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Haikong B Shares: Announcement on the Detention and Pledge of Controlling Shareholders' Shares

March 14, 2019 09:13
source: Eastern Fortune Network

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Hainan Airlines Holdings Co., Ltd. (hereinafter referred to as "the company" or "the company") received the company's holding on March 13, 2019.shareholderDaxinhua Airlines Co., Ltd. (hereinafter referred to as "Da Xinhua Airlines") notified that Grand China Airlines handled the unrestricted shares of the company held by the company.PledgeAnd continue the sequel, the relevant pledge registration procedures have been completed in China Securities Depository and Clearing Co., Ltd. (hereinafter referred to as "Zhongdeng Company"), will now be relevantannouncementas follows:

I. The specific situation of the stock pledge

(1) Pledgor: Daxinhua Airlines Co., Ltd.

(2) The time of pledge, the number of pledged shares, the pledgee and the proportion of the company's total share capital:

On March 11, 2019, Grand China Airlines pledges its 60 million unrestricted shares outstanding to China Galaxy Securities Co., Ltd. and will re-sell 60 million shares of unrestricted shares on March 12, 2019. Pledged to China Galaxy Securities Co., Ltd., accounting for 0.36% of the company's total share capital.

(3) Nature of pledged shares: unrestricted shares outstanding

(4) Pledge period: from March 12, 2019 to March 12, 2020

(V) As of the date of this announcement, Grand China Airlines holds 4,080,167,580 shares of the Company, representing 24.28% of the total share capital of the Company. At present, it has accumulated a total of 4,079,032,301 shares, accounting for 24.27% of the company's total share capital, accounting for 99.97% of the total shares held by Grand China Airlines.

Second, the purpose of the pledge of the shares

The pledge of the shares of Grand China Airlines is mainly to meet the company's operational capital needs.

Third, the ability to repay funds and related arrangements

The sources of repayment of funds by Grand China Airlines are mainly stock dividends and investment income. Daxinhua Airlines has a stable financial position, good credit status and strong ability to perform.

4. Possible risks and countermeasures

Daxinhua Airlines has a good credit standing and strong ability to perform. At present, the above pledge risks are controllable, there is no possibility of liquidation or forced liquidation, and there are no substantial factors that may cause the actual control of the company to change. In the event of subsequent risks, Grand China Airlines will respond to measures including, but not limited to, supplementary pledges, margin calls, and early repayments.

In the event of other major changes in the above pledge, the Company will promptly disclose relevant information in accordance with relevant regulations, and investors are advised to pay attention to investment risks.

Special announcement

Hainan Airlines Holdings Co., Ltd.

Board of Directors

March 14, 2009

                (Editor: DF358)

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