[ET Net News Agency, 4 January 2018] China Power International Development (02380) said
it was informed by substantial shareholder China Power Development Limited (CPDL) that
CPDL completed an issue of non-voting convertible preferred shares to Seth Holdings
Corporation Limited.
If the non-voting convertible preferred shares were fully converted into ordinary
shares, Seth Holdings would hold about 33.48% of the voting rights in CPDL.
Seth Holdings is an indirect wholly-owned subsidiary of CNIC Corporation Limited, a
company jointly established by the State Administration of Foreign Exchange and the
State-owned Assets Supervision and Administration Commission of the State Council of the
People's Republic of China.
At present, State Power Investment Corporation (SPIC) is an indirect controlling
shareholder of China Power holding about 55.61% of the issued share capital through China
Power International Holding Limited (CPIH). CPIH, a wholly-owned subsidiary of SPIC, is
also a controlling shareholder of China Power directly holding about 28.47% stake and
through CPDL, a wholly-owned subsidiary of CPIH, indirectly holding about 27.14% stake in
China Power. (HL)