2010-02-11
On February 9th, the 15th meeting of the 3rd board of directors of Tongwei Co., Ltd was held by an integration of on-site conference and teleconference in Tongwei’s headquarter. Liu Hanyuan, board chairman of Tongwei Co., Ltd, Guan Yawei, company director and general manager, Xu Anlong, independent director, Li Gaofei, secretary of the board presented. Yan Baoquan, chairman of supervisory board, Yuan Shihua, CFO, and relevant senior executives presented. Intermediaries including Sino-Link Securities, Huaxin CPA and King& Wood Lawyers attended the conference. Board directors Ma Chaoming, Wang Ruojun and independent directors Wang Bing, Gan Shengdao attended the conference through telephone.
The conference passed 7 bills including Bill on The Transfer of Shares in Sichuan Yongxiang Co., Ltd., Bill on the Company's Non-public Offering of Shares, Report on the Use of the Funds Raised on the Previous Phrase.
It is known that 50% of Yongxiang’s shares are transferred to Tongwei Group in order to integrate resources to make Tongwei Co., Ltd focus on feed products to keep its leading place in domestic and foreign markets. After the transference, Tongwei Co., Ltd will adjust industrial structure according to the market to be the leading agricultural company with aquatic feed as its main products as well as the production of animal feed, culture and processing of aquatic animals, research on animal nutrition and animal medicines.
Meanwhile, the investors of the non-public offerings of shares include less than 10 investors in line with the provisions of China Securities Regulatory Commission. The funds raised through the this non-public offering of shares will be used to build feed plants and raw material bases, including 11 projects, one of which is in Lian Yungang with annual production of 240,000 and Yushu material base in Jilin.