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Peking University Resources (Holdings) Company Limited
(Incorporated in Bermuda with limited liability)
(Stock code: 00618)
NOTIFICATION LETTER FROM PEKING FOUNDER
IN RELATION TO THE COURT RULLING
FOR ACCEPTING ITS REORGANISATION
This announcement is made by Peking University Resources (Holdings) Company Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").
Reference is made to the announcement of the Company dated 18 February 2020 in relation to the notification letter from Peking University Founder Group Company Limited ("Peking Founder"), a shareholder of the Company, on its potential reorganisation. On 19 February 2020, the Company received a notification letter from Peking Founder, regarding a civil order and decision letter received by Peking Founder from The First Intermediate People's Court of Beijing (the "Court"). Pursuant to the civil order and decision letter, the Court decided to accept the application made by Bank of Beijing Co., Ltd. for the initiation of reorganisation procedure against Peking Founder, and appointed Peking Founder liquidation team as the administrator of Peking Founder. The Peking Founder liquidation team consists of People's Bank, Ministry of Education, relevant financial regulatory institutions and relevant functional departments of Beijing, etc.
The Company is independent from Peking Founder in respect of business, personnel, assets, institutions and finance, and will endeavour to ensure the stability in its operation and management. The ongoing reorganisation procedure of Pecking Founder may have an impact on the shareholding structure of the Company. The Company will closely follow the developments of this incident and comply with relevant disclosure requirements under the Listing Rules and the SFO in a timely manner.