Zangge Mining modifies control transfer agreement; adds shareholder

Zangge Mining (SZSE:000408) announced an update to its proposed change of control, including the signing of a supplemental agreement. The key change involves adding Xiao Yongming as a transferor, adjusting the share transfer amounts from Zangge Venture Capital accordingly, while keeping the total transfer unchanged. This comes after the company completed cancellation of repurchased shares, reducing total shares to 1,570,225,745. As per the supplemental agreement, Zangge Venture Capital will transfer 195,503,110 shares, and Xiao Yongming will transfer 54,957,901. Zangge Venture Capital will also pledge its 19 million shares in Zangge Mining and its equity in Tibet Xianglong Mining Development. The payment structure has also been adjusted with funds to be deposited and managed in a joint account with the first tranche of CNY 1,372,874,541.5 paid. The transaction remains subject to regulatory approvals and the company asks investors to be aware of the uncertainties.