The Industrial Bank Co., Ltd (the Company) and all 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.
In order to standardize the management of proceeds raised by the Industrial Bank Co., Ltd (hereinafter referred to as “the Company”) and safeguard the interests of investors, the Company has entered into a Deposit and Supervision Agreement on Special Account for Proceeds with Credit Suisse Founder Securities Limited in accordance with the Circular on Further Regulating the Use of Proceeds of Listed Companies issued by the China Securities Regulatory Commission, the Regulations on Supervision of Proceeds of Listed Companies issued by Shanghai Stock Exchange and the Administrative Measures on Use of Proceeds of the Company. The main terms of said agreement are as follows:
I. The Company has opened a special account for proceeds of this rights issue (hereinafter referred to as “Special Account”). Said Special Account shall be only used for the deposit and use of proceeds raised from the rights issue of 992,450,630 common shares in RMB offered by the Company in 2010.
II. As sponsor for this rights issue, Credit Suisse Founder Securities Limited will appoint a sponsor representative or other officer to supervise the use of the proceeds from this offering.
III. If the Company withdraws a lump-sum of over RMB 50 million or a total sum of over RMB 50 million within 12 months from the Special Account, and where this sum accounts for 20% of the net balance of the total proceeds after the deduction of issuance expenses, the Company shall give a notice by fax to Credit Suisse Founder Securities Limited on a timely basis, and provide the withdrawal details of the Special Account.
Board of Directors
Industrial Bank Co., Ltd
June 11, 2010