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Sinochem International Is Selected Pilot Enterprise of the Equity Disposal Reform

Date:2005-07-20 Source:Sinochem Group
According to the Several Opinions on Advancing the Reform, Opening-up and Stable Development of the Capital Market of the State Council, the Notice on Issues Related with the Pilot Reform of Equity Disposal of Listed Companies and the Notice on Issues Related with the Second Round Pilot Reform of Equity Disposal of Listed Companies of the Chinese Securities Regulatory Commission and other documents, Sinochem International was selected pilot enterprise of the equity disposal reform.

In line with the principle that the shareholders of listed company select through consultations and decide independently the solution of the equity disposal and according to the Guidance of Business Operation of Pilot Reform of Equity Disposal of Listed Companies, it is approved that the listing of Sinochem International should suspend from June 20 until the next day that its Board of Directors issues the public notice on the equity disposal reform plan.

During the suspension Sinochem International will widely solicit the opinions of negotiable shareholders and hold the BOD meeting to discuss the reform plan.