Panjiang Refined Coal plans to acquire 54.9% equity of Pannan Company

On the evening of May 12, Panjiang Refined Coal announced that after preliminary negotiation between the company and the controlling shareholder, it proposes to transfer Panjiang Holdings to hold 54.Asian Metal Copyright89 million.Asian Metal Copyright90% of the equity of Guizhou Pannan Coal Development Co.Asian Metal Copyright .Asian Metal Copyright, Ltd.Asian Metal CopyrightOn the evening of May 12, Panjiang Refined Coal announced that after preliminary negotiation between the company and the controlling shareholder, it proposes to transfer Panjiang Holdings to hold 54.Asian Metal Copyright (Pannan Company"), and sign the Intention Agreement on Equity Transfer.Asian Metal CopyrightOn the evening of May 12, Panjiang Refined Coal announced that after preliminary negotiation between the company and the controlling shareholder, it proposes to transfer Panjiang Holdings to hold 54.Asian Metal Copyright If the transaction is completed, it will help to solve the inter-company competition and related transactions between Pannan Company and the company, and help to improve the scale of the company's coal production capacity.

It's learnt that Pannan Company was established in August 2003 with a registered capital of RMB615 million (USD86.89 million).Asian Metal Copyright Its main businesses are raw coal mining, washing and processing, and sales.Asian Metal Copyright Its main businesses are raw coal mining, washing and processing, and sales.

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