However, the delisting must also clear a majority with shareholders who own at least 75 per cent of all shares, while the concert group must abstain. The exit offer is subject to the approval of various Chinese authorities, and also needs shareholder approval at an extraordinary general meeting expected in the week of Dec 30. Citic Envirotech is an environmental solutions provider specialising in water and wastewater treatment, water supply and recycling. It is also in the business of sludge and hazardous waste treatment, along with river restoration.