Securities code: 601916 securities abbreviation: China Zheshang Bank Co.Ltd(601916) Announcement No.: 2022-008 China Zheshang Bank Co.Ltd(601916)
Announcement on the proposed redemption of overseas preferred shares
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
On March 29, 2017, China Zheshang Bank Co.Ltd(601916) (hereinafter referred to as “the company”) successfully issued US $2.175 billion of overseas preferred shares (hereinafter referred to as “overseas preferred shares”). On December 17, 2021, the third extraordinary meeting of the sixth board of directors of the company in 2021 deliberated and adopted the proposal on redemption of overseas preferred shares, agreed to redeem all US $2.175 billion of overseas preferred shares, and authorized the chairman, President or secretary of the board of directors to jointly or separately handle the redemption of overseas preferred shares (hereinafter referred to as “this redemption”). The proposal has 14 valid votes, including 14 in favor, 0 against and 0 abstention. In view of the uncertainty of this redemption, the company suspended the disclosure in accordance with the self regulatory guidelines for listed companies of Shanghai Stock Exchange No. 2 – management of information disclosure affairs and the measures for the administration of suspension and exemption of China Zheshang Bank Co.Ltd(601916) information disclosure after careful judgment.
Recently, the company received a reply from Bank Of China Limited(601988) Insurance Regulatory Commission (hereinafter referred to as “China Banking and Insurance Regulatory Commission”), which has no objection to the company’s redemption of US $2.175 billion non cumulative perpetual overseas preferred shares issued on March 29, 2017.
Subsequently, the company will handle other application procedures for this redemption with relevant regulatory authorities in accordance with relevant laws and regulations, the articles of association and the requirements of the company’s overseas preferred stock issuance documents, timely fulfill the obligation of information disclosure, and plan to redeem on March 29, 2022.
It is hereby announced.
China Zheshang Bank Co.Ltd(601916) board of directors January 25, 2022
