China Huarong Energy : Announcements and Notices - NOTICE OF EXTRAORDINARY GENERAL MEETING

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CHINA HUARONG ENERGY COMPANY LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01101)

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN THAT an extraordinary general meeting (the "EGM") of China Huarong Energy Company Limited (the "Company") will be held at United Conference Centre, 10/F, United Centre, 95 Queensway, Admiralty, Hong Kong on Friday, 15 January 2021 (or at any adjournment thereof), at 9:30 a.m., for the purpose of considering and, if thought fit, passing with or without modifications, the following resolution of the Company:

ORDINARY RESOLUTION

"THAT the terms of and the transactions contemplated under the agreement dated 23 October 2020 (as supplemented and amended from time to time) entered into between Hou Maohua (侯茂華) as vendor, Shanghai Huijiu Energy Technology Limited (上海匯玖能源科技有限公司), an indirect wholly-owned subsidiary of the Company, as purchaser, and Nantong Zhuosheng Petrochemical Co., Ltd. (南通焯晟石 油化工有限公司) (the "Target Company") (the "Acquisition Agreement", a copy of which is produced to the meeting marked "A" and initialled by the chairman for the purpose of identification) in respect of the acquisition of 50.46% equity interest in the Target Company, a company established in the People's Republic of China, for a total consideration of RMB132.8 million be and are hereby approved; and the directors of the Company be and are hereby authorised to take all actions and execute all documents which they deem necessary, desirable or appropriate in order to implement or give effect to the Acquisition Agreement and otherwise in connection with the implementation of the transactions contemplated thereunder, including without limitation, the execution, amendment, supplement, delivery, waiver, submission and implementation of any further documents or agreements and/or waiver of any terms thereunder."

By order of the Board

China Huarong Energy Company Limited

CHEN Qiang

Chairman

Hong Kong, 24 December 2020

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Notes:

1. A form of proxy to be used for the meeting is enclosed.
2. Any member of the Company entitled to attend and vote at the EGM of the Company shall be entitled to appoint another person as his proxy to attend and vote instead of him. A member of the Company who is the holder of two or more shares may appoint more than one proxy to represent him and vote on his behalf at the meeting. A proxy need not be a member of the Company. In addition, a proxy or proxies representing either a member of the Company who is an individual or a member of the Company shall be entitled to exercise the same powers which he or they represent as such member of the Company could exercise.
3. The instrument appointing a proxy shall be in writing under the head of the appointor or of his attorney duly authorised to sign such instrument of proxy on behalf of the corporation without further evidence of the fact.
4. To be valid, the form of proxy together with the power of attorney or other authority if any, under which it is signed, or a notarially certified copy thereof must be deposited at the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, not less than 48 hours before the time fixed for holding the meeting or adjournment thereof (as the case may be).
5. Delivery of an instrument appointing a proxy shall not preclude a member from attending and voting in person at the meeting convened and in such event, the instrument appointing a proxy shall be deemed to be revoked.
6. The register of members of the Company will be closed from Tuesday, 12 January 2021 to Friday, 15 January 2021 (both days inclusive) for determining the identity of the Shareholders who are entitled to attend and vote at the EGM. No transfers of shares of the Company will be registered during this period. Shareholders whose name appear on the register of members of the Company on Friday, 15 January 2021 shall be entitled to attend and vote at the EGM, unregistered holders of the shares of the Company should ensure that all transfer forms accompanied by the relevant share certificates must be lodged with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712−1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong for registration no later than 4:30 p.m. on Monday, 11 January 2021.
7. Where there are joint holders of any share, any one of such joint holders may vote, either in person or by proxy, in respect of such share as if he were solely entitled thereto, but if more than one of such joint holders be present at any meeting the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders, and for this purpose seniority shall be determined by the order in which the names stand in the register of members of the Company in respect of the joint holding.

As at the date of this notice, the Directors of the Company are:

Executive Directors:

Mr. CHEN Qiang (Chairman), Mr. HONG Liang, Ms. ZHU Wen Hua and Mr. NIU Jianmin.

Independent non-executive Directors:

Mr. WANG Jin Lian, Ms. ZHOU Zhan and Mr. LAM Cheung Mau.

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