South Manganese Investment Enters Framework Agreements with Guangxi Dameng

South Manganese Investment Limited ( (HK:1091) ) has shared an announcement.

South Manganese Investment Limited has entered into two framework agreements with Guangxi Dameng for the sale and purchase of manganese ores and related products from March 2025 to December 2027. These agreements, which involve significant transactions due to the percentage ratios exceeding 5%, require independent shareholders’ approval and are subject to announcement, reporting, and annual review requirements under the Hong Kong Listing Rules. An Extraordinary General Meeting (EGM) will be held for independent shareholders to consider and approve these agreements, with Guinan Dameng abstaining from voting due to its material interest. An independent board committee and financial adviser will be appointed to guide the shareholders, and a circular detailing the agreements will be dispatched by the end of March 2025.

More about South Manganese Investment Limited

South Manganese Investment Limited is a company incorporated in Bermuda, primarily engaged in the production and sale of manganese ores and related products. The company operates in the mining industry, with a focus on leveraging its resources and market presence to strengthen its position in the manganese sector.

YTD Price Performance: -22.50%

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: €140.2M

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