CNNC Titanium White: Plans to acquire 100% equity interests in Shuangyang Phosphate Mine and Xintianxin Chemical for no more than 936 million yuan

 CNNC Titanium White announced on the evening of August 14 that the company plans to acquire 100% equity of Guizhou Kaiyang Shuangyang Phosphate Mine Co., Ltd. and Guizhou Xintianxin Chemical Co., Ltd. with self-raised funds of no more than 936 million yuan.

  The announcement shows that CNNC Huayuan Titanium Dioxide Co., Ltd. and Guizhou Kaiyang Shuangyang Phosphate Mine Co., Ltd., Guizhou Xintianxin Chemical Co., Ltd. and all their shareholders signed the "Equity Transfer Agreement on Guizhou Kaiyang Shuangyang Phosphate Mine Co., Ltd." and "Equity Transfer Agreement on Guizhou Xintianxin Chemical Co., Ltd." respectively, with a total of 478.11657279 million yuan, 44, 1.2977 million yuan was purchased for 100% equity of Shuangyang Phosphate Mine and Xintianxin Chemical (the final equity transfer price will be adjusted according to the matters agreed in the equity transfer agreement and supplementary audit results). After the completion of this transaction, the company holds 100% equity in Shuangyang Phosphate Mine and Xintianxin Chemical. Shuangyang Phosphate Mine and Xintianxin Chemical have become wholly-owned subsidiaries of the company and are included in the scope of the company's consolidated statements.
  This equity acquisition is within the approval authority of the board of directors of CNNC Huayuan Titanium Dioxide Co., Ltd. based on individual transaction and cumulative calculation principles, and does not need to be submitted to the company's shareholders 'meeting for review. This transaction does not constitute a connected transaction, nor does it constitute a material asset reorganization as stipulated in the "Measures for the Management of Material Asset Reorganizations of Listed Companies". This transaction has been reviewed and approved at the 13th (interim) meeting of the seventh board of directors of the company.