Pingdingshan Tianan Coal Mining announces share transfer, controlling shareholder restructuring

Pingdingshan Tianan Coal Mining Co., Ltd. announced a proposed gratuitous transfer of 2,070,202 shares from China Pingmei Shenma Group Pingdingshan Chaonchuan Mining Co., Ltd., a wholly-owned subsidiary of its controlling shareholder, to China Pingmei Shenma Holding Group Co., Ltd. This transfer will result in Pingdingshan Chaonchuan Mining no longer holding shares in the company, though the overall shareholding of Pingmei Shenma Group and its concert parties will remain unchanged at 46.62%.

Additionally, the company reported an update on the strategic restructuring of its controlling shareholder. The Henan Provincial People's Government State-owned Assets Supervision and Administration Commission (SASAC) signed a framework agreement with Henan Energy Group Co., Ltd. and China Pingmei Shenma Holding Group Co., Ltd. The agreement outlines the provincial SASAC’s plan to inject its 100% equity in Henan Energy Group into Pingmei Shenma Group, making Henan Energy Group a wholly-owned subsidiary of Pingmei Shenma Group following a fair valuation.

These actions, while subject to various regulatory approvals and procedures, do not involve a major asset restructuring of Pingdingshan Tianan Coal Mining and will not change the company's ultimate controller, the Henan Provincial SASAC. Investors are advised to be aware of potential risks due to the uncertainties surrounding the completion of these transactions.