Zhongtian City to invest large shareholders will timing overweight

Zhongtian City Investment (000540) 3rd issued a notice, for the major shareholder King International Holdings Limited (hereinafter referred to as "King") last September, the commitment to increase the commitments can not be achieved on schedule to achieve the objective reasons for the statement,　　and separately proposed since June 1 this year until December 31 this year, by market timing increase in transit city to invest in shares of the commitment. At the same time, the proposed adjustment and optimization of the company's remuneration system in the bill: Zhongtian City, chairman of the board, vice Chairman, president of the salary cut by 30% in 2008, down to 686,000 yuan (including tax);　　Lowered to 54.6-686,000 yuan (including tax), while the percentage of directors, supervisors and independent directors who did not hold managerial positions in the company was up to 40%. King currently holds Zhongtian City 40.43% of the shares, is the company's largest shareholder. September 17, 2008, King issued the "on the timing increase in transit City to invest in the stock of the Commitment letter" (hereinafter referred to as the original commitment letter), the plan from the increase in the notice of commitment matters within eight months from the date, timing increase in Zhongtian City to invest in stocks, The price range of overweight is 7.5 to 11.60 yuan per share, the total number of overweight is not less than 5 million shares, no more than 2% of the total capital of Zhongtian City (in the promise of effective period, if due to the transit city to share dividends, allotment, increase and other reasons resulting in changes in shares or interests, then adjust the price according to the corresponding ratio).　　At present, the original letter of Commitment has been published for more than eight months, due to the objective reasons mentioned in the notice King cannot meet the commitment within this time limit. For the failure to fulfill the promise of the reasons, Zhongtian city to say, first of all, King in support of Zhongtian City Investment company sustained high-speed development considerations, the initiative to Transit City to provide free shareholder loan financing, In December 2008 to the transit city to provide more than 110 million yuan of liquidity; Secondly, before the end of 2008 King and Zhongtian City to negotiate shareholder loans, February 2009 Middle Zhongtian City, after the introduction of the annual Report King brewing proposals to revise the distribution plan, April 2009 Zhongtian City to China Resources Guiyang City Construction Co., Ltd. to provide related security, the May 2009 Zhongtian City to put forward the non-public offering of stock options and other major issues in the decision-making and announcement period, are the laws and regulations of the information sensitive period, do not allow the holding shareholder to increase the stock of listed companies; Finally,　　Since April 2009, Zhongtian City Investment has exceeded the original commitment to increase the price of the upper limit range, resulting in King in the sensitive period to increase investment in Zhongtian City, the full implementation of the plan is completely unable to implement. Although the previous mistake led to the inability to implement overweight plans, however, large shareholder King increased the willingness to invest in Zhongtian city has not been too much impact, King the initiative to propose new overweight commitment, and the new commitment is significantly higher than the original increase in commitment. King holding promised that from June 1, 2009 to December 31, 2009, through the Shenzhen Stock Exchange in accordance with market value timing increase in transit city to invest in shares, the total amount paid for overweight shares not less than RMB58 million yuan (original commitment to increase the price limit of 11.6 yuan/shares multiplied by the original increase in the number of 5 million shares of the results), the total number of overweight shares is not more than 2% of the total capital invested in Zhongtian City, while strict adherence to the "Shenzhen stock Exchange listed companies shareholders and their concerted action to increase the share of shares of the conduct of the Guidelines" and other relevant provisions,　　Do not use insider information to engage in securities trading activities, do not manipulate the price of the securities market, and timely implementation of information disclosure obligations. Reporters last night contacted King, a senior executive staff, he had to increase the commitment has not been successfully realized expressed regret and regret, but he also said that the new increase in the scheme is not less than the last time, the amount of money used to increase the limit also set a minimum of 58 million yuan, and not set the ceiling. The executive said that the major shareholder support for the transit city is all-round, in the future will be with the vast number of institutional investors, small and medium-sized investors, and constantly through laws, regulations allow various ways to support the development of Zhongtian City, for the development of the company.