POSTING OF "WPIP" ON HKEx WEBSITE AND RECORD DATE
July 26 2010 - 5:12AM
UK Regulatory
TIDMWCC
RNS Number : 9087P
West China Cement Limited
26 July 2010
West China Cement
POSTING OF "WPIP" ON HKEx WEBSITE AND RECORD DATE
26 July 2010
West China Cement ("WCC" or the "Company"), a leading cement producer in Shaanxi
province, is pleased to announce that, further to our announcement on 23 July
2010, it has posted the web proof information pack ("WPIP") on the website of
the Hong Kong Stock Exchange ('HKEx') at
www.hkexnews.hk/reports/prelist/wpip_co_list.htm and on the Company's website at
www.westchinacement.com in the investor relations section.
The Company would also like to announce that it has set the record date (the
"Record Date") in connection with its listing on the Hong Kong Stock Exchange
(the 'Hong Kong Listing') and De-Listing from AIM ("De-Listing") .The Record
Date will be 10 August 2010.
At the Extraordinary General Meeting ("EGM") held on 20 July 2010, shareholders
approved resolutions, amongst others, to renew the authority granted by the
shareholders for the De-Listing of the Company from AIM. The EGM resolution to
approve the De-Listing allow the De-Listing to occur within a three month period
from20th July 2010 until 20th October 2010. The timing of the De-Listing is
contingent upon the timing of the Hong KongListing, which is subject to
fulfilment of certain conditions, and the Hong Kong Listing will occur on the
first trading day on the HKEx following the last day of trading of the Company's
shares on AIM. The Hong Kong Listing is subject, inter alia, to the HKEx
confirming no further comments on the prospectus of the Company and granting
formal listing approval. The Company will make an appropriate announcement and
the final dates will be announced not less than ten clear business days in
advance of the relevant date.
DISPATCH OF HONG KONG SHARE CERTIFICATES
HKEx tradable share certificates registered on WCC's Hong Kong share register
will be sent out to shareholders to their address as set out on WCC's Jersey
share register as at the Record Date and the new Hong Kong share certificates
will be dispatched to such registered shareholders ("Record Date Shareholders")
on the day before trading commences on the HKEx.
Shareholders are requested to return their Jersey share certificates to WCC's
share registrar, Computershare Investor Services (Jersey) Limited (Miss Sonia
Cadwallader, Computershare Investor Services (Jersey) Limited, 31 Pier Road, St
Helier, Jersey JE4 8PW) on or before 5pm 16th August 2010. Jersey registered
share certificates will become void upon delisting and will be replaced with
Hong Kong registered share certificates as set out above. The crucial element of
investors' share registration is that their details are correctly entered onto
the Jersey Share Register in advance of the record date.
RECOMMENDATION NOT TO TRADE SHARES IN LONDON AFTER THE RECORD DATE
While trading is possible between the Record Date and De-Listing, such trading
is not recommended by the Company and its registrars. Any trades which occur
after the Record Date, and any trades which occur before the Record Date but
which are not reflected in the Jersey share register as at the Record Date, will
need to be settled in materialised form by delivering Hong Kong share
certificates (and share transfer forms signed by the selling shareholder as the
transferor) to the purchaser or other transferee or to the bank, the licensed
securities dealer or other agent through whom the sale or transfer was effected
for transmission to the purchaser or transferee. This means that it will not be
possible to settle such trades until at least the day before trading commences
on the HKEx when the Hong Kong share certificates are issued to Record Date
Shareholders. This could result in a significant delay in settlement times for
such trades and, for this reason, the Company does not recommend trading at
these times. The Company and its registrar accept no liability for any loss
arising from any such delay in settlement or otherwise arising in connection
with any of the settlement arrangement provided herein.
Shares traded before the Record Date are settled on a T + 3 basis and thus the
purchasers conducting a trade within 3 business days before the Record Date may
not be able to receive the Hong Kong share certificates which will be sent to
the Record Date Shareholders.
FASTEST SHARE COLLECTION METHODS
In order to ensure that shares are available for trading in Hong Kong as quickly
as possible, we advise shareholders to contact their stockbroker and/or Nominee
account holder and to refer to the process set out below.
HKEx tradeable share certificates will be sent out by post one Hong Kong
Business Day immediately prior to the Listing Date. Hong Kong share certificates
despatched by post may not reach Record Date Shareholders on the Listing Date,
especially if these Record Date Shareholders have addresses in the UK. For
shares to be available for trading and settlement on the HKEx, share
certificates must be deposited in the Hong Kong Central Clearing and Settlement
System (CCASS). The Company has been advised by Global Custody Agents that the
fastest method to deposit the shares into CCASS is to re-register the shares
from UK Nominee accounts into the UK Nominee's Hong Kong Global Custody Agent's
Nominee account before the record date. This will allow the Hong Kong Custody
Agent to deposit the shares into CCASS on behalf of your UK Nominee. This method
will allow share certificates to be sent directly to a Global Custody Agent in
Hong Kong and minimise delivery times.
Your stockbroker and/or Nominee should have details of this process. A document
with a full explanation of the steps involved is available on the Company
website at the following link:
http://www.westchinacement.com/downloads/en/ann100723a.pdf
We suggest shareholders forward this document to their stockbroker and/or
Nominee. The Company has been working very closely with its Registrars and Hong
Kong Global Custody Agents to ensure the fastest possible HKEx tradeable share
registration and deposit process.
Alternatively, Record Date shareholders may collect their Hong Kong share
certificates in person from the Hong Kong Share Registrar (Address:
Computershare Hong Kong Investor Services Limited, Shops 1712-1716, 17th Floor,
Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong). Shareholders should
contact the Hong Kong Share Registrar by email no later than three Hong Kong
Business Days before the Listing Date at the following address:
hkinfo@computershare.com.hk specifying the subject as "Collection of WCC Hong
Kong share certificates".
Individuals who opt for personal collection can appoint a third party to make
collections on their behalf. The appointed third party must present an original
authorisation letter, signed by the registered shareholder, stating the
collecting person's name and ID details (HKID or Passport). Corporate
Shareholders opting for personal collection must appoint an authorised
representatives bearing a letter of authorisation from their corporation stamped
with their corporations' chop. Both individuals and authorised representatives
must produce, at the time of collection, evidence of identity acceptable to the
Hong Kong Share Registrar (Hong Kong ID or Passport). Record Date Shareholders
who have requested for personal collection but do not collect their Hong Kong
share certificates personally on the collection day (being the day before the
Listing Date between 9am and 430pm), will have their Hong Kong share
certificates despatched to them by post on the next working day at their own
risk.
For further information, please contact:
West China Cement Limited
Po Ling Low, Tel: +86 139 1088 6649
Anthony Schindler, Tel: +44 7710 1789 28
NCB Stockbrokers Limited
Christopher Caldwell, Tel: +44 20 7071 5200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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