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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  AviChina Industry & Technology Company Limited    2357   CNE1000001Y8

AVICHINA INDUSTRY & TECHNOLOGY COMPANY LIMITED

(2357)
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AviChina Industry & Technology : ANNOUNCEMENT-DELAY IN DESPATCH OF CIRCULAR AND CLOSURE OF REGISTER OF MEMBERS

12/27/2019 | 04:56am 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.

中國航空科技工業股份有限公司

AviChina Industry & Technology Company Limited*

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

(Stock Code: 2357)

ANNOUNCEMENT

DELAY IN DESPATCH OF CIRCULAR AND

CLOSURE OF REGISTER OF MEMBERS

Reference is made to the announcement of AviChina Industry & Technology Company Limited (the "Company") dated 28 November 2019 in relation to the proposed acquisition of the target equity and proposed issuance of consideration shares under the specific mandate (the "Announcement"). Unless the context otherwise specified, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

Delay in Despatch of Circular

The Company indicated in the Announcement that a circular containing, among other things: (1) information relating to the Equity Acquisition and Share Issuance Agreement and the transactions contemplated thereunder (including the Proposed Acquisition and Proposed Issuance); (2) a letter from the Independent Board Committee containing its opinion and recommendations on the Equity Acquisition and Share Issuance Agreement and the transactions contemplated thereunder (including the Proposed Acquisition and Proposed Issuance); (3) a letter of advice from the IFA to the Independent Board Committee and the Independent Shareholders; and (4) a notice of the EGM, will be despatched to the Shareholders on or before 30 December 2019. As additional time is required for the Company to finalise certain information to be included in the circular, the Company expects that the despatch of the circular will be postponed to a date falling on or before 14 January 2020.

Closure of Register of Members

The Board hereby announces that the EGM will be held at 9:00 a.m. on Thursday, 13 February 2020 for considering and approving the resolution relating to the transactions as set out in the Announcement .

For the purpose of determining the entitlement to attend and vote at the EGM, according to Article 41 of the articles of association of the Company, the H Share register of members of the Company will be closed from Friday, 24 January 2020 to Thursday, 13 February 2020 (both days inclusive), during which period no transfer of H Shares will be registered. Shareholders of the Company whose names appear on the Company's Register of Members at the opening of business on Thursday, 13 February 2020 are entitled to attend and vote at the EGM.

In order to be eligible to attend and vote at the EGM, Shareholders of the Company shall lodge all transfer instruments together with the relevant share certificates with Computershare Hong Kong Investor Services Limited, the Company's H Shares Registrar, not later than 4:30 p.m. on Thursday, 23 January 2020 at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queens' Road East, Wan chai, Hong Kong.

By Order of the Board

AviChina Industry & Technology Company Limited*

Xu Bin

Company Secretary

Beijing, 27 December 2019

As at the date of this announcement, the Board comprises executive Directors Mr. Chen Yuanxian and Mr. Wang Xuejun, non-executive Directors Mr. Yan Lingxi, Mr. Lian Dawei, and Mr. Xu Gang as well as independent non-executive Directors Mr. Liu Renhuai, Mr. Liu Weiwu and Mr. Wang Jianxin.

* For identification purposes only

Disclaimer

AviChina Industry & Technology Co. Ltd. published this content on 27 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2019 09:55:00 UTC


© Publicnow 2019
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Financials
Sales 2020 46 998 M 7 254 M 7 254 M
Net income 2020 1 641 M 253 M 253 M
Net cash 2020 2 825 M 436 M 436 M
P/E ratio 2020 24,9x
Yield 2020 0,58%
Capitalization 48 091 M 7 410 M 7 423 M
EV / Sales 2020 0,96x
EV / Sales 2021 0,86x
Nbr of Employees 43 436
Free-Float 38,6%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 4
Average target price 5,29 CNY
Last Close Price 6,24 CNY
Spread / Highest target 0,64%
Spread / Average Target -15,1%
Spread / Lowest Target -28,4%
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Managers and Directors
NameTitle
Hong Wei Zhao General Manager
Qiang Zheng Chairman-Supervisory Board
Xue Jun Wang Chairman
Guo Fei Tao Chief Financial Officer & Deputy GM
Ren Huai Liu Independent Non-Executive Director
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