000627 主动退市通过

Core Viewpoint - *ST Tianmao has made significant progress in its voluntary delisting process, with shareholders overwhelmingly approving the proposal to terminate the company's stock listing at a meeting held on August 25, 2023 [2][5]. Group 1: Shareholder Meeting and Voting Results - At the extraordinary shareholder meeting on August 25, 2023, 98.06% of attending shareholders voted in favor of the proposal to voluntarily terminate the company's stock listing [5]. - Among small investors (those holding less than 5% of shares), the approval rate was 91.62%, indicating strong support for the delisting [5][9]. Group 2: Delisting Process and Cash Option - Following the shareholder resolution, *ST Tianmao will submit an application for voluntary delisting to the Shenzhen Stock Exchange within fifteen trading days [5]. - The last trading day for *ST Tianmao was August 13, 2023, and over 110,000 shareholders will have the option to receive a cash payout of 1.60 CNY per share [5]. - The cash option will cost approximately 2.607 billion CNY based on the total shares held by eligible shareholders [7]. Group 3: Reasons for Delisting - The company cited significant uncertainties and the need for business restructuring as reasons for the voluntary delisting, aiming to protect the interests of small shareholders [7]. - *ST Tianmao has been facing the risk of forced delisting due to its failure to disclose required financial reports, leading to a suspension of trading since May 6, 2023 [10][11]. Group 4: Market Reaction - Since the announcement of the voluntary delisting, *ST Tianmao's stock has seen a cumulative increase of nearly 9% over three consecutive trading days, with the last closing price at 1.58 CNY per share, slightly below the cash option price [8].