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.
(A Sino-foreign investment joint stock company limited by shares incorporated in the People's
Republic of China (the "PRC"))
(Stock Code: 1071)
Announcement in relation to Relevant Matters for Further Avoidance of Business Competition by China Huadian Corporation with Huadian Power International Corporation Limited
This is an announcement made by Huadian Power International
Corporation Limited (the "Company") pursuant to the Rule
13.09(1) and (2) of the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited.
Recently, the Company received from its controlling
shareholder, China Huadian Corporation ("China Huadian") An
Undertaking on Relevant Matters for Further Avoidance of
Business Competition by China Huadian Corporation with
Huadian Power International Corporation Limited, the
principal terms of which are set out below:
In order to support the business development of, integrate
relevant quality assets and avoid business competition with,
the Company, China Huadian had previously given a
non-competition undertaking. Relevant disclosure was made in
the prospectus for the initial public offering of A Shares of
the Company and relevant announcements or documents of the
Company.
Whilst China Huadian will continue to perform its
undertakings previously given, for further avoidance of
business competition with the Company, China Huadian further
undertakes that:
1. China Huandian shall treat the Company as the ultimate
integration platform for its conventional energy based
electricity generation assets and as its core enterprise for
developing conventional energy based electricity generation
business;
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2. With respect to its non-listed conventional energy based
electricity generation assets, China Huandian undertakes to
inject such assets into the Company in approximately 5 years
upon such assets meeting the conditions for listing and to
grant the Company the pre-emptive right to develop and
acquire conventional energy based electricity generation
projects in order to support the sustainable and stable
development of the Company.
3. China Huadian will continue to perform each of its
undertakings to support the development of its subordinated
listed companies.
By order of the board of directors
Secretary to Board
As at the date of this announcement, the board of directors
comprises:
Yun Gongmin (Chairman, Non-executive Director), Chen Feihu
(Vice Chairman, Non-executive Director), Chen Dianlu (Vice
Chairman, Non-executive Director), Chen Jianhua (Executive
Director), Wang Yingli (Non-executive Director), Chen Bin
(Non-executive Director), Zhong Tonglin (Executive Director),
Chu Yu (Non-executive Director), Wang Yuesheng (Independent
Non-executive Director), Wang Jixin (Independent
Non-executive Director), Ning Jiming (Independent
Non-executive Director) and Yang Jinguan (Independent
Non-executive Director).
Beijing, the PRC
2 February 2012
* For identification purposes only
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| Announcement in Relation to Further Avoidance of Business Competition |