Announcement on the Resolutions of the 22nd Meeting of the 4th Session BOD
2008-11-4
1) Target: 380,914,014 shares (4.63% of total capital stock) of Haitong Securities held by the Bank;
2) Method: Market transaction method permitted by the regulatory authorities
3) Authorization: It is submitted to the shareholders meeting to authorize the Board to proceed with items concerning the disposal. After obtaining the authorization from the shareholders meeting, the Board will give authorizations to the management for execution, which include but not limited to:
(1) Proceed with market transactions permitted by the regulatory authorities;
(2) Go through relevant procedures and enter into relevant legal documents;
(3) Report the plan and result to the regulatory authorities.
4) Validity period of the authorization: one year commencing the date of approval of the shareholders’ meeting.
The meeting consented to submit this proposal to the shareholders’ meeting for review.
Voting result: Affirmative: 18 votes; Negative: 0 vote; Abstention: 0 vote.
6. Resolution on Establishing the Public Welfare Donation Fund of China Minsheng Bank
The meeting reviewed and passed the Proposal on Establishing the Public Welfare Donation Fund of China Minsheng Bank and relevant plan.
Funded by the Bank, the Fund’s first operation period will be 2008 to 2013. In 2008, the expenditure will be listed by 1% of the pretax profit, and during 2009-2013, the expenditure will be listed by 0.8-1.2% of the pretax profit per annum.
The capital for the Fund will be appropriated according to the annual budget commencing the date of approval of the shareholders’ meeting.
To ensure normative operation of the Public Welfare Donation Fund of China Minsheng Bank, a decision-making committee for donation programs that consists of directors, supervisors, functional departments and experts should be established, and authorization should be given by the Board to stipulate relevant administrative measures and implementation rules.
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