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.
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(Incorporated in the Cayman Islands with limited liability)
(Stock code: 01164) DISCONTINUATION OF QUARTERLY FINANCIAL RESULTS REPORTING
The Board announces that the Company will discontinue its
current voluntary practice of Quarterly Reporting with
immediate effect. The Company will continue to comply with
its disclosure requirements under the Listing Rules by
publishing the Group's interim 6-month and annual financial
results within the time limits prescribed by the Listing
Rules from time to time.
The board of directors (the "Board") of CGN Mining Company
Limited (the "Company") announces that the Company will
discontinue its current voluntary practice of preparing,
announcing and publishing the quarterly financial results for
the first and third quarters of each financial year
("Quarterly Reporting") for the Company and its subsidiaries
(the "Group") with immediate effect.
The Company will continue to comply with its disclosure
requirements under the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited (the
"Listing Rules") by preparing, filing and announcing the
Group's interim 6-month and annual financial results within
the time limits prescribed by the Listing Rules.
The Board considers that the new practice of discontinuing
the Quarterly Reporting is more effective in terms of
administrative expenses and management efficiency within the
Group.
Furthermore, as the Company will continue to comply with its
disclosure requirements under the Listing Rules by publishing
its financial information in a timely manner, the Company can
still provide Shareholders and investors with an adequate
degree of transparency of the financial position of the Group
during the relevant period. After due and careful
consideration, the Board believes that discontinuing
Quarterly Reporting will not prejudice the interests of the
Company's shareholders and investors.
By Order of the Board
Chief Executive Officer
Hong Kong, 20 July 2012
As at the date of this announcement, the board of directors of the Company comprises two executive directors: Mr. He Zuyuan (chief executive officer) and Mr. Li Xianli, four non-executive directors: Mr. Yu Zhiping (chairman), Mr. Wei Qiyan, Ms. Jin Yunfei and Mr. Huang Jianming and three independent non-executive directors: Mr. Ling Bing, Mr. Qiu Xianhong and Mr. Huang Jinsong.
* For identification purposes only
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