CHALCO: China Aluminum, Yunnan Aluminium, and Kunming Copper intend to increase their capital in Yunnan Aluminum Foil by a total of 906.45 million yuan in cash or assets
CHALCO announced that its subsidiary Yunnan Aluminium Co., Ltd. plans to sign a capital increase agreement with Chalco High-end and Kunming Copper Industry, with a total capital increase of 906.45 million yuan. Chalco High-end will contribute 229 million yuan, Yunnan Aluminium will contribute 500 million yuan, and Kunming Copper Industry will contribute 177.45 million yuan. After the capital increase, the registered capital of Yunnan Foil will increase to 1.147 billion yuan, with the equity structure being Chalco High-end 68.31%, Yunnan Aluminium 16.70%, and Kunming Copper Industry 5.93%
According to the announcement from China Aluminium (02600), the company's ninth board of directors' fifth meeting has approved that its subsidiary Yunnan Aluminium Co., Ltd. (Yunnan Aluminium) plans to enter into a capital increase agreement with China Aluminium Group High-end Manufacturing Co., Ltd. (China Aluminium High-end), Northwest Aluminium Co., Ltd. (Northwest Aluminium), Zhongtong (Kunming) Copper Co., Ltd. (Kunming Copper), and China Aluminium Foil (Yunnan) Co., Ltd. (Yunnan Aluminium Foil). Accordingly, China Aluminium High-end, Yunnan Aluminium, and Kunming Copper intend to increase the capital of Yunnan Aluminium Foil by a total of RMB 906.45 million in cash or assets, of which China Aluminium High-end will contribute RMB 229 million in cash, Yunnan Aluminium will contribute RMB 500 million in cash, and Kunming Copper will contribute RMB 177.45 million in cash and assets (including RMB 89 million in cash and RMB 88.45 million in assets, including land use rights and related debts). Northwest Aluminium will not participate in this capital increase.
Upon completion of this capital increase, the registered capital of Yunnan Aluminium Foil will increase from the current RMB 800 million to RMB 1.147 billion, with China Aluminium High-end, Northwest Aluminium, Yunnan Aluminium, and Kunming Copper holding 68.31%, 9.06%, 16.70%, and 5.93% of the equity, respectively.
As of the date of this announcement, Yunnan Aluminium is a subsidiary of the company, China Aluminium Group is the controlling shareholder of the company, and China Aluminium High-end, Northwest Aluminium, Kunming Copper, and Yunnan Aluminium Foil are all subsidiaries of China Aluminium Group
