And Intention to Deregister and Terminate Reporting
Obligations under the U.S. Securities Exchange Act
BEIJING, June 17,
2022 /PRNewswire/ -- Huaneng Power International,
Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011)
today announced that the Company has notified the New York Stock
Exchange ("NYSE") on June 17, 2022 (Eastern
Time in the U.S.) that it will apply for the voluntary
delisting of its American depositary shares ("ADSs") from the NYSE
and the deregistration of such ADSs and underlying overseas listed
shares, par value RMB1.00 per share
(the "H Shares"), under the U.S. Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The board of directors of the
Company approved the delisting of its ADSs from NYSE and the
deregistration of such ADSs and the underlying H Shares under the
Exchange Act due to a number of considerations, including the
limited trading volume of its ADSs relative to the worldwide
trading volume of its H Shares, and the considerable administrative
burden and costs of maintaining the listing of the ADSs on the
NYSE, the registration of the ADSs and the underlying H Shares with
the United States Securities and Exchange Commission (the "SEC")
and complying with the periodic reporting and related obligations
of the Exchange Act.
As such, the Company intends to file a Form 25 with the SEC on
or about June 27, 2022 to de-list its
ADSs from the NYSE. The delisting of the ADSs from the NYSE is
expected to become effective ten days thereafter. The last day of
trading of the ADSs on the NYSE will be on or about July 7, 2022. From and after that, the Company
will no longer list its ADSs on the NYSE.
Once the delisting has become effective and the Company has met
the criteria for deregistration, the Company intends to file a Form
15F with the SEC on or about July 7,
2022 to deregister the underlying H Shares under the
Exchange Act. Thereafter, all of the Company's reporting
obligations under the Exchange Act will be suspended unless the
Form 15F is subsequently withdrawn or denied. Deregistration with
the SEC and termination of the Company's reporting obligations
under the Exchange Act are expected to become effective 90 days
after its filing of Form 15F with the SEC. Once the Form 15F is
filed, the Company will publish the information required under Rule
12g3-2(b) of the Exchange Act on its website,
https://www.hpi.com.cn/sites/english/announcementH/publish.aspx.
The Company will also continue to comply with its financial
reporting and other obligations as a listed-issuer under the Rules
Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited (the "Listing Rules").
The Company intends to terminate its ADS program after delisting
its ADSs from the NYSE and the deregistration of the underlying H
Shares in due course in accordance with the deposit agreement.
The Company reserves its rights in all respects to delay or
withdraw the aforementioned filings prior to their effectiveness
and will issue any further announcement if required under the
Listing Rules or other applicable laws.
About Huaneng Power International, Inc.
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 121,118 MW and equity-based
generation capacity of 108,588 MW. The power plants of the Company
are located in 26 provinces, autonomous regions and municipalities
in China. The Company also has a
wholly-owned power company in Singapore, and an invested power company in
Pakistan.
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR"
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
This press release may contain, in addition to historical
information, "forward-looking statements" within the meaning of the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995 and Section 27A of the U.S. Securities Act of
1933 and Section 21E of the U.S. Securities Exchange Act of 1934.
These forward- looking statements are based on the Company's
current assumptions, expectations and projections about future
events. The Company uses words like "believe," "anticipate,"
"intend," "estimate," "expect," "project" and similar expressions
to identify forward looking statements, although not all
forward-looking statements contain these words. These
forward-looking statements are necessarily estimates reflecting
judgment of the Company's senior management and involve significant
risks, both known and unknown, uncertainties and other factors that
may cause the Company's actual performance, financial condition or
results of operations to be materially different from those
suggested by the forward-looking statements. Except as required by
law, the Company undertakes no obligation and does not intend to
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
For enquiries, please
contact:
Huaneng Power International,
Inc.
Mr. Chen Zhelu / Ms. Liu
Tianyu
Tel: (8610) 6322 6554 / 6322 6595
Fax: (8610) 6322 6888
Email: zqb@hpi.com.cn
Wonderful Sky Financial Group Limited
Ms.
Ketrina Yang / Ms. Hester Li
Tel: (852) 3970 2239
Fax: (852) 3102 0210
Email: hpi@wsfg.hk
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SOURCE HUANENG POWER INTERNATIONAL, INC.