Jinyuan EP Co., Ltd. cancelled the acquisition of 49% stake in Tibet Ali Liyuan Mining Development Co., Ltd from Liu Yan, Liu Tuo and Jia Bu.
December 09, 2022
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Jinyuan EP Co., Ltd. (SZSE:000546) agreed to acquire 49% stake of Tibet Ali Liyuan Mining Development Co., Ltd from Liu Yan, Liu Tuo and Jia Bu on May 31, 2022. The estimated value and transaction price of the underlying assets of this transaction have not yet been determined. In this transaction, the listed company intends to purchase the underlying assets held by the counterparty through a combination of issuing shares and paying cash. The transaction plan has been reviewed and approved at the 16th meeting of the 10th board of directors of the listed company. The formal plan of this transaction needs to be reviewed and approved by the board of directors of the listed company, The transaction plan and related equity transfer matters need to be reviewed and approved by the shareholders meeting of the target company, This transaction plan needs to be reviewed and approved by the general meeting of shareholders of the listed company, This transaction is subject to the approval of the China Securities Regulatory Commission.
Jinyuan EP Co., Ltd. (SZSE:000546) cancelled the acquisition of 49% stake in Tibet Ali Liyuan Mining Development Co., Ltd from Liu Yan, Liu Tuo and Jia Bu on December 09, 2022. The board of Jinyuan EP has approved termination of transaction.
Jinyuan EP Co.,Ltd. is a China-based company mainly engaged in the manufacture and sales of building materials, as well as environmental protection business. The Company is engaged in the manufacture and sales of clinker, cement and commercial concrete. The Company is also engaged in comprehensive utilization and harmless disposal of solid and hazardous waste resources. The Company mainly conducts its businesses in domestic markets, including Jiangxi, Qinghai and Guangdong provinces, as well as Tibet Autonomous Region and others.