09:11 ENERCHINA HOLD<00622>-Announcement&Resumption of Trading(2) "Sale") to an investor who is independent and not a connected person (as defined in the Listing Rules) of the Company at a price of HK$0.63 per Share (the "Sale Price"), representing approximately 1.01% of the total issued share capital of the Company. The Sale is unconditional and is expected to complete on 21 January 2005, being the second day when the Shares resume trading on the Stock Exchange. The Sale Price is the same as the Share Offer Price. The Sale Price represents a premium of approximately 1.61% to the closing price of HK$0.62 per Share on 18 January 2005 (being the last day of trading in the Shares on the Stock Exchange prior to the suspension of dealings in the Shares on 19 January 2005) and a premium of approximately 1.61% to the average closing price of HK$0.62 per Share for the 10 trading days up to and including 18 January 2005. Upon the completion of the Sale, Sinolink and the parties acting in concert with it will be interested in a total of 1,428,782,211 Shares, representing approximately 62.37% of the total issued share capital of the Company. Furthermore, upon completion of the Sale, 346,627,316 Shares will be held in the hands of public representing 15.13% of the total issued share capital of the Company. The table below sets out the changes in the Company's shareholding structure in relation to the Offers and the Sale. Shareholding in the Company Shareholding in the Company Shareholders immediately after the close of the Offers immediately after the Sale Number of Shares % Number of Shares % Sinolink (Note 1) 1,451,882,211 63.38% 1,428,782,211 62.37% Warburg Pincus & Co. (Note 2) 515,524,377 22.50% 515,524,377 22.50% Public 323,527,316 14.12% 346,627,316 15.13% Total issued Shares 2,290,933,904 100.00% 2,290,933,904 100.00% Note 1: including the interest of Smart Orient Note 2: deemed interested in the Shares held by Atlantic Cay International Limited and Warburg Pincus Ventures L.P. STEPS TO BE TAKEN TO RESTORE THE PUBLIC FLOAT The Company has applied for a temporary waiver for a period of one (1) month until 18 February 2005 from strict compliance with the requirements of Rule 8.08(1)(a) for the Company to maintain a public float of 25%. The Offeror has notified the Company that, pursuant to Note 2 to Rule 8.08(1) of the Listing Rules, the directors of the Offeror have undertaken to the Stock Exchange to take appropriate steps to ensure restoration of the minimum percentage of the Shares in public hands by 18 February 2005. The Offeror indicates that the steps which have been or will be taken include: (a) Sinolink is in the process of finalising the appointment of an international financial institution as its placing agent to procure the placing of Shares to independent third parties so as to restore the minimum public float of the Company to 25%; (b) the entering into an agreement in respect of the Sale; and (c) Sinolink, together with the placing agent, will make and have made active efforts, which include identification of and negotiation with potential placees, to effect the placing of the Shares and will report to the Stock Exchange as appropriate of the efforts undertaken. Pursuant to Note 2 to Rule 8.08(1) of the Listing Rules, the directors of the Company have also undertaken to the Stock Exchange to take appropriate steps to ensure restoration of the minimum percentage of the Shares to public hands on or before 18 February 2005. The Company has applied for the resumption of trading in the Shares effective from 9:30 am on 20 January 2005. The Stock Exchange has stated that it will closely monitor trading in the Shares if less than 25% of the Shares are held by the public. If the Stock Exchange believes that: (i) a false market exists or may exist in the trading of the Shares; or (ii) there are insufficient Shares in public hands to maintain an orderly market, it will consider exercising