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Dec 01st
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(000587) Guangming Group Furniture Co.,Ltd. A proposal to implement the company's share reform scheme has been put forward by holders of non-tradable shares of the company, representing 90.14% of all voting rights, thus exceeding the two-thirds threshold required by relevant regulations for implementation. The company has retained New Times Securities Co., Ltd. as its sponsoring institution and Wang Wei as the sponsor representative. The board of directors has submitted a report regarding its share reform and other related documents to the People's Government of Yichun City. Discussions of the relevant issues between government authorities and Guangming Group Co., Ltd., a major shareholder of the company are ongoing. All members of the board of directors will fulfill their obligations to maintain confidentiality according to the Administrative Measures on the Share Structure Reform of Listed Companies and will disclose information in a timely manner in accordance with the Stock Listing Rules of the Shenzhen Stock Exchange. Uncertainty persists as to whether the company will be able disclose a share reform scheme sometime in the near future. Investors are advised to exercise caution when dealing in the company's shares. Board of Directors 31 Oct 2008 Source: Securities Times Date: 3 Nov 2008 CN01/DC/LZ/JE/KM |