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Extraordinary Announcement

Announcement on Resolutions of the Twenty Seventh Meeting of the Sixth Board of

2011-07-2714730次
Stock Codes: 600801, 900933     Stock abbreviations: Huaxin Cement, Huaxin B Share     Ref: Lin 2011-021
 
Huaxin Cement Co., Ltd.
Announcement on Resolutions of the Twenty Seventh Meeting of the Sixth Board of Directors
 
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.
 
The Twenty Seventh Meeting of the Sixth Board of Directors of Huaxin Cement Co., Ltd. (hereinafter referred to as “the Company”) was convened on July 25, 2011 in Switzerland.  In principle, there should be nine Directors be present at the Meeting, actually all of them were present.  Chairman of the Supervisory Committee and Top Management also attended the Meeting.  The Company sent the Meeting Notification to all the Directors on July 15, 2011, by personal service or by fax.  The Meeting was in compliance with the provisions contained in relevant laws, rules, regulations and the Articles of Association of the Company, thus it was legitimate and valid.
 
Through reviewing and voting, this Board Meeting adopted the following important resolution:
 
Proposal in Respect of Setting up A Chinese Joint Venture Company to Proceed with the Tajikistan Yovon Cement Project (voting result: affirmative 6, negative 3, abstention: 0).
 
The Company is proposing to construct a 2500 TPD new dry process clinker and cement production line in Tajikistan.  This project is located in Yovon city, 65km far from the capital, Dushanbe.  West Tajikistan, where the project is located is the most developed area with largest population in the country.  This project will be the first NSP project in Tajikistan.
 
In order to implement Tajikistan Yovon Cement Project, a Chinese joint venture company with investments from Huaxin Cement Co., Ltd., Huaxin Group Construction & Installation Engineering Company and Nanjing Gede Cement Technology and Engineering Company Limited will be set up in Wuhan.  Registered capital of this Joint Venture Company will be 20 million US dollars, of which Huaxin will invest 10.2 million US dollars for 51% shares, Huaxin Construction & Installation will invest 4 million US dollars for 20% shares and Nanjing Gede will invest 5.8 million US dollars for 29% shares.
 
Such Chinese Joint Venture Company will cooperate with Yovon Cement Plant to establish a Joint Venture Company in Tajikistan.  The Chinese Joint Venture Company holds 75% shareholding and Yovon Cement Plant holds 25% shareholding.  Huaxin Cement will ultimately hold 38.25% shareholding in the Joint Venture Company of Yovon Cement Project
 
The Company shall timely disclose any major progress of the above project.
 
Investors are hereby reminded of any investment risk.
 
It is herewith announced.
 
Huaxin Cement Co., Ltd.
Board of Directors
 
July 27, 2011

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