Pingmei Coal Group's parent firm extends share pledge

China Pingmei Shenma Group, the controlling shareholder of Pingdingshan Tianan Coal Mining (SSE:601666), has announced an extension to the maturity date of its existing share pledge. The pledge involves 640 million shares, representing 25.84% of Pingmei Coal's total share capital and 55.59% of the Group's holdings in the company. The shares are pledged to the Henan Pingmei Shenma Group Industrial Transformation and Development Fund. The fund, established in 2018 with a term lasting until 2027, is primarily used to repay the Group's interest-bearing liabilities. The original maturity date of the share pledge was set for December 21, 2023, which has been extended to December 21, 2026. The announcement assures investors that the share pledge is for non-financing guarantee purposes and does not pose a risk of a change in control of Pingmei Coal.