Taizhou Water (01542) to invest 37.5 million yuan to Zhuxi Reservoir

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Taizhou Water (01542) to invest 37.5 million yuan to Zhuxi Reservoir

2022-01-23 18:02:33 34 ℃

Zhitong Financial App News, Taizhou Water (01542) Release Announcement, January 21, 2022 Increasing to 950 million yuan, and the shareholders who made the Zhuxi Reservoir development must be funded in accordance with the proportion of existing equity developed by Zhuxi Reservoir. After the completion of the investment, the total capital of the company will increase by 200 million yuan to 238 million yuan, and the company's share options developed in Zhuxi Reservoir will remain at 25%, and Zhuxi Reservoir will continue to be the company. Associates.

According to the funds resolution, the company will invest an additional amount of 37.5 million yuan to Zhuxi Reservoir in cash, which is expected to pay for it before 31 March 2022.

Zhuxi Reservoir is developed as a project company, mainly engaged in the construction and management of Zhuxi Reservoir, with 25% of the company in this announcement date.

According to the announcement, Zhuxi Reservoir was developed as a project company of Zhuxi Reservoir. The Zhuxi Reservoir is currently under construction, and it is expected to be completed in 2023. The company has the right to puminate the water after the Zhuxi Reservoir. In view of the current progress of the Zhuxi Reservoir, Zhuxi Reservoir is considered necessary to obtain additional funds to support the undergoing construction project. The Directors believe that the development of investment in Zhuxi Reservoir is to promote the construction of the Zhuxi Reservoir in accordance with the company's interests, and the move is expected to realize the company's stable financial return. Taking into account the above factors, the Directors believe that the provisions of the invested will be fair and reasonable, and in line with the overall interests of the company and shareholders.