China: Shanshui Cement turn down share disposal offer

China: Shanshui Cement turn down share disposal offer
Published: 30 July 2015


Shanshui Cement's chairman and general manager, Zhang Bin, has told the press that in response to the possible acquisition of company shares from CNBM and Asia Cement China, company shareholders have decided to decline the proposed disposal of shares. 

China Tianrui became the substantial shareholder of Shanshui Cement in April and proposed a change in the number of members in the board of directors. Afterwards, Asia Cement China and CNBM sent a letter and proposed for the entire acquisition of Shanshui Cement shares.

Zhang Bin said that the company has made great efforts in communicating with China Tianrui and will try its best to resume the trading of shares. However, the company has no intention of repurchasing shares from China Tianrui.