Major asset restructuring suspension expires Wanda Film: apply for continued suspension

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Confirmed by the company, the major event of this planning is to issue shares to purchase 100% equity interest in Wanda Film and Television Media Co., Ltd., which involves major asset restructuring. The company's shares have been transferred to the major asset restructuring procedure since July 11, 2017. and issued a "suspension notice on the planning of major asset restructuring" (No. 2017-036) The company disclosed the Progress announcement during the suspension period of significant asset restructuring on July 18, 2017, July 25, 2017 and August 1, 2017. ...

On August 3, Wanda Film Co., Ltd. issued an announcement on the continued suspension of the application for material asset reorganization after the suspension period expired.

The announcement stated that Wanda Film's stock was suspended from the market opening on July 4, 2017 due to planning the acquisition of film and television assets. The company's stock was suspended after the company applied to the Shenzhen Stock Exchange. The company issued the "Announcement on Suspension of Major Events" on the same day. The company confirmed that the major event planned this time is the proposed issuance of shares to purchase 100% equity of Wanda Film and Television Media Co., Ltd., which involves a major asset reorganization. The company's shares will be transferred to the major asset reorganization process from July 11, 2017 to continue to be suspended, and issued the "Suspension Announcement on Planning for Major Asset Reorganization"(No. 2017-036), the company disclosed the "Progress Announcement during the Suspension Period of Major Asset Restructuring" on July 18, 2017, July 25, 2017 and August 1, 2017.

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The main counterparties of Wanda Film's material asset reorganization are Beijing Wanda Investment Co., Ltd., the company's controlling shareholder, and other shareholders with the subject matter of the transaction. This transaction involves connected transactions.

The company originally promised to strive to disclose the material asset reorganization plan (or report) that meets the requirements of the "Guidelines for the Contents and Forms of Information Disclosure by Companies that Publicly Offer Securities No. 26-Application Documents for Material Asset Reorganization of Listed Companies" before August 3, 2017. However, due to the large workload of this material asset reorganization and has not yet been completed, the reorganization plan needs further negotiation and improvement. The company is not expected to disclose this material asset reorganization plan (or report) before August 3, 2017. In order to ensure the authenticity, accuracy and completeness of the application and disclosure materials for this material asset reorganization, ensure the smooth progress of this work, avoid abnormal fluctuations in the company's share price, and safeguard the interests of investors, the company applied to the Shenzhen Stock Exchange for a postponement and resumption of stock trading. The company's shares will continue to be suspended for no more than one month, that is, no more than September 3, 2017.

Editor: Mary