Biocause Pharma(SZ:000627) Zhong Guo Jing Ji Wang·2025-08-11 02:15Core Viewpoint - *ST Tianmao plans to voluntarily terminate its stock listing on the Shenzhen Stock Exchange and transfer to the National Equities Exchange and Quotations (NEEQ) for management in the delisting section, pending approval from shareholders [1][2][3] Group 1: Stock Listing Termination - The company held a board meeting on August 8, 2023, where it approved the proposal to terminate its stock listing through a shareholder resolution [1] - The proposal requires more than two-thirds of the voting rights held by attending shareholders to pass, excluding certain major shareholders and company executives [1][3] - If the proposal is not approved, dissenting shareholders will not receive cash options and cannot claim compensation from the company or the cash option provider [3] Group 2: Cash Option Mechanism - To protect investor interests, the company will implement a cash option mechanism for dissenting shareholders, allowing them to receive cash compensation for their shares [2] - The cash option price is set at 1.60 yuan per share, and the cash option provider is Jingmen Weituo Hongcheng Management Partnership [2] - The cash option is expected to cover up to 1,629,376,288 shares, excluding shares held by certain major shareholders and those with restrictions [3] Group 3: Future Plans and Stability - After the termination of the listing, the company aims to maintain operational stability and protect shareholder rights [3] - Currently, there are no plans for significant asset restructuring or a timeline for re-listing after voluntary delisting [3] - The company has engaged CITIC Securities as a financial advisor for the delisting process [3]