VOLUNTARY UNDERTAKING BY CONTROLLING SHAREHOLDER
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中國國際航空股份有限公司
AIR CHINA LIMITED
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 00753)
ANNOUNCEMENT IN RELATION TO THE VOLUNTARY UNDERTAKING BY THE CONTROLLING SHAREHOLDER NOT TO REDUCE SHAREHOLDINGS IN THE COMPANY
On 8 April 2025, Air China Limited (the "Company") received a notice (the "Notice") from the controlling shareholder of the Company, China National Aviation Holding Corporation Limited ("CNAHC") and its wholly-owned subsidiary, China National Aviation Corporation (Group) Limited ("CNACG"), regarding their undertakings not to reduce their shareholdings in the Company. The main contents of the Notice are as follows:
CNAHC and CNACG are optimistic about the long-term prospects of China's aviation industry. Based on their confidence in the Company's future development prospects and recognition of the Company's intrinsic investment value, in addition to strictly fulfilling the share lock-up undertakings already made in respect of the refinancing, CNAHC and CNACG undertake that, for a period of 18 months from the date of issuing the Notice, they will not reduce any holdings in the Company's tradable shares they hold which are not subject to selling restrictions in any manner (including any additional shares obtained through the Company's capital reserve conversion, distribution of stock dividends, rights issues, additional share offerings).
As at the date of this announcement, CNAHC and CNACG collectively hold 53.71% of the Company's shares. The board of directors of the Company (the "Board") is of the view that the undertakings by CNAHC and CNACG not to reduce their shareholdings in the Company are conducive to further facilitate the sustained, stable and healthy development of the Company, and are beneficial to protect the interests of all shareholders, particularly minority investors. The Board will follow up with CNAHC and CNACG on their strict compliance with the aforementioned undertakings and will ensure timely fulfillment of relevant information disclosure obligations in accordance with the Company Law, the Securities Law and the relevant laws, regulations and regulatory documents of the China Securities Regulatory Commission and the Shanghai Stock Exchange.
By Order of the Board
Air China Limited
Xiao Feng Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 8 April 2025
As at the date of this announcement, the directors of the Company are Mr. Ma Chongxian, Mr. Wang Mingyuan, Mr. Cui Xiaofeng, Mr. Patrick Healy, Mr. Xiao Peng, Mr. Xu Niansha*, Mr. He Yun*, Ms. Winnie Tam Wan-chi* and Mr. Gao Chunlei*.
* Independent non-executive director of the Company
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