Zhong Ke San Huan Hi-tech terminates capital increase in China Southern Rare Earth
2020-11-18 15:12:40 [Print]
Zhong Ke San Huan Hi-tech announced that the company held a meeting on 17 November and approved the "proposal for terminating capital increase in China Southern Rare Earth Group Co., Ltd." and the "proposal for signing supplementary agreement and related transactions".
As Zhong Ke San Huan Hi-tech has a small number of foreign shareholders, the capital increase of Zhong Ke San Huan Hi-tech in China Southern Rare Earth goes against policies. Thus, Zhong Ke San Huan Hi-tech decided to terminate capital increase in China Southern Rare Earth after discussing with China Southern Rare Earth and its former shareholders repeatedly.
In addition, Zhong Ke San Huan Hi-tech signed a supplementary agreement with Ganzhou Rare Earth, Jiangxi Copper, Jiangxi Tungsten, China Southern Rare Earth and San Huan Xirong on San Huan Xirong's holding of another 5% equities of China Southern Rare Earth and other issues.
As Zhong Ke San Huan Hi-tech has a small number of foreign shareholders, the capital increase of Zhong Ke San Huan Hi-tech in China Southern Rare Earth goes against policies. Thus, Zhong Ke San Huan Hi-tech decided to terminate capital increase in China Southern Rare Earth after discussing with China Southern Rare Earth and its former shareholders repeatedly.
In addition, Zhong Ke San Huan Hi-tech signed a supplementary agreement with Ganzhou Rare Earth, Jiangxi Copper, Jiangxi Tungsten, China Southern Rare Earth and San Huan Xirong on San Huan Xirong's holding of another 5% equities of China Southern Rare Earth and other issues.
