Gelonghui, April 11 | Ganfeng Lithium (01772.HK) announced that the 76th meeting of the 5th board of directors resolved. The meeting reviewed and passed the “Proposal on Foreign Financial Assistance by Holding Subsidiaries” with 10 votes in favor, 0 against, and 0 abstentions.
The financial support provided by the company is providing financial support to Shenzhen Luyuan Mining Investment Co., Ltd. through its holding subsidiary Shenzhen China Aviation Resources Co., Ltd. Other shareholders of Shenzhen Luyuan Mining Investment Co., Ltd. provided financial support according to their respective investment ratios, mainly for the construction and daily operation of the Bugumasi potash project in the Congo (Brazzaville) in Africa.
The use of this financial support is clear, and the repayment source is guaranteed. Shenzhen Luyuan Mining Investment Co., Ltd. has high asset quality, good business conditions and industry prospects, strong solvency, and good credit status. Therefore, the risks of the above financial support matters are within the company's manageable range, can effectively guarantee the safety of the company's funds, will not have a significant impact on the company's daily operations, there are no circumstances that harm the interests of the company and all shareholders, especially small and medium shareholders, and the decision-making process is legal and effective. Based on the above, the company agreed to this financial support.