Global Bio-chem Technology Group Co. Ltd. (HK:0809) has released an update.
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Global Bio-chem Technology Group Co. Ltd has entered into a significant Energy Management Contract through its subsidiary Changchun Dahe, with the Modern Agricultural Fund to modernize its production facilities. Additionally, financial negotiations are underway with the state-backed Modern Agricultural Fund for a potential loan up to RMB 200 million, which may include guarantees from related parties. Shareholder approvals are being sought for these major transactions, which are connected transactions under the Listing Rules, necessitating an Extraordinary General Meeting (EGM) for final consent.
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