Wanxiang Qianchao Announce Equity Division Scheme

Resource from: cbcc-yinx Likes:2942

Apr 14,2006

March 13, Wanxiang Qianchao Bearing Stock Co.,Ltd announced their Equity Division Scheme. Details are as following: During the equity division, every 10 of the A-Float shareholder's holding shares will grant them 2 more float. Non-float share of Wanxiang Group, the largest shareholder of Qianchao Bearing, will all change to float but can not be traded in securities exchange in 36 months after that change. If Wanxiang Group broke their promise and traded their holding shares within the limited time, all trading income should belong to Qianchao Bearing. It is estimated that Wanxiang Group's holding share in Qianchao Bearing will be diluted from 58.52% to 51.62% after this equity division.

(cbcc-yinx)

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