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Proposals for General Mandates to Buy Back Shares and to Issue Shares and Re-Election of Retiring Directors and Notice of Annual General Meeting

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Proposals for General Mandates to Buy Back Shares and to Issue Shares and Re-Election of Retiring Directors and Notice of Annual General Meeting THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. If you have sold all your shares in China Resources Beer (Holdings) Company Limited, you should at once hand this circular and the accompanying form of proxy to the purchaser or to the bank, stockbroker or other agent through whom the sale was effected for transmission to the purchaser. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular. (Incorporated in Hong Kong with limited liability) (Stock Code: 291) PROPOSALS FOR GENERAL MANDATES TO BUY BACK SHARES AND TO ISSUE SHARES AND RE-ELECTION OF RETIRING DIRECTORS AND NOTICE OF ANNUAL GENERAL MEETING The notice convening the Annual General Meeting of China Resources Beer (Holdings) Company Limited to be held at 50th Floor, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong on Thursday, 24 May 2018 at 3:30 p.m. is set out on pages 13 to 17 of this circular. Whether or not you are able to attend the meeting, you are requested to complete and return the accompanying form of proxy in accordance with the instructions printed thereon as soon as possible and in any event not less than 48 hours before the time appointed for holding the Annual General Meeting. Completion of the proxy form and its return will not preclude you from attending and voting at the Annual General Meeting if you so wish. Hong Kong, 23 April 2018 DEFINITIONS In this circular, the following expressions have the following meanings unless the context requires otherwise: “Annual General Meeting” the annual general meeting of the Company to be held at 50th Floor, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong on Thursday, 24 May 2018 at 3:30 p.m., notice of which is set out on pages 13 to 17 of this circular “Articles of Association” the articles of association of the Company “Board” the board of Directors of the Company “Buy-back Proposal” the proposal to give a general mandate to the Directors to exercise the powers of the Company to buy back Shares during the period as set out in the Buy-back Resolution up to a maximum of 10% of the issued Shares at the date of the Buy-back Resolution “Buy-back Resolution” the ordinary resolution proposed under item no. 5 of the notice of the Annual General Meeting “China” or “PRC” the People’s Republic of China “Companies Ordinance” the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) “Company” China Resources Beer (Holdings) Company Limited, a company incorporated in Hong Kong with limited liability whose Shares are listed on the Main Board of the Stock Exchange (Stock Code: 291) “CRC” China Resources Company Limited (formerly known as China Resources National Corporation), a company incorporated in the PRC, is the ultimate holding company of the Company “Director(s)” the director(s) of the Company “Group” the Company and its subsidiaries “HK$” Hong Kong dollar(s), the lawful currency of Hong Kong –1– DEFINITIONS “Hong Kong” the Hong Kong Special Administrative Region of the PRC “Latest Practicable Date” 17 April 2018, being the latest practicable date prior to the printing of this circular for ascertaining certain information contained herein “Listing Rules” the Rules Governing the Listing of Securities on the Stock Exchange “RMB” Renminbi, the lawful currency of PRC “Securities and Futures the Securities and Futures Ordinance (Cap. 571 of the Ordinance” Laws of Hong Kong) “Share(s)” share(s) of the Company with no par value “Share Buy-back Rules” the relevant rules set out in the Listing Rules to regulate the buy-back or purchase by companies with primary listings on the Stock Exchange of their own securities on the Stock Exchange “Shareholder(s)” holder(s) of Shares “Stock Exchange” The Stock Exchange of Hong Kong Limited “Takeovers Code” The Code on Takeovers and Mergers –2– LETTER FROM THE CHAIRMAN (Incorporated in Hong Kong with limited liability) (Stock Code: 291) Directors: Registered Office: Executive Directors: 39th Floor Mr. CHEN Lang (Chairman) China Resources Building Mr. HOU Xiaohai (Chief Executive Officer) 26 Harbour Road Mr. LAI Po Sing, Tomakin (Chief Financial Officer) Wanchai Hong Kong Non-executive Directors: Mr. CHEN Rong Mr. LAI Ni Hium, Frank Independent Non-executive Directors: Mr. HOUANG Tai Ninh Dr. LI Ka Cheung, Eric Dr. CHENG Mo Chi, Moses Mr. Bernard Charnwut CHAN Mr. SIU Kwing Chue, Gordon Hong Kong, 23 April 2018 To the Shareholders, Dear Sir or