2f37e4eb-6103-41fd-9e9d-8e811408be2a.pdf
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
OVERSEAS REGULATORY ANNOUNCEMENT
This overseas regulatory announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The following sets out the information published by Aluminum Corporation of China Limited* (the "Company") on the website of the Shanghai Stock Exchange, for your reference only.
By order of the Board
Aluminum Corporation of China Limited* Zhang Zhankui
Company Secretary
Beijing, the PRC 30 May 2016
As at the date of this announcement, the members of the Board comprise Mr. Ao Hong, Mr. Liu Xiangmin and Mr. Jiang Yinggang (Executive Directors); Mr. Yu Dehui, Mr. Liu Caiming and Mr. Wang Jun (Non-executive Directors); Ms. Chen Lijie, Mr. Hu Shihai and Mr. Lie-A-Cheong Tai Chong, David (Independent Non-executive Directors).
* For identification purpose only
Stock Code: 601600 Stock Short Name: Chalco Announcement no.: Lin 2016-030
ALUMINUM CORPORATION OF CHINA LIMITED
ANNOUNCEMENT ON THE TRANSFER OF ENVIRONMENTAL PROTECTION ASSETS
The Company and all members of the board of directors warrant the truthfulness, accuracy and completeness of the contents herein, and jointly accept responsibilities for any misrepresentation, misleading statement contained in, or material omission from this announcement.
Highlights:
The Company intends to transfer the environmental protection assets in relation to the desulfurization, denitration and dedusting of the coal-fired generating units of five subsidiaries, namely Lanzhou Branch of Aluminum Corporation of China Limited, Baotou Aluminum Co., Ltd., Shandong Huayu Alloy Materials Co., Ltd., Maliantai Power Station and Liupanshan Power Station of Chalco Ningxia Energy Group Co., Ltd., by way of public listing at China Beijing Equity Exchange.
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OVERVIEW OF THE TRANSACTION
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Main contents of the transaction
In order to optimize and deploy the existing stock assets of the Company, realize the hedging and appreciation of state-owned assets and increase shareholder's value of the Company, the Company intends to transfer the environmental protection assets in relation to the desulfurization, denitration and dedusting of the coal-fired generating units of five subsidiaries, namely Lanzhou Branch of Aluminum Corporation of China Limited ("Lanzhou Branch"), Baotou Aluminum Co., Ltd. ("Baotou Aluminum"), Shandong Huayu Alloy Materials Co., Ltd. ("Shandong Huayu"), Maliantai Power Station and Liupanshan Power Station of Chalco Ningxia Energy Group Co., Ltd. ("Chalco Ningxia Energy"), by way of public listing at China Beijing Equity Exchange.
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The progress of procedures
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On 30 May 2016, the Company convened the 34th meeting of the fifth session of the board of directors and considered and approved the Resolution on the Proposed Transfer of Certain Environmental Protection Assets of the Company to External Parties.
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This transaction is not subject to the approval at the general meeting of the Company.
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BASIC INFORMATION ON THE TARGET OF THE TRANSACTION
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Basic information
The target assets which are proposed to be transfered through public listing are the environmental protection assets in relation to the desulfurization, denitration and dedusting of the coal-fired generating units of five subsidiaries, namely Lanzhou Branch, Baotou Aluminum, Shandong Huayu, Maliantai Power Station and Liupanshan Power Station of Chalco Ningxia Energy.
The target assets are not subject to any mortgage, pledge and any other transfer restrictions nor legal proceedings such as litigation, arbitration or sealing or freezing and there are no other legal impediments to the transfer of ownership of such assets.
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Value of the target assets
The carrying value of the target assets amounts to RMB1.192 billion. The target assets were appraised by Shanghai Orient Appraisal Co., Ltd. on 31 March 2016, i.e. the benchmark date of appraisal, and the appraised value amounts to approximately RMB1.759 billion.
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MAIN CONTENTS OF TRANSACTION AGREEMENT
The transaction agreement will be duly signed with the transferee upon the completion of the public listing at China Beijing Equity Exchange and the Company will make relevant disclosure in a timely manner after the transaction agreement is duly signed.
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IMPACTS OF THIS TRANSACTION ON THE COMPANY
The transaction will help reduce the capital investments by the Company, consolidate the target of reaching the standards of environmental protection with the competitive edges of professional companies that engage in environmental protection, revitalize assets to obtain cash flow and relevant revenue so as to enhance the operational efficiency of the environmental protection assets.
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DOCUMENTS FOR REFERENCE
The Resolution of the 34th Meeting of the Fifth Session of the Board of Directors of the Company.
Announcement is hereby given.
Board of Directors
Aluminum Corporation of China Limited*
30 May 2016