Zhitong Finance APP Newscarolinabingo, Conch Cement (600585)(00914) announced that on April 9, 2024, after review and approval by the board of directors of Anhui Conch Cement Co., Ltd., Anhui Conch Environmental Protection Group Co., Ltd., a non-wholly owned subsidiary of the company, plans to register and issue no more than RMB 3 billion yuan (including 3 billion yuan) medium-term notes, and the company will provide guarantees for them. Up to now, the above matters have not been reviewed and approved by the company's shareholders 'meeting, and the company has not signed any guarantee agreement on the above matters.
Because of Conch Environmental Protection GroupcarolinabingoOther shareholders are unable to provide counter-guarantees to the company's guarantees. According to the "Notice of the Provincial State-owned Assets Supervision and Administration Commission on Strengthening the Management of Financing Guarantees for Provincial Enterprises"(Wan Guozheng Property Rights [2022] No. 34) Regarding the requirements for strict control of guarantees over the share ratio, upon review and approval by the board of directors on May 16, 2024, the company decided to cancel the plan to provide full joint liability guarantee for Conch Environmental Protection Group to register and issue medium-term notes. The "Proposal on the Registration and Issuance of Medium-term Notes by Subsidiaries and the Company's Guarantees for them" submitted to the shareholders 'meeting for review was changed to "Proposal on the Registration and Issuance of Medium-term Notes by a Subsidiary Anhui Conch Environmental Protection Group Co., Ltd.".
As of the disclosure date of this announcement, this guarantee plan has not yet been implemented. The company's cancellation of this guarantee plan will not harm the interests of the company and all shareholders, nor will it have a significant impact on Conch Environmental Protection Group's qualification to apply for registration of medium-term notes.
