Sisha Taiyi 2016 stock distribution business successfully completed

Abstract On May 23, 2016, the company held an extraordinary general meeting of shareholders to review and approve the proposal on the “Stock Issuance Plan for Qingdao Sisha Taiyi Superhard Grinding Co., Ltd.”. The company intends to issue no more than 400 million shares (including 400...
On May 23, 2016, the company held an extraordinary general meeting of shareholders to consider and approve the proposal on the “Stock Issuance Plan for Qingdao Sisha Taiyi Superhard Grinding Co., Ltd.”. The company intends to issue no more than 400,000 shares (including 4 million shares) of RMB ordinary shares in a non-publicly issued manner at an issue price of RMB 3 per share. It is estimated that the raised funds will not exceed RMB 12 million (including RMB 12 million). It is mainly used for the construction of the company's blue ceramic corundum nanomaterial project and the return of the company's loans. The newly added shares were completed on August 25, 2016. The total number of newly registered shares was 4,000,000 shares, of which 1,725,000 shares were sold under restricted conditions and 2,275,000 shares were sold under unrestricted conditions. The transferable date of the new shares is August 26, 2016.

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