TORONTO, Dec. 24, 2012 /CNW/ - Chengdu Tianqi Industry (Group) Co., Ltd.
("Tianqi"), Windfield Holdings Pty Ltd ("Windfield"), a wholly-owned subsidiary of Tianqi and Sichuan Tianqi Lithium
Industries, Inc., another subsidiary of Tianqi that is listed on the
Shenzhen Stock Exchange under the ticker symbol "002466" ("Tianqi Lithium", and together with Tianqi and Windfield, the "Tianqi Group"), today announced that they have agreed to effect an inter-corporate reorganization (the "Reorganization") pursuant to which Windfield will transfer all of the ordinary shares
("Shares") of Talison Lithium Limited ("Talison") held by them to Tianqi Lithium. Completion of the Reorganization is
subject to applicable Chinese and Australian regulatory approvals.
Upon completion of the Reorganization, the Tianqi Group will continue to
own or control 22,878,033 Shares, or 19.99% of the issued and
outstanding Shares (calculated on a non-diluted basis and based on
114,390,171 Shares issued and outstanding, based on the share registry
provided by Talison). In the event that Windfield's proposed
acquisition of Talison is completed, pursuant to the terms of the
agreement entered into in connection with the Reorganization, the
additional Shares acquired by Tianqi would also be transferred to
An early warning report will be filed on SEDAR and will be available for
review at www.sedar.com under Talison's profile.
Tianqi's financial adviser is RedBridge Grant Samuel, its tax and
accounting adviser is PricewaterhouseCoopers, and its legal advisers
are Linklaters and ZhongLun in China, Allens in Australia and Stikeman Elliott in Canada.
Further Information About Tianqi:
Tianqi is a privately held Chinese company founded in 2003. Its business activities are primarily conducted through the following
Sichuan Tianqi Lithium Industries, Inc. - a Chinese company listed on the Shenzhen Stock Exchange, engaged in
the production of lithium carbonate and other lithium products from
chemical-grade lithium concentrates sourced from Talison;
Sichuan Tianqi Industry Co., Ltd. - a distributor of technical grade lithium concentrates, as the sole
distributor for Talison in China;
Chengdu Tianqi Machinery - provides spare parts and accessories for machinery and electrical
equipment used in the construction, packing and agriculture sectors;
Chengdu Sendasun Agricultural Machinery Co., Ltd. - undertakes research, development, manufacturing and sales of
Tianqi and its subsidiaries conduct their operations mainly from China,
but have customers, business partners and suppliers in various
countries around the world, including Europe, Australia, the United
States and Japan.
More information about Tianqi is available from the following website: www.tianqigroup.cn/en/Index/aboutus.html
SOURCE: Chengdu Tianqi Industry Group Co., Ltd
For further information:
Greg Baxter, Kreab Gavin Anderson
+61 2 9552 4499
+61 419 461 368
Joshua Goldman-Brown, Kreab Gavin Anderson
+1 646 490 2767