Brief: SOS Announces Joint Venture Agreement with Ronghe Affiliate

Sos

29/03/2021 14:25

March 29 (Reuters) - SOS Ltd  SOS.N :
    * SOS ANNOUNCES ENTRY INTO A JOINT VENTURE AGREEMENT WITH
RONGHE'S
AFFILIATE AIMING TO ESTABLISH A SUPERCOMPUTING CENTER IN QINGDAO
    * SOS LTD - UNIT ENTERED INTO JV AGREEMENT WITH QINGDAO
RONGHE
FINANCE HOLDING GROUP TO FORM A NEW JOINT VENTURE, SOS RONGHE
DIGITAL TECHNOLOGY CO., LTD.
    * SOS LTD - PURSUANT TO JV AGREEMENT, BOTH PARTIES ARE TO
CONTRIBUTE THEIR RESOURCES TO ESTABLISH A SUPERCOMPUTING CENTER
IN QINGDAO
    * SOS LTD - SOS HAS RIGHT TO APPOINT TWO OF THREE DIRECTORS,
CEO
AND CFO OF JOINT VENTURE
    * SOS LTD - REGISTERED CAPITAL OF JOINT VENTURE WILL BE
ABOUT $9.2
MILLION OF WHICH CO WILL CONTRIBUTE 51% AND RONGHE WILL
CONTRIBUTE 49%

Source text for Eikon:  ID:nPn42LZFGa 
Further company coverage:  SOS.N 

 ((Reuters.Briefs@thomsonreuters.com;))