Power Industries announced on April 24, 2024 that its subsidiaries and subsidiaries of Changjiang Industries and Changjiang Infrastructure have entered into two share subscriptions with CK William, respectively. In the first share subscription, Power Industry Subsidiary, Changjiang Industrial Subsidiary and Changjiang Infrastructure Subsidiary have each subscribed for 46,526 shares, 93,052 shares and 93,052 shares of CK William Ordinary Shares for a total subscription price of £46,526,000, £93,052,000 and £93,052,000, respectively. In the second share subscription, the three companies subscribed for 137,500 shares, 275,000 shares and 275,000 shares of ordinary shares, with a total subscription price of A$267 million, A$533 million and A$533 million, respectively. These transactions are conducted at a ratio of their respective shareholders' equity in CK William and the terms are essentially the same. As Changjiang Infrastructure holds approximately...Show More

Power Industries announced on April 24, 2024 that its subsidiaries and subsidiaries of Changjiang Industries and Changjiang Infrastructure have entered into two share subscriptions with CK William, respectively. In the first share subscription, Power Industry Subsidiary, Changjiang Industrial Subsidiary and Changjiang Infrastructure Subsidiary have each subscribed for 46,526 shares, 93,052 shares and 93,052 shares of CK William Ordinary Shares for a total subscription price of £46,526,000, £93,052,000 and £93,052,000, respectively. In the second share subscription, the three companies subscribed for 137,500 shares, 275,000 shares and 275,000 shares of ordinary shares, with a total subscription price of A$267 million, A$533 million and A$533 million, respectively. These transactions are conducted at a ratio of their respective shareholders' equity in CK William and the terms are essentially the same. As Changjiang Infrastructure holds approximately 36.01% of the shares in Electric Power Industries and holds more than 30% of CK William's shares, the subscription constitutes a connected transaction under Chapter 14A of the Listing Rules. The subscription of shares in a subsidiary of Power Industries is subject to the declaration and announcement requirements of Chapter 14A of the Listing Rules, but is exempt from compliance with the requirement of obtaining the approval of independent shareholders. THE FUNDS FOR THE FIRST SHARE SUBSCRIPTION CAME FROM THE ELECTRICITY INDUSTRY'S EXISTING INTERNAL RESOURCES, AND THE SECOND SHARE SUBSCRIPTION WAS PAID THROUGH A REPAYMENT LOAN. These share subscriptions help CK William Group support a portion of the capital requirements of its acquisition of Lionrai's entire issued share capital and as part of a capital restructuring to streamline its capital structure and enhance financial flexibility. The Board considers that these transactions are in the overall interests of the Company and its shareholders and are fair and reasonable.