CITIC Pacific definition
Examples of CITIC Pacific in a sentence
CITIC Pacific will comply with the applicable requirements under the Listing Rules as and when necessary.
CITIC Heavy Industries, the shares of which are listed on the Shanghai Stock Exchange, is a subsidiary of CITIC Group Corporation, being the ultimate controlling shareholder of CITIC Pacific holding 2,098,736,285 Shares as of the date of this announcement, representing approximately 57.51% of the entire issued share capital of CITIC Pacific.
CITIC Pacific also holds controlling interests in CITIC Telecom International Holdings Limited and Dah ▇▇▇▇▇ ▇▇▇▇ Holdings Limited.
The Contractor is a wholly owned subsidiary of CITIC Group, and therefore an associate of the controlling shareholder of CITIC Pacific.
They were recently acquired by COLI pursuant to the sale and purchase agreement dated 14 March 2016 entered into between COLI, CITIC Corporation Limited, CITIC Pacific Limited and CITIC Limited for, among others, the sale and purchase of the entire issued share capital of each of Tuxiana Corp.
Please refer to the announcement of CITIC Pacific dated 19 December 2013 for details of these previous transactions.
Should that transaction become unconditional and proceed to completion, CITIC Heavy Industries will become a subsidiary of CITIC Pacific and similar transactions after that time will not be connected transactions under the Listing Rules.
Accordingly, the Contractor is a connected person of CITIC Pacific and the entering into of the Construction Contracts and the Supplemental Agreement constitutes connected transactions for CITIC Pacific under Chapter 14A of the Listing Rules.
Therefore, CITIC Heavy Industries is a connected person of CITIC Pacific under the Listing Rules, and the Equipment Supply Contract constitutes a connected transaction of CITIC Pacific pursuant to Rule 14A.13 of the Listing Rules.
With production line 1 of the Sino Iron Project in operation and re-commencement in mid-June of trial production of line 2 progressing, CITIC Pacific has also commenced civil construction and installation of production lines 3 to 6.