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.
(Incorporated in Bermuda with limited liability) (Stock Code: 00152) MAJOR TRANSACTION | 深 圳 高 速 公 路 股 份 有 限 公 司 SHENZHEN EXPRESSWAY COMPANY LIMITED (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 00548) VERY SUBSTANTIAL DISPOSAL |
- THE TOLL ADJUSTMENT AND COMPENSATION ARRANGEMENTS REGARDING NANGUANG EXPRESSWAY, YANPAI EXPRESSWAY AND YANBA EXPRESSWAY FOR SHENZHEN EXPRESSWAY;
- THE TOLL ADJUSTMENT AND COMPENSATION ARRANGEMENTS REGARDING LONGDA EXPRESSWAY, NANGUANG EXPRESSWAY,
Reference is made to the joint announcement of Shenzhen International Holdings Limited ("SZ International") and Shenzhen Expressway Company Limited ("SZ Expressway", a 50.889%-owned subsidiary of SZ International) dated 2 December 2015 (the "Joint Announcement") and the circular of each of SZ International and SZ Expressway dated 12 January 2016 in relation to the toll adjustment and compensation arrangement regarding Nanguang Expressway, Yanpai Expressway, Yanba Expressway and Longda Expressway (for SZ International only). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as defined in the Joint Announcement.
In December 2015, SZ Expressway received the first payment of RMB6,588,000,000 from the Transport Commission as agreed under the Three Expressways Adjustment Agreement and Longda Company (a subsidiary of SZ International) received the first payment of RMB3,125,000,000 from the Transport Commission as agreed under the Longda Adjustment Agreement. The respective balance of the compensation, relevant taxes, any settlement balance and all interests accrued shall be paid as agreed under the Three Expressways Adjustment Agreement and the Longda Adjustment Agreement.
In January 2016, the shareholders' approval of each of SZ International and SZ Expressway has been obtained for the Three Expressways Adjustment Agreement and the shareholders' approval of SZ International has been obtained for the Longda Adjustment Agreement. Accordingly, all conditions precedent for the effectiveness of each of the Three Expressways Adjustment Agreement and the Longda Adjustment Agreement have been satisfied.
Pursuant to the Three Expressways Adjustment Agreement and the Longda Adjustment Agreement, Nanguang Expressway, Yanpai Expressway, Yanba Expressway and Longda Shenzhen Section (namely, the 23.8 km section of Longda Expressway from the starting point of Longda Expressway to the Nanguang ramp) will be operated by card access and the toll of such expressways will be exempted commencing from 00:00 on 7 February 2016.
By Order of the Board | By Order of the Board |
Shenzhen International Holdings Limited | Shenzhen Expressway Company Limited |
Gao Lei | Hu Wei |
Chairman | Chairman |
Shenzhen, PRC, 1 February 2016
Shenzhen International Holdings Ltd. issued this content on 01 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 February 2016 11:24:10 UTC
Original Document: http://www.szihl.com/uploadfiles/2016/02/201602011815251525.pdf