Stock Codes: 600801, 900933 Stock abbreviations: Huaxin Cement, Huaxin B Share Ref: Lin 2012-012
Huaxin Cement Co., Ltd.
To the best of our knowledge, the Board of Directors of the Company and its members confirm that there is no material false or misleading statement or material omission in this announcement and shall be severally and jointly liable for the truthfulness, accuracy and completeness of its content.
I. Overview on Changing the Projects of the Private Placement
1. Basic information of the raised funds
Approved by Document Zheng Jian Xu Ke [2011] No.1299 issued by the CSRC, Huaxin Cement Co., Ltd. (hereinafter referred to as “the Company”) made the private placement of RMB ordinary shares (A share) in amount of 128,099,928 shares with the face value of 1Yuan per share on October 31, 2011. The issuing price was 14.01 Yuan per share. According to the Report on Capital Verification (PricewaterhouseCoopers Zhong Tian Yan Zi (2011) No. 323) issued by PricewaterhouseCoopers Zhong Tian CPAs Limited Company, the total raised funds from the private placement was1,794,679,991 Yuan. The net amount of the raised funds was 1,742,887,551 Yuan minus underwriting fee and other transaction fees of 51,792,440 Yuan.
The investment projects which use the funds raised by this private placement include: 719,870 k Yuan investment in 15 cement kiln pure low temperature waste heat power generation projects, 455,810 k Yuan investment in 25 RMX station projects, 159,000 k Yuan investment in 1 aggregate production line project and 460,000 k Yuan for repaying loans of the Company.
2. Actual use of the raised funds for the projects which are planned to be changed
Considering the government planning and changes in market conditions, in order to ensure the timely, effective and reasonable use of the raised funds from the private placement and according to the “Administrative Rules on Raised Funds of Listed Companies” of Shanghai Stock Exchange and “Administrative Rules on Storage and Use of Raised Funds" of the Company, after deliberation, the Company plans no longer use the raised funds to construct 10 RMX projects including Dongchuan, Fuling, Jiangling, Xuanen, Dawu, Luoshan, Daoxian, Chenzhou, Hefeng, and Zhuzhou.
As at March 31, 2012, use of the raised funds for the aforesaid 10 RMX projects is as follows:
|
No |
Project |
Abbreviation |
|
Actual use of the raised funds (0000 Yuan) |
Unused raised funds (0000 Yuan) |
|
1 |
Yunnan Dongchuan 200 km3/y RMX Station Project |
Dongchuan RMX |
1,669.00 |
281.23 |
1,387.77 |
|
2 |
Chongqing Fuling 300 km3/y RMX Station Project |
Fuling RMX |
1,815.00 |
0.00 |
1,815.00 |
|
3 |
Hubei Jiangling 200 km3/y RMX Station Project |
Jiangling RMX |
1,831.00 |
0.00 |
1,831.00 |
|
4 |
Hubei Xuanen 200 km3/y RMX Station Project |
Yuanen RMX |
2,026.00 |
387.20 |
1,638.80 |
|
5 |
Hubei Dawu 200 km3/y RMX Station Project |
Dawu RMX |
1,993.00 |
0.00 |
1,993.00 |
|
6 |
Henan Luoshan 200 km3/y RMX Station Project |
Luoshan RMX |
1,831.00 |
0.00 |
1,831.00 |
|
7 |
Hunan Daoxian 200 km3/y RMX Station Project |
Daoxian RMX |
1,564.00 |
272.86 |
1,291.14 |
|
8 |
Hunan Chenzhou 200 km3/y RMX Station Project |
Chenzhou RMX |
1,699.00 |
49.65 |
1,649.35 |
|
9 |
Hubei Hefeng 200 km3/y RMX Station Project |
Hefeng RMX |
1,752.00 |
0.00 |
1,752.00 |
|
10 |
Hunan Zhuzhou 200 km3/y RMX Station Project |
Zhuzhou RMX |
2,067.00 |
0.00 |
2,067.00 |
|
Total |
18,247.00 |
990.94 |
17,256.06 |
The raised funds used in the above projects are mainly for obtaining the state-owne
