due diligence, prudent verification and issue special reports in accordance with the relevant requirements of the Circular. On the issue of inter-industry competition, the Company will formulate practical solutions based on the financial adviser's special report, including but not limited to asset injection, business integration, business trusteeship, etc., to promote the Proposed Spin-off and Listing actively.
In view of the complexity of the Proposed Spin-off and Listing and lots of internal and external approval procedures involved, in order to ensure the smooth progress of the work, the Board authorized the Company's management to initiate the preliminary preparatory work for the Proposed Spin-off and Listing, including but not limited to the demonstration of feasibility schemes, the selection of intermediaries, the introduction of strategic investment (if any), compilation of listing plans and application materials, signing of relevant agreements involved in the planning process and other listing-related matters are organized, and the proposal and other related matters are submitted to the Board and shareholders general meeting of the Company for consideration after formulating the Proposed Spin-off and Listing.
The shareholders and potential investors of the Company are advised to note that the Proposed Spin-off and Listing is at the start-up stage of the project and subject to, among other things, the approval of the shareholders of the Company, the approval of CSRC and the HKEx, the final decision of the Board, market conditions and other factors. Accordingly, the shareholders and potential investors of the Company should be aware that there is no assurance that the Proposed Spin-off and Listing will take place or as to when it may take place. Shareholders and potential investors of the Company should therefore exercise caution when dealing in the securities of the Company. Any person who is in doubt about his/her/its position or any action to be taken is recommended to consult his/her/its own professional advisers.
Further announcement(s) will be made by the Company in relation to the Proposed Spin-off and Listing as and when appropriate in accordance with the Listing Rules.
The Board of
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited
Guangzhou, the PRC, 10 September 2019
As at the date of this announcement, the Board comprises Mr. Li Chuyuan, Ms. Cheng Ning, Ms. Liu Juyan, Mr. Ni Yidong, Mr. Li Hong, Mr. Wu Changhai and Mr. Zhang Chunbo as executive directors, and Mr. Chu Xiaoping, Mr. Jiang Wenqi, Mr. Wong Hin Wing and Ms. Wang Weihong as independent non-executive directors.