Brief: Global Internet Of People Inc Enters Into An Investment Agreement To Form A Joint Venture To Produce High-Grade Lithium-Ion Power Battery Materials

E-Power

07/04/2022 12:34

April 7 (Reuters) - Global Internet of People Inc  SDH.O :
    * GLOBAL INTERNET OF PEOPLE, INC. ENTERS INTO AN INVESTMENT
AGREEMENT TO FORM A JOINT VENTURE TO PRODUCE HIGH-GRADE
LITHIUM-ION POWER BATTERY MATERIALS
    * GLOBAL INTERNET OF PEOPLE INC - UNIT  ZHUHAI INVESTMENT
CO.,
LTD. HAS ENTERED INTO AN INVESTMENT AGREEMENT TO FORM A JOINT
VENTURE
    * GLOBAL INTERNET OF PEOPLE INC - ZHUHAI WILL OWN 51% EQUITY
INTEREST IN JV
    * GLOBAL INTERNET OF PEOPLE - HUIYANG, SHENHE, YILONG
INVESTMENT,
GUANGYAO, FUHE WILL OWN A STAKE OF 12.50%, 12.50%, 4%, 10% AND
5% IN JV, RESPECTIVELY
    * GLOBAL INTERNET OF PEOPLE INC - EIGHT INDIVIDUAL
SHAREHOLDERS OF
JV TOGETHER WILL OWN AN AGGREGATED 5% EQUITY INTEREST IN JV
    * GLOBAL INTERNET OF PEOPLE INC -  JV WILL BE ESTABLISHED
WITH A
TOTAL INVESTMENT AMOUNT OF UP TO RMB620 MILLION ($98.13 MILLION)
    * GLOBAL INTERNET OF PEOPLE - PURSUANT TO AGREEMENT, ZHUHAI
SHALL
BE RESPONSIBLE FOR OPERATION OF JV, WITH ASSISTANCE AND SUPPORT
OF OTHER SHAREHOLDERS

Source text for Eikon:  ID:nGNX2Vqllm 
Further company coverage:  SDH.O 

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