Delay in Despatch of Circular

RNS Number : 9822S

Air China Ld

20 September 2010

 



Hong Kong Exchange and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss whatsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 00753)

DELAY IN DESPATCH OF CIRCULAR

IN RELATION TO MAJOR TRANSACTION

Reference is made to the announcement of Air China Limited (the "Company") dated 31 August 2010 in respect of the purchase of 15 Boeing 787-9 aircraft (the "First Announcement") and the announcement of the Company dated 10 September 2010 in respect of the purchase of 4 Boeing 777-300ER aircraft (the "Second Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Second Announcement.

On 25 June 2010, the Company agreed to purchase 20 Boeing 737-800 aircraft from Boeing Company (the "Previous Transaction"). Since the Previous Transaction and the purchase of 15 Boeing 787-9 aircraft and 4 Boeing 777-300ER aircraft (the "Transactions") were entered into within a 12 month period with Boeing Company, pursuant to Rule 14.22 of the Listing Rules, the transaction amounts of the Transactions and the Previous Transaction should be aggregated for the purpose of determining relevant percentage ratios under Rule 14.07 of the Listing Rules. As each of the relevant percentage ratios under Rule 14.07 of the Listing Rules for the Transactions, aggregated with the Previous Transaction, is above 25% but less than 100%, the Transactions constitute a major transaction of the Company. Thus, the Company is required to and will disclose the information of the Transactions in one circular (the "Circular") to the shareholders of the Company.

As disclosed in the First Announcement, the Company expects to despatch a circular in respect of the purchase of 15 Boeing 789-9 aircraft within 15 business days of the date of the First Announcement which is 21 September 2010. As disclosed in the Second Announcement, the Company expects to despatch a circular in respect of the purchase of 4 Boeing 777-300ER aircraft within 15 business days of the date of the Second Announcement which is 5 October 2010.However, as more time is required for preparing and finalising the information to be contained in the Circular, including but not limited to, the indebtedness statement, the Company expects to despatch the Circular as soon as possible but no later than 14 October 2010.

By order of the Board

Air China Limited

Huang Bin  Tam Shuit Mui

Joint Company Secretaries

Beijing, the PRC, 20 September 2010

As at the date of this announcement, the directors of the Company are Mr. Kong Dong, Ms. Wang Yinxiang, Mr. Wang Shixiang, Mr. Cao Jianxiong, Mr. Christopher Dale Pratt, Mr. Cai Jianjiang, Mr. Fan Cheng, Mr. Hu Hung Lick, Henry*, Mr. Zhang Ke*, Mr. Jia Kang* and Mr. Fu Yang*.

* Independent non-executive director of the Company

 

END

 

 

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