Xibei Bearing Plan a Equity Division Reform

Resource from: cbcc-yinx Likes:2973

Mar 13,2006

Recently, Xibei Bearing Co.,Ltd announced their plan to practise Equity Division Reform. For there are lots of state-owned shares in Xibei Bearing, this reform will be practised after being approved by relevant state departments. It means there are possibilities that this Reform be denied. However, if it got approved and were successfully practised, Xibei Bearing Co.,Ltd's float would reach 213.604 million, including 109.147 million limited float. Non-float shares no long exist. Detail: Xibei Bearing Co.,Ltd's Equity Division will be practised by transfering capital surplus to new float. All existing shareholders of the totally 65,832,478 float will receive 5.87 new float for every 10 of their holding float. After the Equity Division Reformation Float total: 213.604 million Non-float: 0 -Float shareholders recorded before April 4 2006 will enjoy the share distribution of this Equity Division Reformation; -The company's resumption of trading on the exchange market will begin on the first trading day after the equity division; -No change to the company Stock name "Xibei Bearing" and stock code "Shenzhen exchange: 000595"

(cbcc-yinx)

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