Shenyang Coal Trade Group to transfer its 7.35% stake in Hongyang Energy to Liaoning Energy
2020-02-14 18:34:46 [Print]
On the evening of February 10, Liaoning Hongyang Energy Investment Co., Ltd. announced that on February 8, 2020, Shenyang Coal Trade Group and Liaoning Energy Investment Group Co., Ltd. re-signed the Share Transfer Agreement. The two companies firstly signed the agreement on March 18, 2019. At that time, Shenyang Coal Trade Group intended to transfer its 97.23 milllion shares of Hongyang Energy to Liaoning energy through a non-public agreement, which was approved by the State-owned Assets Supervision and Administration Commission of Liaoning Province on March 19, 2019. However, the transfer of the shares could not be implemented because of the fact that 95.05 million of the transferred shares were restricted stocks. On January 10, 2020, all shares of Hongyang energy held by Shenyang Coal Trade Group have been listed and circulated, and the transfer of shares is qualified for implementation.
Liaoning Hongyang Energy mainly engages in the production and sales of coal and power, urban heating and the supply of industrial steam. The company owns six coal mines, and the verified annual production capacity of coal reaches 9.8 million tons.
After the transfer of shares, Shenyang Coal Trade Group holds 524 million shares of Hongyang Energy, accounting for 39.61% of the total share capital of the latter. Liaoning holds 97.23 million or 7.35% shares of Hongyang Energy's total share capital, making it the fourth largest shareholder of the latter.
Liaoning Hongyang Energy mainly engages in the production and sales of coal and power, urban heating and the supply of industrial steam. The company owns six coal mines, and the verified annual production capacity of coal reaches 9.8 million tons.
After the transfer of shares, Shenyang Coal Trade Group holds 524 million shares of Hongyang Energy, accounting for 39.61% of the total share capital of the latter. Liaoning holds 97.23 million or 7.35% shares of Hongyang Energy's total share capital, making it the fourth largest shareholder of the latter.
