Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No. 2021-23
ADAMALtd.
Announcement on the Cancellation of the Repurchased
Shares and the Subsequent Decrease of Registered
Capital and Creditor Notice
The Company and all members of its board of directors hereby confirm that all
information disclosed herein is true, accurate and complete with no false or
misleading statement or material omission.
The 26th Meeting of the 8th Session of the Board of Directors of ADAMA Ltd.
(hereinafter referred to as the “Company”) held on August 19, 2020 and the 3rd Interim
Shareholders Meeting in 2020 held on September 7, 2020 deliberated and adopted the
Repurchase Plan for Part of the Company’s Domestically Listed Foreign Shares (B
Shares) in order to protect the Company’s value and shareholders’ interests. During the
repurchase period which expired on December 6, 2020, the Company repurchased
14,309,536 B-shares from its own funds (hereinafter referred to as the “Repurchased
Shares”). The Company intends to cancel the Repurchased Shares, resulting in a
corresponding reduction of the Company’s registered capital.
The 2020 Annual General Meeting held on May 21, 2021 reviewed and approved the
Proposal on the Cancellation of the Repurchased Shares and the Subsequent Decrease of
the Registered Capital of the Company and the Proposal on Revisions to the Articles of
Association of the Company. Accordingly, the Company will cancel the Repurchased
Shares such that after their cancellation, the Company’s total share capital will be reduced
from 2,344,121,302 shares to 2,329,811,766 shares, and the registered capital will be
reduced from RMB 2,344,121,302 to RMB 2,329,811,766.
Since the cancellation of the Repurchased Shares will result in a decrease in the
registered capital, the Company hereby notifies the creditors, in accordance with the
Company Law of the People’s Republic of China (hereinafter referred to as the “the
Company Law”) and relevant laws and regulations, that within 45 days following the
issuance of this announcement, the creditors shall be entitled to demand the Company to
pay off the debts or to provide respective guarantees.
If any creditor of the Company demands the Company to pay off the debt or provide
respective guarantees, it shall submit a written request to the Company in accordance
with the relevant provisions of the Company Law and related laws and regulations and
attach relevant certification documents. Failure of the creditor to exercise the above rights
within the said time frame will not affect the validity of the creditor’s rights. The related
debts (obligations) will continue to be performed by the Company in accordance with the
original agreement relating to the creditor’s rights.
This announcement is hereby made.
The Board of Directors of ADAMA Ltd.
May 22, 2021
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