Hong Kong Stock 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.
ZHEJIANG EXPRESSWAY CO. LTD.
(A joint stock limited company incorporated in
the People's Republic of China
with limited liability)
(Stock code: 0576)
CSRC APPROVAL OF
THE
PROPOSED SPIN-OFF AND SEPARATE LISTING OF THE SPINCO ON
THE SHANGHAI STOCK
EXCHANGE
The announcement is made by the Board
of the Company pursuant to Rule 13.09(2) of the Listing Rules and
the inside information provisions under Part XIVA of the Securities
and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the announcement
of the Company dated 7 May 2013 (the
"Announcement") in relation to the Proposed Spin-off of
Zheshang Securities Co., Ltd., an indirectly owned subsidiary
of the Company (the "SpinCo"), by way of separate A shares
listing (the "A Share Listing") of the SpinCo on the
Shanghai Stock Exchange. Terms defined in the Announcement shall
have the same meanings herein, unless the context otherwise
requires.
The Board is pleased to announce that
on 2 May 2017, the SpinCo obtained
the CSRC's approval in respect of the A Share Listing.
As at the date of this announcement,
the final offering size, the issue price and other details of the A
Share Listing have yet to be finalised.
Further announcement will be made by
the Company as and when appropriate in respect of the details and
any material development in relation to the Proposed Spin-off.
Shareholders
and public investors should note that there is no assurance as to
whether or when the Proposed Spin-off will complete. As the
Proposed Spin-off may or may not complete, the Shareholders and
public investors are advised to exercise caution when dealing in
the securities of the Company.
On behalf of the
Board
Zhejiang Expressway Co., Ltd.
ZHAN Xiaozhang
Chairman
Hangzhou, the PRC, 2 May 2017
As at the date of this announcement, the executive
directors of the Company are: Mr. ZHAN
Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the
non-executive directors of the Company are: Mr. WANG Dongjie, Mr.
DAI Benmeng, and Mr. ZHOU Jianping;
and the independent non-executive directors of the Company are: Mr.
ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.