Regulatory Actions By SGX::DEQUOTATION ON GLOBALQUOTE: HUANENG POWER INTL ADR 10

Issuer & Securities

Issuer/ Manager
BANK OF NEW YORK MELLON
Securities
HUANENG POWER INTL ADR 10 - US4433041005 - K3FD
Stapled Security
No

Announcement Details

Announcement Title
Regulatory Actions By SGX
Date &Time of Broadcast
21-Jul-2022 14:42:23
Status
New
Announcement Sub Title
DEQUOTATION ON GLOBALQUOTE: HUANENG POWER INTL ADR 10
Announcement Reference
SG220721OTHRNLD9
Submitted By (Co./ Ind. Name)
SINGAPORE EXCHANGE REGULATION PTE. LTD.
Designation
SINGAPORE EXCHANGE REGULATION
Description (Please provide a detailed description of the event in the box below)
The Bank of New York Mellon ("Depositary") announced on 12 July 2022 that the deposit agreement dated 28 July 2003, among Huaneng Power International, Inc. ("Company"), the Depositary, and owners and holders of the Company's American Depositary Receipts ("ADRs") ("Deposit Agreement"), will be terminated ("BNY Announcement"). As a result, the existing ADR facility will be terminated effective 5:00 PM (Eastern Time) on Tuesday, 11 October 2022. A copy of the BNY Announcement is attached.

Under the terms of the Deposit Agreement, investors have until at least 16 October 2023 to surrender the Company's ADRs for delivery of the underlying shares. Subsequent to 16 October 2023, the Depositary may attempt to sell the underlying shares.

In view of the BNY Announcement, Singapore Exchange Regulation will cease the quotation of the ADRs on SGX GlobalQuote after SGX-ST market close on 21 July 2022.

Investors have the following options:
1. Transfer the Company's ADRs into their account with a U.S. broker using the attached CDP form "Request for Cross-Border Securities Transfer (USA)". After which, they may continue to hold the Company's ADRs with the U.S. broker or sell the Company's ADRs over the counter in the U.S..
2. Convert the ADRs to the underlying shares listed on the Hong Kong Exchange. The SGX ADR Conversion Guide is enclosed for your reference.

If holders of the Company's ADRs do not take any action by 20 September 2022, CDP will liquidate the Company's ADRs held with CDP on 26 September 2022 and return the proceeds to investors. CDP will absorb the costs related to the sale.

Investors may also refer to the US Securities and Exchange Commission EDGAR, https://www.sec.gov/edgar.shtml, for the latest company filings.

Attachments

BNY Termination Notice 12 July 2022.pdf
Request for Cross Border Securities Transfer USA.pdf
SGX ADR CONVERSION GUIDE_May 2021.pdf
Total size =4836K