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Shanshui Cement investors vote to oust directors

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World Cement,

Bloomberg has reported that investors in the China Shanshui Cement Group Ltd have voted to drive out directors including Chairman Zhang Bin.

The move to oust the directors passed with 96% in favour at an extraordinary general meeting held in Hong Kong on 1 December 2015.

Shanshui failed to pay 2 billion yuan (US$312.6 million) of onshore debentures in November, becoming at least the sixth Chinese firm to default in the local bond market this year.

Edited from source by Joseph Green. Source: Bloomberg

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