LIFE INSURANCE CHINA: ANNOUNCEMENT ON THE EVOLUTION OF THE RELATED TRANSACTION RELATING TO THE SUBSCRIPTION TO THE CAPITAL INCREASE OF CHINA GUANGFA BANK – Form 6-K

0

CHINA LIFE INSURANCE COMPANY LIMITED

ANNOUNCEMENT ON THE STATUS OF THE CONNECTED TRANSACTION RELATING TO THE SUBSCRIPTION TO THE CAPITAL INCREASE OF CHINA GUANGFA BANK

At the thirty-sixth meeting of the sixth session of the Board of Directors (the “Board”) of China Life Insurance Company Limited (the “Company”), the Board reviewed and approved the Company’s subscription proposal for additional shares issued by China Guangfa Bank (“CGB”) (the “Transaction”). This Transaction constitutes a related transaction of the Company. For detailed information, please refer to the announcement on the related CGB capital increase subscription proposal filed by the Company on the Shanghai Stock Exchange website (www.sse.com.cn) on May 27, 2021 (Lin 2021-025).

As of November 29, 2021, the Company has completed the signing of the Share Subscription Agreement (the “Agreement”) with CGB (the “Subscription”). In order to maintain the Company’s percentage stake in CGB, in accordance with the Agreement, the Company subscribed for 918,578,836 ordinary shares of CGB with a par value of RMB 1.00 per share. The subscription price is 8.7364 RMB per share and 8,025,072,142.83 RMB in total.

At the end of this Subscription, the Company will hold 9,519,210,262 CGB shares and the Company’s percentage holding in CGB will remain at 43.686%. This Subscription will not have the effect of making CGB a subsidiary of the Company or of modifying the scope of the consolidated accounts of the group (the Company and its subsidiaries).

The issuance of additional CGB shares is subject to approval by the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and other regulatory authorities. The final status of the Operation is subject to these approvals by the relevant regulatory authorities.

Board of Directors of China Life Insurance Company Limited

November 29, 2021

Disclaimer

China Life Insurance Co. Ltd. published this content on November 29, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 29, 2021 11:09:16 AM UTC.

Share.

Comments are closed.