Datang International Power Generation : ANNOUNCEMENT PROGRESS IN RELATION TO THE COMPLETION OF THE DISPOSAL OF COAL-TO-CHEMICAL BUSINESS SEGMENT AND PERFORMANCE OF GUARANTEE OBLIGATIONS
January 02, 2020 at 04:05 am
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(a sino-foreign joint stock limited company incorporated in the People's Republic of China)
(Stock Code: 00991)
ANNOUNCEMENT
PROGRESS IN RELATION TO THE COMPLETION OF THE
DISPOSAL OF COAL-TO-CHEMICAL
BUSINESS SEGMENT
AND
PERFORMANCE OF GUARANTEE OBLIGATIONS
Reference is made to the major and connected transaction announcement of Datang International Power Generation Co., Ltd. (the "Company" or "Datang Power") dated 30 June 2016, the circular of the Company dated 12 August 2016 (the "Circular"), and the announcements of the Company dated 28 September 2016, 6 February 2017, 24 December 2018, 4 January 2019, 28 March 2019 and 15 October 2019 regarding the progress in relation to the disposal of the coal-to-chemical business segment and the performance of guarantee obligations. Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as defined in the Circular.
The transaction under the Transfer Agreement was completed on 31 August 2016. As stated in the Circular, the Company will publish an announcement for any update on the status of the guarantee arrangement as set out in the Transfer Agreement as and when appropriate.
As disclosed in the announcement of the Company dated 24 December 2018, the Company undertook the guarantee obligations in compliance with the guarantee contracts that were previously signed and still in effect, and made a payment of approximately RMB328 million in aggregate on behalf of the controlled subsidiaries of Zhongxin Energy and Chemical on 21 December 2018.
Thereafter, as disclosed in the announcement of the Company dated 4 January 2019, the Company proactively sought repayment from Zhongxin Energy and Chemical.
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On 31 December 2019, Zhongxin Energy and Chemical has repaid the aforesaid amount to the Company.
By Order of the Board
Jiang Jinming
Company Secretary
Beijing, the PRC, 2 January 2020
As at the date of this announcement, the directors of the Company are:
Chen Feihu, Wang Sen, Wang Xin, Liang Yongpan, Ying Xuejun, Zhu Shaowen, Cao Xin, Zhao Xianguo, Zhang Ping, Jin Shengxiang, Liu Jizhen*, Feng Genfu*, Luo Zhongwei*, Liu Huangsong*, Jiang Fuxiu*
Independent non-executive directors
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DTP - Datang International Power Generation Co. Ltd. published this content on 02 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2020 09:04:12 UTC
Datang International Power Generation Co., Ltd. is a power generation company. The principal activities of the Company are power generation and power plant development in the People's Republic of China (PRC). It is also engaged in activities, including the sale of electricity and thermal power, repair and testing of power equipment, power related technical services, coal trading, chemical products manufacturing and selling, coal chemistry, transportation and recycling. The Company's segments include Power generation, Coal, Chemical and Other. The power generation businesses of the Company and its subsidiaries are primarily distributed across Beijing, Tianjin, Hebei Province, the Inner Mongolia Autonomous Region, Shanxi Province, Liaoning Province, Gansu Province, Sichuan Province and the Tibet Autonomous Region, among others. The power generation business includes coal-fired power projects, hydropower projects, photovoltaic projects and wind power projects.
Datang International Power Generation : ANNOUNCEMENT PROGRESS IN RELATION TO THE COMPLETION OF THE DISPOSAL OF COAL-TO-CHEMICAL BUSINESS SEGMENT AND PERFORMANCE OF GUARANTEE OBLIGATIONS