Madam, PROPOSALS FOR GENERAL MANDATES TO BUY BACK SHARES AND TO ISSUE SHARES AND RE-ELECTION OF RETIRING DIRECTORS AND NOTICE OF ANNUAL GENERAL MEETING GENERAL MANDATE TO BUY BACK SHARES At the annual general meeting of the Company held on 25 May 2017, a general mandate was given to the Directors to exercise the powers of the Company to buy back Shares. Such mandate will lapse at the conclusion of the Annual General Meeting. It is therefore proposed to seek your approval of the Buy-back Resolution at the Annual General Meeting to give a fresh general mandate to the Directors to exercise the powers of the Company to buy back Shares. An explanatory statement as required under the Share Buy-back Rules to provide the requisite information of the Buy-back Proposal is set out in Appendix I to this circular. –3– LETTER FROM THE CHAIRMAN GENERAL MANDATE TO ISSUE SHARES It will be proposed at the Annual General Meeting two ordinary resolutions respectively granting to the Directors a general mandate to allot, issue and deal with Shares not exceeding 20% of the issued Shares at the date of the resolution (i.e. not exceeding 648,835,381 Shares based on 3,244,176,905 Shares in issue as at the Latest Practicable Date and assuming that such issued Shares remain the same at the date of passing the resolution) and adding to such general mandate so granted to the Directors any Shares representing the total number of the Shares bought back by the Company after the granting of the general mandate to buy back up to 10% of the issued Shares at the date of the Buy-back Resolution. RE-ELECTION OF RETIRING DIRECTORS As at the Latest Practicable Date, the Executive Directors of the Company are Mr. CHEN Lang, Mr. HOU Xiaohai and Mr. LAI Po Sing, Tomakin; the Non-executive Directors of the Company are Mr. CHEN Rong and Mr. LAI Ni Hium, Frank; and the Independent Non-executive Directors of the Company are Mr. HOUANG Tai Ninh, Dr. LI Ka Cheung, Eric, Dr. CHENG Mo Chi, Moses, Mr. Bernard Charnwut CHAN and Mr. SIU Kwing Chue, Gordon. Pursuant to Article 110 of the Articles of Association, Mr. HOU Xiaohai, Dr. LI Ka Cheung, Eric, Dr. CHENG Mo Chi, Moses and Mr. Bernard Charnwut CHAN will retire from office at the Annual General Meeting and, being eligible, will offer themselves for re-election. Dr. LI Ka Cheung, Eric, Dr. CHENG Mo Chi, Moses and Mr. Bernard Charnwut CHAN have served as independent non-executive Directors more than 9 years and their re-election will be subject to separate resolutions to be approved by the Shareholders. As independent non-executive Directors with in-depth understanding of the Company’s operations and business, Dr. LI, Dr. CHENG and Mr. CHAN have expressed objective views and given independent guidance to the Company over the years, and they continue demonstrating a firm commitment to their role. The Board considers that the long service of Dr. LI, Dr. CHENG and Mr. CHAN would not affect their exercise of independent judgment and is satisfied that Dr. LI, Dr. CHENG and Mr. CHAN have the required character, integrity and experience to continue fulfilling the role of independent non-executive Directors. The Board considers the re-election of Dr. LI, Dr. CHENG and Mr. CHAN as independent non-executive Directors is in the best interest of the Company and the Shareholders as a whole. Details of the retiring Directors proposed to be re-elected at the Annual General Meeting are set out in Appendix II to this circular. –4– LETTER FROM THE CHAIRMAN ANNUAL GENERAL MEETING Set out on pages 13 to 17 of this circular is the notice convening the Annual General Meeting. At the Annual General Meeting, resolutions will be proposed to the Shareholders, including re-election of retiring Directors, the Buy-back Proposal, the general mandate for Directors to issue new Shares and the extension of the general mandate to issue new Shares. ACTION TO BE TAKEN A form of proxy for use at the Annual General Meeting is enclosed with this circular. Whether or not you are able to attend the meeting, you are requested to complete and return the accompanying form of proxy in accordance with the instructions printed thereon as soon as possible and in any event not less than 48 hours before the time appointed for holding the Annual General Meeting. Completion of the form of proxy and its return will not preclude you from attending and voting at the Annual General Meeting if you so wish. VOTING BY WAY OF POLL Pursuant to Rule 13.39(4) of the Listing Rules, all votes at the Annual General Meeting will be taken by poll except where the chairman, in good faith, decides to allow a resolution which relates purely to a procedural or administrative matter to be voted on by a show of hands.
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