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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Geely Automobile Holdings Ltd    0175   KYG3777B1032

GEELY AUTOMOBILE HOLDINGS LTD (0175)
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Geely Automobile : POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING HELD ON 18 SEPTEMBER 2017

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09/18/2017 | 01:24pm CEST

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.

吉利汽車控股有限公司

GEELY AUTOMOBILE HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 175)

POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING HELD ON 18 SEPTEMBER 2017

The Board is pleased to announce that the resolution proposed at the EGM held on 18 September 2017 was duly passed by the Independent Shareholders as an ordinary resolution by way of poll.

Reference is made to the circular of the Company dated 1 September 2017 (the "Circular") regarding a discloseable and connected transaction in relation to the JV Formation. Unless the context otherwise requires, capitalized terms used in this announcement shall have the same meaning as those defined in the Circular.

POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING HELD ON 18 SEPTEMBER 2017

The board of directors (the "Board") of Geely Automobile Holdings Limited (the "Company") is pleased to announce that at the extraordinary general meeting of the Company held on 18 September 2017 (the "EGM"), the resolution as set out in the notice of the EGM was approved by the Independent Shareholders as an ordinary resolution by way of poll in the manner prescribed under Rule 13.39(4) of the Listing Rules. The Company's Hong Kong share registrar, Union Registrars Limited, was appointed as scrutineer for the vote-taking at the EGM.

Geely Holding is owned as to 90% by Mr. Li as at the date of the EGM and Mr. Li, Mr. Yang Jian, Mr. Li Dong Hui, Daniel and Mr. An Cong Hui are directors of Geely Holding. Mr. Li, Mr. Yang Jian, Mr. Li Dong Hui, Daniel and Mr. An Cong Hui, each an executive director of the Company, are considered to have material interests in the JV Formation by virtue of their interests and/or directorship in Geely Holding. As at the date of the EGM, Mr. Li and his associates together holding 3,948,604,000 Shares (representing approximately 44.08% of the total issued share capital of the Company), Mr. Yang Jian and his associates together holding 14,475,000 Shares (representing approximately 0.16% of the total issued share capital of the Company), Mr. Li Dong Hui, Daniel and his associates together holding 4,200,000 Shares (representing approximately 0.05% of the total

issued share capital of the Company), and Mr. An Cong Hui and his associates together holding 16,280,000 Shares (representing approximately 0.18% of the total issued share capital of the Company), had abstained from voting at the EGM.

As at the date of the EGM, the Company had 8,957,424,540 Shares in issue. Independent Shareholders holding a total of 4,973,865,540 Shares were entitled to attend and vote for or against the resolution at the EGM. Save for the above, there were no Shares of holders that are required under the Listing Rules to abstain from voting at the EGM. There were no Shares entitling the holder to attend and vote only against the resolution at the EGM.

The poll results in respect of the resolution as set out in the notice of the EGM were as follows:

Ordinary Resolution

Number of Votes (%)

For

Against

1.

To approve, ratify and confirm the Joint Venture Agreement (as defined in the Circular) and the transactions contemplated thereunder.

2,289,387,152

99.924%

1,750,001

0.076%

As more than 50% of the votes were cast in favour of the resolution, the resolution was duly passed as an ordinary resolution.

By order of the Board of

Geely Automobile Holdings Limited David C.Y. Cheung Company Secretary

Hong Kong, 18 September 2017

As at the date of this announcement, the executive directors of the Company are Mr. Li Shu Fu (Chairman), Mr. Yang Jian (Vice Chairman), Mr. Li Dong Hui, Daniel (Vice Chairman), Mr. Gui Sheng Yue (Chief Executive Officer), Mr. An Cong Hui, Mr. Ang Siu Lun, Lawrence and Ms. Wei Mei, the non-executive director of the Company is Mr. Carl Peter Edmund Moriz Forster, and the independent non-executive directors of the Company are Mr. Lee Cheuk Yin, Dannis, Mr. Yeung Sau Hung, Alex, Mr. An Qing Heng and Mr. Wang Yang.

Geely Automobile Holdings Ltd. published this content on 18 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 September 2017 11:23:07 UTC.

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Financials (CNY)
Sales 2018 118 B
EBIT 2018 16 182 M
Net income 2018 14 309 M
Finance 2018 16 080 M
Yield 2018 2,44%
P/E ratio 2018 8,85
P/E ratio 2019 6,93
EV / Sales 2018 0,93x
EV / Sales 2019 0,73x
Capitalization 125 B
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 21,9  CNY
Spread / Average Target 57%
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Managers
NameTitle
Sheng Yue Gui Chief Executive Officer & Executive Director
Wen Ze Xu President
Shu Fu Li Chairman
Siu Lun Ang Executive Director
Jian Yang Vice Chairman
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