THIS CIRCULAR IS IMPORTANT AND REQUIRED YOUR IMMEDIATE ATTENTION

If you are in doubt as to any aspect of this circular, or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your shares in Shandong Molong Petroleum Machinery Company Limited*, you should at once hand this circular together with the enclosed form of proxy to the purchaser or the transferee or to the bank, stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser or the transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular.

(A Sino-foreign joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 568)

  1. PROPOSED AMENDMENTS TO ARTICLES OF ASSOCIATION
  2. PROPOSED PURCHASE OF LIABILITY INSURANCE FOR THE COMPANY, DIRECTORS, SUPERVISORS AND SENIOR
    MANAGEMENT OF THE COMPANY
  3. PROPOSED AMENDMENTS TO THE RULES OF PROCEDURES OF

SUPERVISORY COMMITTEE MEETINGS

AND

(4) NOTICE OF EGM

Capitalised terms used in this cover page have the same meanings as defined in the circular.

A letter from the Board is set out on pages 3 to 6 of this circular.

The notice of the EGM to be convened and held on 3 March 2021 at 2:00 p.m. at the conference room, at No. 999 Wensheng Street, Shouguang City, Shandong Province, the People's Republic of China is set out on pages 12 to 13 of this circular.

Shareholders who are entitled to attend and vote at the EGM should appoint one or more proxies to attend and vote on their behalves. A proxy need not be a member of the Company. Whether or not you are able to attend the EGM, please complete and return the enclosed proxy form in accordance with the instructions printed thereon as soon as practicable and in any event by not less than 24 hours before the time appointed for the holding of the EGM or any adjournment thereof (as the case may be). In order to be valid, the proxy form for the EGM must be deposited by hand or post, for holders of H Shares of the Company, to the H Share registrar of the Company, Tricor Investor Services Ltd at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong and, for holders of A Shares of the Company, to the Company's registered address at No. 999 Wensheng Street, Shouguang City, Shandong Province, the People's Republic of China for taking the poll. Completion and return of the proxy form will not preclude you from attending and voting in person at the EGM should you so wish.

* For identification purpose only

8 February 2021

CONTENTS

Page

DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1

LETTER FROM THE BOARD

1.

INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

2.

PROPOSED AMENDEMENTS TO ARTICLES OF ASSOCIATION . . . . . . . . . .

4

3.

PROPOSED PURCHASE OF LIABILITY INSURANCE

FOR THE COMPANY, DIRECTORS,

SUPERVISORS AND SENIOR MANAGEMENT OF THE COMPANY . . . . . .

4

4. PROPOSED AMENDMENTS TO THE RULES

OF PROCEDURES OF SUPERVISORY COMMITTEE MEETINGS . . . . . . . .

4

5.

EGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

6.

CLOSURE OF REGISTER OF MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

7.

RESPONSIBILITY STATEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6

8.

RECOMMENDATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6

APPENDIX I - PROPOSED AMENDMENTS TO THE ARTICLES

OF ASSOCIATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

NOTICE OF EGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12

- i -

DEFINITIONS

In this circular, unless the context otherwise requires, the following terms have the following meanings:

"Articles of Association"

the articles of association of the Company

"A Share(s)"

ordinary domestic share(s) with a nominal value of

RMB1.00 each in the share capital of the Company

which are listed on the SZSE and traded in RMB

"Board"

the board of Directors

"Company"

山東墨龍石油機械股份有限公司

(Shandong

Molong

Petroleum Machinery Company Limited*)

"Director(s)"

director(s) of the Company

"EGM"

the extraordinary general meeting of the Company to

be convened at 2:00 p.m. on 3 March 2021, or any

adjournment thereof

"HK$"

Hong Kong dollar, the lawful currency of Hong Kong

"Hong Kong"

the Hong Kong Special Administrative Region of the

PRC

"Hong Kong Listing Rules"

the Rules Governing the Listing of Securities on the

Hong Kong Stock Exchange

"Hong Kong Stock Exchange"

The Stock Exchange of Hong Kong Limited

"H Share(s)"

ordinary overseas listed foreign invested share(s) with a

nominal value of RMB1.00 each in the share capital of

the Company which are listed on the Hong Kong Stock

Exchange and traded in HK$

"PRC"

the People's Republic of China, for the purpose of this

circular, excluding Hong Kong, the Macau Special

Administrative Region of the PRC and Taiwan

"RMB"

Renminbi, the lawful currency of the PRC

"Share(s)"

A Share(s) and H Share(s)

"Shareholder(s)"

holder(s) of Share(s)

"Shenzhen Listing Rules"

the Rules Governing the Listing of Shares on Shenzhen

Stock Exchange

- 1 -

DEFINITIONS

"Supervisors"

the supervisor(s) of the Company

"SZSE

Shenzhen Stock Exchange

For ease of reference, the names of the PRC incorporated companies and entities have been included in this circular in both Chinese and English language. In the event of any inconsistency, the Chinese name prevails.

- 2 -

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Shandong Molong Petroleum Machinery Co. Ltd. published this content on 09 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2021 05:12:01 UTC.