OREANDA-NEWS. July 07, 2014. Reference is made to the announcement dated 27 May 2013 and the circular dated 31 May 2013 (the “Circular”) of China Taiping Insurance Holdings Company Limited (the “Company”) in relation to, amongst other things, the proposed acquisition by the Company of the assets from China Taiping Insurance Group Ltd. (formerly known as China Taiping Insurance Group Co.) and China Taiping Insurance Group (HK) Company Limited as contemplated under the framework agreement dated 27 May 2013.

Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Circular. As the transfer of shares of TP UK and TP Indonesia are still in the process of obtaining the necessary approvals from the governmental departments or regulatory authorities of the relevant jurisdictions, on 30 June 2014, the Company, TPG and TPG(HK) agreed to extend the CP Long Stop Date from 30 June 2014 to 31 December 2014. TP UK and TP Indonesia are two of the Overseas P&C Targets, representing a total of 22,112,691 Consideration Shares, which constitutes approximately 2.6% of the total Consideration Shares. The Company believes that there should be no material hurdle for the approval of the transfer of the relevant shares of the said companies and is confident that the relevant approvals can be obtained before the extended CP Long Stop Date.

As at the date hereof, the completion of the transfers of the Tranche A and Tranche B have taken place and a total of 724,135,576 Consideration Shares for the Tranche A Targets and Tranche B Targets have been issued by the Company to TPG(HK) in February and March 2014 pursuant to the Framework Agreement.

The remaining 138,599,694 Consideration Shares for the Tranche C Targets will be issued on the Tranche C Completion Date.