as of October 31

For the Fujian Nanping paper mill (600,163) introduce appropriate reorganization, Fujian Nanping paper Holdings shareholders textile in Fujian province (Holdings) company limited took out a lot of "good faith"--at the lowest price of 73 percent yield control of Fujian Nanping paper mill. Fujian Nanping paper notice 25th controlling shareholder letter, Fujian provinceAdministration Commission agreed that the textile holdings intends to publicly call for agreement Fujian Nanping paper 215 million shares held by the transfer, account for the total share capital of 29.8%. Fujian Nanping paper early November announcement of textile holding negotiated transfer of company shares will be held, after the transfer is complete will involve changes in the company. Before this transfer, textile holdings held in Fujian Nanping paper 286,115,110, 39.66% per cent of the total share capital. The share transfer price is not less than $ 5.341/unit, that is, share transfer information notice (November 1) 30 trading days before arithmetic mean weighted average daily prices of 90%. At the same time swtor power leveling, 25th and minimum transfer of 5.341/unit price closed at $ 7.29/unitThan, equivalent to a minimum of 73 percent discount is given. Intended transferee shall have the qualifications, and textile holding requirement, transferee of intent as a body corporate established by law in the territory, and set up more than three years, the last two years of continuous profit and no major violations; transferee has a clear business strategy of intention; intention transferee with promoting sustainable development of Fujian Nanping paper mill and changingAbility of good corporate governance structure of Fujian Nanping paper mill. At the same time, intention transferee must have strong economic strength, the most recent issue (as of October 31, 2011) the audited total assets (consolidated statements) of not less than 3 billion yuan, 2011 1 operating income (consolidated statements) of not less than 4 billion yuan; registered capital of not less than $ 800 million peoplePeople coin. ����It is worth noting is that earlier rumors, the Fujian Provincial Government, provincial SASAC will consolidate its two subordinate paper listed companies in South Fujian qingshan paper and paper (600,103), the rumours were then denied that the two companies, textile holding out of the revenues of qingshan conditions again excluded. In addition, textile holdings required transferee of intent to buyListed company Hou be engaged in by national industry directory developed encourages policy of industry; intention by let party also needed provides: this times acquisition Fujian South paper of purpose, intention by let party whether has on Fujian South paper for recombinant of plans, if has on Fujian South paper recombinant of plans, provides preliminary recombinant programme, and intends injected assets and business of basic situation the old republic power leveling, and time arrangements and the future development planning.