On February 21, China Fortune Land Development Co.Ltd(600340) (hereinafter referred to as ” China Fortune Land Development Co.Ltd(600340) “) issued an announcement on the plan of passive reduction of shares by centralized bidding of controlling shareholders, saying that the company received the notice from the controlling shareholder China Fortune Land Development Co.Ltd(600340) Jiye Holding Co., Ltd. (hereinafter referred to as “Huaxia holding”), “Financial institutions related to Huaxia holding’s financing business” intend to implement compulsory disposal procedures for the company’s shares held by Huaxia holding according to relevant agreements.
According to the announcement, within 180 days after 15 trading days from the date of disclosure of this announcement (i.e. from March 15 to September 10, 2022), Huaxia holdings can handle the default of the underlying securities through centralized bidding at the stock exchange, and can dispose (reduce) no more than 78.2744 million shares (Accounting for 2% of the current total share capital of the company) in accordance with relevant laws and regulations, The reduction price shall be implemented according to the market price.
As of February 21, Huaxia holdings held 785 million shares, accounting for 20.05% of China Fortune Land Development Co.Ltd(600340) current total share capital of 3.914 billion shares; Huaxia holdings and its persons acting in concert hold 831 million shares in total, accounting for 21.23% of the current total share capital of China Fortune Land Development Co.Ltd(600340) .
In addition, as of February 21, the cumulative pledge of China Fortune Land Development Co.Ltd(600340) shares held by Huaxia holdings amounted to 451 million shares, accounting for 57.49% of its shares and 11.53% of the total share capital of China Fortune Land Development Co.Ltd(600340) ; Huaxia holdings and its persons acting in concert held 497 million shares in total, accounting for 12.71% of the total share capital of China Fortune Land Development Co.Ltd(600340) .
