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Zhaojin Mining (HKG:1818) Launches Share Appreciation Rights Plan
Zhaojin Mining (HKG:1818) Launches Share Appreciation Rights Plan
Hong Kong, Dec 30, 2009 AEST (ABN Newswire) - One of the PRC's leading gold production enterprises, Zhaojin Mining Industry Company Limited's ("Zhaojin Mining" or the "Company", HKG:1818) (PINK:ZHAOF) Board of Directors approved to adopt the share appreciation rights plan on 21 December 2009. The share appreciation rights plan is valid for ten years, subject to the review and approval by the State-owned Assets supervisory authorities and the general meeting.

The State-owned Assets supervisory authorities encourage state-owned holdings companies which are listed overseas to implement share option schemes. Currently, various Hong Kong-listed H shares Companies have already completed their share appreciation rights plan. To further drive the Company's development and enhance the employees' initiatives at work, the share appreciation rights plan is eligible to those senior management and key persons that may bear substantial effect to the realization of the Company's strategic missions, such as senior management at the headquarter, managers under different divisions at the headquarters, management of the fellow subsidiaries (including branches, wholly owned subsidiaries and subsidiaries under control), core technical staff and key persons nominated by the board of the Company (or authorized by the remuneration committee or the management). The initial batch will be granted to senior management at the headquarters and key management of the fellow subsidiaries (including branches, wholly owned subsidiaries and subsidiaries under control).

Mr. Lu Dongshang, Chairman of Zhaojin Mining Industry Company Limited said, "The implementation of the share appreciation rights based share option scheme could link up the benefits of the Company, its shareholders and the management, thus strengthening its corporate governance and avoid the adverse effects due to talent lost. The share option scheme is a long-term plan which will further drive the business development of the Company through capital market operations."

Issued by Porda International (Finance) PR Group for and on behalf of Zhaojin Mining Industry Company Limited.

About Zhaojin Mining Industry Company Limited

Zhaojin Mining Industry Company Limited is a leading gold production enterprise in the PRC. The Group is located in Zhaoyuan City in Shandong Province - the 'Gold City' of China, holding 10% of the country's total gold reserves and having the longest history of gold mining in the PRC. The Group is principally engaged in the exploration, mining, ore processing, smelting and sale of gold products, and is the largest gold smelting enterprise in the PRC. The principal products of the Group include standard Au9999 and Au9995 gold bullion. Zhaojin Mining operates five mines in Zhaoyuan City and owns a 75% equity interest in another operating mine. The Group also owns various gold mines throughout the Northern, Northwestern, and Southwestern parts of China. With its abundant gold resources, advanced technology and seasoned management, the Group has attained to a leading position in the industry.

 


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Ms. Ada Leung
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