On 9 December 2015, China Resources Cement Investments Ltd., Kunming Iron & Steel Holding Co. Ltd. and Yunnan Cement Group Co. Ltd. entered into a Supplemental Agreement. The agreement was to amend certain terms and conditions of the Capital Increase and Subscription Agreement, which took place between the three parties on13 September 2015, as separately disclosed under significant event on 14 September 2015. According to the Supplemental Agreement, CRC Investments is to make an additional capital contribution of RMB57 302 133 in cash, subject to adjustment, to Yunnan Cement Group, Following the completion of the additional capital contribution, Yunnan Cement Group Co. will be held jointly by CRC Investments and Kunming Iron & Steel Holding, with 50% held by each company.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/asia-pacific-rim/17122015/crc-investments-enters-into-supplemental-agreement-205/