The fourth degree of the ancient well group started restructuring

Ancient Well Gong (000596) announced last night, Bozhou People's government will be in the recent gong holding shareholder of ancient Wells Anhui ancient Well Group Co., Ltd. (hereinafter said: "Ancient well Group") property system reform matters discussed. Because of the great uncertainty of the property right system reform scheme of the ancient well group, the ancient well gong suspended today and will announce the progress of the relevant matters and deal with the cards no later than May 26.　　This is the fourth degree of the ancient well group to start the reform of property rights. According to previous media reports, the new ancient well group restructuring scheme was released last December.　　According to the plan, the shareholding ratio of the large shareholder of the ancient well group, Bozhou Sasac, will be reduced from 100% to 60%. The 40% state-owned shares, which are being reduced, will be divided into two parts-20% of which will be used for employee shareholdings, and 20% for the group's future strategic partners and for the dealers and suppliers of the ancient well group. At the same time, in order to avoid the 2002 restructuring because the general staff fiercely opposed to the reform program to lead to eventual failure, the Bozhou government has in advance of the employee identity replacement, by the Bozhou government funding for the employee identity buyout. But for middle-and senior-level managers and technical personnel, it is still planned to pass the share replacement method.