Jiangxi Copper Company (HK:0358) has released an update.
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Jiangxi Copper Company Limited has announced its Shareholder Rights Agreement with First Quantum Minerals Ltd. (FQM), securing director nomination rights and stipulations regarding share disposition. As a significant shareholder with 18.47% of FQM, Jiangxi Copper establishes terms for potential director appointments and agrees to a standstill provision limiting further shareholding increases or board influence. The agreement also outlines conditions for Jiangxi Copper in the event of selling its FQM shares, including restrictions on sales to any single third party accumulating over 9.9% of FQM’s issued shares.
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