Zhitong Financial App News, CITIC Resources (01205) issued an announcement that with regard to the sale and purchase agreement concluded by CCPL for the acquisition of the rights and interests of the ancillary business of KARAZHANBAS oilfields in Kazakhstan, all the prerequisites for the proposed acquisition have been met, and the proposed acquisition was completed on August 31st, 2021. Upon completion of the proposed acquisition, all participating interests in each of Caspi Bitum and UTTiOS are directly owned by CCPL, which is a wholly-owned subsidiary of CCEL.

As CCEL is not a subsidiary of the Company, but a joint venture, and its results are accounted for in the Group's consolidated financial statements using the equity method, neither Caspi Bitum nor UTTiOS will become subsidiaries of the Company upon completion of the proposed acquisition.