Orient Zirconia entrusted to manage relative assets of Lomon Billions
2020-01-16 16:30:51 [Print]
Orient Zirconia announced on January 15th that Lomon Billions, its largest share holder, agreed to entrust it to manage assets, personnel, production and business operation related to zirconium oxychloride and zirconium dioxide production lines of the latter in order to solve competition issues
In addition, Lomon Billions and Feng Liming, the Board of Director of Orient Zirconia, agreed to entrust their respective 21.30% and 34 . 50% shares of Jiaozuo Weina Technology Co . , Ltd . to Orient Zirconia, except the rights to gain revenues, dissolve the company (Jiaozuo Weina Technology Co . , Ltd . ), liquidate and distribute and dispose of the rest properties (including pledge right) . Jiaozuo Weina Technology Co . , Ltd . is mainly engaged in import and export of goods and technology, sales of chemical products, processing, wholesale and sales of automotive parts and other business.
This custody agreement is valid for one year. The annual custody fee of zirconium oxychloride and zirconium dioxide production lines does not exceed RMB500,000 (USD7,263), and the annual custody fees of 21 . 30% and 34 . 50% shares of Jiaozuo Weina Technology Co . , Ltd . do not exceed RMB50,000 (USD7,263) and RMB80,000 (USD11,621) respectively.
. During the period, Lomon Billions will have the rights to dispose of assets and gain revenues, while Orient Zirconia will fulfill and assume management responsibilities.In addition, Lomon Billions and Feng Liming, the Board of Director of Orient Zirconia, agreed to entrust their respective 21.30% and 34 . 50% shares of Jiaozuo Weina Technology Co . , Ltd . to Orient Zirconia, except the rights to gain revenues, dissolve the company (Jiaozuo Weina Technology Co . , Ltd . ), liquidate and distribute and dispose of the rest properties (including pledge right) . Jiaozuo Weina Technology Co . , Ltd . is mainly engaged in import and export of goods and technology, sales of chemical products, processing, wholesale and sales of automotive parts and other business.
This custody agreement is valid for one year. The annual custody fee of zirconium oxychloride and zirconium dioxide production lines does not exceed RMB500,000 (USD7,263), and the annual custody fees of 21 . 30% and 34 . 50% shares of Jiaozuo Weina Technology Co . , Ltd . do not exceed RMB50,000 (USD7,263) and RMB80,000 (USD11,621) respectively.