Notic of LS's Equity Division Reformation
Resource from: cbcc-yinx Likes:2948
Feb 13,2006
After the Equity Division Reformation, LS(Fujian Longxi Bearing Group Co.,Ltd)'s float shares reached 150 million, 85 million of which are limited float shares. Non-float shares no long exist.
Detail:
-For the float shareholders, every 10 holding shares will grant them 3 more shares from the non-float shareholders; after the Equity Division Reformation, the rest shares of non-float shareholders and the shares transfered to float shareholders all become float. See the following detail of LS:
Company: LS (share transfer rate: Every 10 holding float for 3 more shares)
Non-float: 100 million Float: 50 million
During the Equity Division Reformation
Float amount: 50 + 50 x 3/10 = 65 million shares (Float)
Non-float amount: 100 - 50 x 3/10 = 85 million shares (become float)
After the Equity Division Reformation
Float total: 150 million
Non-float: 0
-Float shareholders recorded before Feb.10 2006 enjoy the share distribution of this Equity Division Reformation;
-The company's resumption of trading will begin from Feb.14 2006;
-Since Feb.14 2006, Stock name of LS become "G Longxi" stock code remain "600592"
Promise of Non-float shareholders:
1. Zhangzhou M.E. Investment Co.,Ltd promised not to transfer or trade the shares they hold in 48 months after the Equity Division Reformation;
2. Zhangzhou Pianzaihuang Group Corp. promised not to transfer or trade the shares they hold in 24 months after the Equity Division Reformation;
3. Malata Group Co.,Ltd promised not to transfer or trade the shares they hold in 24 months after the Equity Division Reformation;
4. China Engineering & Agricultural Machine Import & Export Company promised not to transfer or trade the shares they hold in 24 months after the Equity Division Reformation;
(cbcc-yinx)
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