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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Beijing Capital Land Limited    2868   CNE100000239

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Beijing Capital Land : RESULT OF THE EXTRAORDINARY GENERAL MEETING HELD ON 22 MAY 2017

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05/22/2017 | 04:27pm CEST

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.

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

(Stock Code: 2868) RESULT OF THE EXTRAORDINARY GENERAL MEETING HELD ON 22 MAY 2017

Reference is made to the announcement of Beijing Capital Land Ltd. (the "Company") date 20 February 2017 (the "Announcement") and the circular of the Company dated 4 May 2017 (the "Circular") in respect of, inter alia, that on 20 February 2017, the Company, Capital Securities and the Custodian Bank entered into Supplemental Agreement. Unless the context otherwise required, terms used in this announcement shall have the same meanings as defined in the Announcement and Circular.

The EGM was held at F17, Red Goldage, No. 2, Guang Ning Bo Street, Beijing, PRC at 9:00 a.m. on 22 May 2017.

There were a total of 3,027,960,000 shares of the Company (the "Shares") entitled to attend the EGM. Prior to the EGM, the Company has received written replies from Shareholders representing a total of 3,016,350,686 Shares (approximately 99.62% of the total issued share capital of the Company) indicating that they would attend the EGM. This shareholding proportion is in compliance with the requirements of the Company Law of the PRC and the Articles. Shareholders and authorized proxies holding an aggregate of 2,212,127,643 Shares, representing 73.06% of the total issued share capital of the Company, were present at the EGM.

PricewaterhouseCoopers Zhong Tian LLP, the auditors of the Company, was appointed as the scrutineer at the EGM for the purpose of vote-taking.

The following resolution was considered and duly passed by the Shareholders at the EGM by way of poll. Shareholders and authorized proxies representing of 204,923,643 Shares casted their votes on the resolution at the EGM.

The poll result of the ordinary resolution is as follow:

ORDINARY RESOLUTION*

Number of votes (%)

For

Against

1

To approve, confirm and ratify the Supplemental Agreement, the terms and conditions thereof and transactions contemplated thereunder (including the proposed Annual Caps)

202,999,643

(99.06%)

1,924,000

(0.94%)

As more than half of the votes were cast in favour of this resolution, the resolution was duly passed as an ordinary resolution.

* The full text of the resolutions are set out in the notice of the EGM dated 4 May 2017.

As disclosed in the Circular, Capital Group and its associates, namely China Resource Products Limited and Yieldwell International Enterprise Limited, which held an aggregate of 2,007,204,000 Shares (approximately 66.29% of the total issued share capital of the Company) as at the date of the EGM, were required to abstain, and have so abstained from voting on the resolutions at the EGM. Accordingly, Shareholders representing a total of 1,020,756,000 Shares were entitled to vote for or against the resolutions at the EGM. None of the Shareholder was entitled to attend and vote only against the resolutions at the EGM.

By Order of the Board

Beijing Capital Land Ltd. Lee Sze Wai

Company Secretary

Hong Kong, 22 May 2017

The Board as of the date of this announcement comprises Mr. Li Songping (Chairman) who is Non-Executive Director, Mr. Tang Jun (President) who is the Executive Director, Ms. Sun Baojie, Mr. Sun Shaolin, Mr. Su Jian and Mr. Yang Weibin who are the Non-Executive Directors, and Mr. Wang Hong, Mr. Li Wang and Mr. Wong Yik Chung, John who are the Independent Non-Executive Directors.

Beijing Capital Land Limited published this content on 22 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 May 2017 14:27:09 UTC.

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Financials ( CNY)
Sales 2017 26 006 M
EBIT 2017 4 033 M
Net income 2017 1 754 M
Debt 2017 15 987 M
Yield 2017 6,85%
P/E ratio 2017 5,22
P/E ratio 2018 3,74
EV / Sales 2017 0,97x
EV / Sales 2018 0,34x
Capitalization 9 158 M
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Mean consensus BUY
Number of Analysts 2
Average target price 4,35  CNY
Spread / Average Target 44%
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Managers
NameTitle
Jun Tang President & Executive Director
Yong Zheng Liu Chairman-Supervisory Board
Song Ping Li Chairman
Shu Bin Fan Chief Financial Officer & Vice President
Yuk Keung Ng Independent Non-Executive Director
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