The Company and the members of the Board of Directors hereby warrant that the information contained in this announcement is true, accurate and complete, and assume joint and several liabilities for any false representation, misleading statement or material omission.
Special Notes:
1. The number of shares with sale restriction that will become tradable is 1,020,000,000 shares.
2. The shares with sale restriction will become tradable on 5 Feb, 2010.
I. Information of the shares with sale restriction that will become tradable
The Company launched IPO in A share market in 2007, and listed its shares in Shanghai Stock Exchange on 5 Feb, 2007, with a total share capital of 5 billion shares. The 1,020,000,000 shares with sale restriction that will become tradable were held by the Finance Bureau of Fujian Province, the largest shareholder of the Company, before the Company launched its initial public offerings. The Finance Bureau of Fujian Province has promised to lock these shares for three years starting from the date when the Company listed its shares. The sale restriction on these shares will be removed on 4 Feb, 2010 and become tradable on 5 Feb, 2010.
II. The lock-up of the shares with sale restriction
The Company’s largest shareholder, Finance Bureau of Fujian Province, is holding a total of 1,040,053,632 shares of the Company, or 20.80% of the Company’s total share capital, 1,020,000,000 shares of which were held before the Company launched IPO. The Finance Bureau of Fujian Province promised that within 36 months after the Company’s A–share listing in Shanghai Stock Exchange, it would not transfer or entrust others to manage the shares, nor would the Company repurchase these shares. The Finance Bureau of Fujian Province has been strictly fulfilling its commitment within the lock-up period and there has been no change in the number of shares held before the IPO.
III. The listing arrangements of shares with sale restriction
1. The number of shares with sale restriction that will become tradable is 1,020,000,000 shares. 2. The shares with sale restriction will become tradable on 5 Feb, 2010.
3. Detailed information of the shares with sale restriction
Unit: share
No. | Name of the holder of shares with sale restriction | Number of shares with sale restriction | Number of shares becoming tradable | Number of remaining shares with sale restriction |
| 1 | Finance Bureau of Fujian Province | 1,020,000,000 | 1,020,000,000 | 0 |
| Total | 1,020,000,000 | 1,020,000,000 | 0 | |
4. Changes in shares
Unit: share
| Before change | Change | After change | |
| I. Total number of the shares with sale restriction | 1,020,000,000 | -1,020,000,000 | 0 |
| Including:1. State-owned shares | 1,020,000,000 | -1,020,000,000 | 0 |
| 2. State-owned legal person shares | 0 | 0 | 0 |
| 3. Other domestic legal person shares | 0 | 0 | 0 |
| 4. Oversea legal person shares | 0 | 0 | 0 |
| 5. Strategic placement shares | 0 | 0 | 0 |
| 6. Common legal person shares | 0 | 0 | 0 |
| II. Total number of shares without sale restriction | 3,980,000,000 | +1,020,000,000 | 5,000,000,000 |
| Total | 5,000,000,000 | - | 5,000,000,000 |
Board of Directors
Industrial Bank Co., Ltd.
29 January, 2010