Asia Cement (China): Privatization Fails

2024-08-27 17:04:35

The listing of the Shares on the Hong Kong Stock Exchange will not be withdrawn and the register of members of the Company will not be closed with effect from Wednesday, 4 September 2024 for the purpose of determining the entitlements of the Scheme Shareholders under the Scheme.

On the evening of August

26, Asia Cement (China) and Asia Cement Co., Ltd. jointly announced the proposal to privatize Asia Cement (China) Holding Company by agreement arrangement by Asia Cement Co., Ltd. in accordance with Article 86 of the Company Law. As the Scheme has not been approved at the Court Meeting in accordance with the requirements of the Companies Law and the Takeovers Code, the Proposal and the Scheme have lapsed and the Proposal will not be implemented and the Scheme will not become effective. The listing of the

Shares on the Hong Kong Stock Exchange will not be withdrawn and the register of members of the Company will not be closed with effect from Wednesday, 4 September 2024 for the purpose of determining the entitlements of the Scheme Shareholders under the Scheme.

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Correlation

Asia Cement (China): Privatization Fails

2024-08-27 17:04:35

CEMPI

102.52

+0.29 +0.28%

CONCPI

86.76

+0.11 +0.13%

CLKPI

105.87

+0.60 +0.57%

SPPI

42.11

+0.13 +0.31%

MORPI

71.86

+0.03 +0.04%

Clinker production capacity increased to about 3.2 million tons, and the environmental impact assessment of the technical transformation project of Huizhou Tapai Cement was approved.

Recently, the Department of Ecology and Environment of Guangdong Province issued the Reply and Announcement of the Department of Ecology and Environment of Guangdong Province on the Eco-environmental Impact Report of the Energy-saving and Environmental Protection Technical Reform Project of Huizhou Tapai Cement Co., Ltd. The project does not change the main equipment of the cement kiln, but improves the production capacity of cement clinker through partial transformation, replacement of auxiliary equipment and energy-saving and environmental protection transformation. After the implementation of the project, the production capacity of the two cement clinker production lines will be 2 × 5,333 tons/day, with an annual output of 300 days and an annual output of 2 × 1,599,900 tons of cement clinker; the production capacity of the cement grinding system will be increased to 4.2 million tons/year.