| We are pleased to announce that Shell Electric Mfg. (Holdings) Company Limited (“Listco”) (HKEx Stock Code: 81) has completed its group restructuring on 10th February, 2010. Two independent corporate groups have emerged as a result of the group restructuring: Shell Electric Holdings Limited (“SMC”) and its subsidiaries is a new corporate group carrying out manufacturing, technology, and property and taxi investments businesses; the Listco group maintains the remaining business of property investment and development in the PRC. As part of the group restructuring, SMC was spun off by way of a distribution of shares to all the shareholders of Listco and following the group restructuring China Overseas Land & Investment Limited (“COLI”) (HKEx Stock Code: 688) made a new shares investment in Listco. On 26th February, 2010, the majority shareholder of SMC and COLI commenced general cash offers respectively for the shares of SMC and Listco. |
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