the holders of preference shares of the Bank, holders of preference shares of the Bank did not attend the EGM.

1

The EGM was convened by the Board and chaired by Mr. ZHOU Mubing, the chairman of the Board. Voting at the EGM was conducted by poll. Computershare Hong Kong Investor Services Limited, the Bank's H share registrar, was appointed by the Bank as the scrutineer for the voting. The calling, convening and voting method of the EGM was in compliance with laws and regulations of the PRC (including the Company Law of the PRC, the Rules Governing Shareholders' General Meetings of Listed Companies issued by China Securities Regulatory Commission (the "CSRC") and the Implementation Rules for Online Voting at Shareholders' General Meetings of Listed Companies of Shanghai Stock Exchange) and the articles of association of the Bank (the "Articles of Association"). All of the Bank's 13 directors attended the EGM. All of the Bank's eight supervisors attended the EGM. Due to other business commitments, the Bank's secretary to the Board could not attend the EGM. The senior management of the Bank were present at the EGM.

POLL RESULTS

The poll results in respect of the resolutions proposed at the EGM were as follows:

Ordinary Resolutions

Number of Votes

For

Against

Abstained

1.

To

consider

and approve

the

301,167,954,719

208,323

4,457,108

final

remuneration

plan

for

(99.998451%)

(0.000069%)

(0.001480%)

directors of the Bank for 2018

2.

To

consider

and approve

the

301,167,954,819

208,323

4,457,008

final

remuneration

plan

for

(99.998451%)

(0.000069%)

(0.001480%)

supervisors of the Bank for

2018

3.

To

consider

and

approve

300,735,470,168

432,697,074

4,452,908

the election of Mr. ZHANG

(99.854851%)

(0.143670%)

(0.001479%)

Qingsong

as an

executive

director of the Bank

4.

To

consider

and approve

the

301,165,466,519

2,670,823

4,482,808

additional

special

budget

of

(99.997625%)

(0.000887%)

(0.001488%)

poverty alleviation donations in

2019

The ordinary resolutions above were duly passed as more than 1/2 of the votes were cast in favour of each resolution by the Shareholders and authorised proxies present at the EGM.

2

In accordance with the relevant regulatory requirements of the CSRC and the Shanghai Stock Exchange, the poll result of the voting of holders of A Shares with less than 5% of voting shares in respect of the resolution involving significant events at the EGM was as follow:

Resolutions

Number of Votes

For

Against

Abstained

1.

To

consider and approve

the

10,811,939,264

69,200

4,300

final remuneration

plan

for

(99.999320%)

(0.000640%)

(0.000040%)

directors of the Bank for 2018

3.

To

consider

and

approve

10,767,860,564

44,152,100

100

the election of Mr. ZHANG

(99.591638%)

(0.408361%)

(0.000001%)

Qingsong as

an

executive

director of the Bank

LAWYERS' CERTIFICATION

Ms. SU Zheng and Ms. JIANG Linlin, attorneys from King & Wood Mallesons, witnessed the EGM and issued a legal opinion certifying that the procedures to call and convene the EGM, the qualifications of attendees, the qualification of the caller and the voting process of the EGM and the other relevant issues were in compliance with laws and regulations of the PRC, including the Company Law of the PRC, the Rules Governing Shareholders' General Meetings of Listed Companies issued by the CSRC and the Implementation Rules for Online Voting at Shareholders' General Meetings of Listed Companies of Shanghai Stock Exchange and the Articles of Association. The poll results of the EGM were lawful and valid.

By Order of the Board

Agricultural Bank of China Limited

ZHOU Wanfu

Company Secretary

Beijing, the PRC

13 December 2019

As at the date of this announcement, the executive directors are Mr. ZHOU Mubing and Ms. ZHANG Keqiu; the non-executive directors are Mr. XU Jiandong, Mr. CHEN Jianbo, Mr. LIAO Luming, Mr. LI Qiyun, Mr. LI Wei and Mr. WU Jiangtao and the independent non-executive directors are Ms. XIAO Xing, Mr. WANG Xinxin, Mr. HUANG Zhenzhong, Ms. LEUNG KO May Yee, Margaret and Mr. LIU Shouying.

3

Disclaimer

Agricultural Bank of China Ltd. published this content on 13 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2019 12:00:06 UTC

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Financials (CNY)
Sales 2019 630 B
EBIT 2019 405 B
Net income 2019 210 B
Debt 2019 -
Yield 2019 6,29%
P/E ratio 2019 4,84x
P/E ratio 2020 4,57x
Capi. / Sales2019 1,95x
Capi. / Sales2020 1,82x
Capitalization 1 229 B
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Number of Analysts 23
Average target price 3,65  CNY
Last Close Price 2,90  CNY
Spread / Highest target 65,5%
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Spread / Lowest Target -3,74%
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