Shareholders of COSCO International Approved the Disposal Mandate of Sino-Ocean Lands Shares
On 30th September 2010, COSCO International held a special general meeting ("SGM") at which shareholders of the Company approved the resolutions in relation to the disposal mandate proposed by the Company to authorize its directors to dispose of all shares in Sino-Ocean Land Holdings Limited ("SOLHL") (equivalent to 949,937,399 shares)held by the Company at anytime in the forthcoming twelve months. During the mandate period, COSCO International can sell SOLHL's shares to independent third parties by entering into placing agreement with the placing agent or in the open market. The proceeds of the disposal will be used to finance future development of the Company's core shipping services business, including mergers and acquisitions relating to COSCO Group or non-COSCO Group.
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Updated Time: 2010/10/12
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