WCC West China

 

TIDMWCC 
 
RNS Number : 6922O 
West China Cement Limited 
02 July 2010 
 
                      EGM Notice and HKEx listing Update 
 
                                  2 July 2010 
 
 
West China Cement ("WCC" or the "Company"), a leading cement producer in Shaanxi 
province, is pleased to announce that on 24 June 2010 the listing committee of 
The Stock Exchange of Hong Kong Limited (the "HKEx") considered the Company's 
application for listing of the shares of the Company on the HKEx (the "HKEx 
Listing"). 
 
The Company would also like to announce that it is seeking shareholder approval 
for certain resolutions relating to the previously announced proposed listing on 
the Stock Exchange of the Hong Kong. By way of background, on 31 March 2010 the 
Shareholders passed a resolution at the Company's Annual General Meeting to 
approve the cancellation of the admission of the Company's Ordinary Shares to 
trading on AIM (the 'De-Listing') at the same time as the proposed HKEx Listing 
becomes effective. The AGM Circular explained the background to and reasons for 
the De-Listing and the HKEx Listing, and included a statement that, in the event 
that the HKEx Listing did not occur within three months following the date of 
the AGM, the Company would seek a further shareholders' resolution to approve 
the De-Listing if the Directors still believed that it was in the best interests 
of the Company to proceed with the De-Listing and the HKEx Listing. 
 
The Directors maintain their view that it is in the best interests of the 
Company to proceed with the De-Listing and the HKEx Listing and have therefore 
convened an Extraordinary General Meeting to be held on 20 July 2010 ('EGM'). At 
the EGM, the Company is seeking shareholders' approval of, amongst others, the 
renewal of the authority granted by the shareholders for the De-Listing (the 
'De-Listing Resolution'). 
 
Subject to shareholders' approval, the resolution to approve the De-Listing will 
allow the De-Listing to occur within a three month period from 20th July 2010 
until 20th October 2010. However, it is expected that the earliest possible date 
that the HKEx Listing may occur is 6 August 2010. The timing of the De-Listing 
is contingent upon the timing of the HKEx Listing and the HKEx Listing will 
occur on the first trading day on the HKEx following the last day of trading of 
the Ordinary Shares on AIM. The HKEx Listing is subject, inter alia, to the HKEx 
confirming that is has no further comments on the HKEx Listing Document and 
granting formal listing approval.  The Company will make an appropriate 
announcement and the final dates will be confirmed not less than ten clear 
business days in advance of the relevant date. 
 
If market conditions do not favour a listing in the above period, it is likely 
that the Company will seek a further Shareholders' resolution later in the year. 
 
A circular setting out, inter alia, details of the resolutions to be proposed at 
the EGM, including (amongst other things) the De-Listing Resolution, together 
with an EGM Notice and a Proxy Form has been posted to holders of the Company's 
ordinary shares today (the "Circular"). The Circular will also be available on 
the Company's website (www.westchinacement.com) shortly. 
 
 
For further information, please contact: 
 
West China Cement Limited 
Po Ling Low, Tel: +86 139 1088 6649 
Anthony Schindler, Tel: +44 7710 1789 28 
 
NCB Stockbrokers Limited 
Christopher Caldwell, Tel: +44 20 7071 5200 
 
Citigate Dewe Rogerson Asia 
Mill Seen, Tel: +86 21 6340 4186 
 
 
Notes to Editors: 
 
West China Cement listed on the AIM of the London Stock Exchange on 4 December 
2006, raising approximately GBP20.1 million net of expenses. 
 
Prior to the AIM listing, the Company, which is headquartered in Xi'an the 
provincial capital of Shaanxi province, had operated a production facility in 
Pucheng County with annual production capacity of 1.4 million tonnes. 
 
In order to service the growing demand for cement in the region, the Company has 
expended from Pucheng County to five other counties in Shaanxi province namely, 
Lantian, Xunyang, Zhen'an, Danfeng and Yangxian. As of 31 December 2009, the 
total annual production capacity of the Company is 8.5 million tonnes. 
Currently, the Company is constructing three production facilities in Mianxian, 
Pucheng and Xixiang in Shaanxi province. On completion, the total annual 
production capacity of the Company is 11.8 million tonnes. The Company intends 
to further increase its market shares and production capacity through 
acquisitions. 
 
10 February 2010, the Company announced its application for a listing of the 
shares of the Company on the main board of The Stock Exchange of Hong Kong 
Limited. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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