CITIC RESOURCES (01205) has announced its intention to seek prior shareholder approval at an extraordinary general meeting for a disposal mandate. This mandate would authorize the board of directors to sell, during the authorized period, a maximum of (i) 1,691,918 Alcoa depositary receipts and (ii) 551,306 Alcoa shares. Combined, these represent approximately 0.86% of Alcoa's total issued share capital. The minimum selling price has been set at USD 50 per Alcoa share. As of the date of this announcement, the group holds approximately 1.58% of Alcoa through its holdings of Alcoa shares (traded on the NYSE) and Alcoa depositary receipts (traded on the ASX, which are convertible into Alcoa shares traded on the NYSE). This equity interest in Alcoa is classified as a financial asset carried at fair value through other comprehensive income within the group's accounts. In light of current market conditions, the board believes the proposed disposal will enable the group to realize its investment in Alcoa, thereby enhancing overall liquidity and rebalancing the group's investment portfolio. Furthermore, the disposal will provide the group with greater flexibility to reallocate its resources.