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General concern for the market to obtain the West Tinto mining rights issues, mergers and acquisitions, general manager of Tao Yuan Securities, said: “West Extension wholly owned subsidiary of Mines and Mining of loess slope made all the phases of certification and approval documents , to be injected into the subject of mining assets have separately obtained the exploration permit issued by Ministry of Land and Natural Resources Office of the Xinjiang Autonomous Region warrants issued by the mining and mineral resources through the Ministry of Land chanel
Resources Assessment for the record; the same time, all the intermediaries and the West Tinto Huangtupo mining subsidiaries conducted field visits and due diligence. It should be said, the work of the intermediaries is quite solid. ”
Tinto completed the acquisition of the West, the Xinjiang government’s strong support of the investment holding subsidiary of Cadillac Cadillac Mining decided to expand the mining assets into the West Tianshan Textile and chanel bags
improve its asset quality, and enhance profitability.
Placed in the West Tianshan Textile Tinto, it means that the West Tinto gave up opportunities for future self-listed, leading to the loss of some benefits. In this regard, Zhang Qiang, deputy general manager of Cadillac investment, said: “We have the overall situation. Tianshan Textile defuse the risk from and maintain social stability point of view, the regional government requested can not exit the wool textile industry, workers can not be laid off. Restructuring scheme assets to be placed have a high capacity to sustain the profitability of future performance of listed companies to ensure the stable development of listed companies. If the mere holding of our subsidiaries held by Cadillac West Tinto Mining and 50% of shares into listed companies on the West Tianshan Textile Tinto can not form absolute control, can not ensure the interests of listed companies. ”
However, Fu Min Lu and Qinghai Snow Chi representative was very shocked for not involved in the reorganization, or even to restore the status quo option. Qinghai Snow Chi’s lawyers said the king: “Cadillac investment is suddenly informed us with the Tianshan Textile restructuring, and seek to amend the previous agreement, ‘self-listed’ agreement, and tell us the Tianshan Textile government-led restructuring has been irreversible, We are communicating in many consultations, and fully understand the significance of autonomous region, after the reorganization, the idea of consent for the overall situation. ”
To make a significant contribution to the West Tinto shareholders to pay Paul because of the people is the Australian Chinese, according to relevant laws and regulations can not participate in this restructuring, the equity therefore not as the subject of assets into the listed company.