CNBM (03323) announced that Morgan Stanley will make a conditional cash tender offer on behalf of the company, repurchasing and cancelling up to the maximum number of shares (i.e. 841,749,304 H shares, accounting for approximately 9.98% of the issued shares and 18.47% of the issued H shares as of the date of this announcement) at a tender price of HK$4.03 per H share. The repurchased H shares by the company will not exceed the maximum number. The tender price represents a premium of approximately 15.1% over the closing price of H shares reported on the last trading day on the Stock Exchange of Hong Kong.

The offer will be made in accordance with regulations. The consideration of the offer (assuming full acceptance of the offer, totaling approximately HK$3.392 billion) will be paid in cash to accepting shareholders and will be funded by external borrowings and/or internal resources.