Summary by Moomoo AI
Zhongxin Mining Co., Ltd. (“China Gold Mining”) announces that it has decided to exercise the right to exercise the right to compulsorily acquire the remaining shares of Tietto Minerals Limited (the “Target Company”) that have not been included in the prior agreement. This will give the fund capital 100% control over the target company. Previously, the fund held 90.72% of the voting rights of the target company at the closing of the deal. Under the Listing Rules, since the percentage of the transaction is greater than 5% but less than 25%, the acquisition is considered a disclosure transaction subject to the declaration and announcement requirements, but is exempt from shareholder approval. China Gold Mining will make further announcements after the acquisition is completed. The announcement was made by Chairman Jiang Guipeng on 24 May 2024.
