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GEM plans to sell ECOPRO MAT stock assets

Views : 697
Author : XH-Nora
Update time : 2025-03-07 18:11:54
Recently, GEM (002340) issued an announcement disclosing that its wholly-owned subsidiary, Jingmen GEM New Materials Co., Ltd., plans to sell its holdings of ECOPRO MATERIALS CO., LTD. (ECOPRO MAT, stock code: 450080. KS).



1.
Shareholding and purpose of sale
Jingmen GEM New Materials Co., Ltd. currently holds 2,022,074 shares of ECOPRO MAT, representing 3% of the total share capital, which were subscribed for by ECOPRO MAT prior to its IPO12

The purpose of the sale is to maximize shareholder value, optimize GEM's asset structure, improve the liquidity and efficiency of assets, and meet the capital needs of the construction of Indonesia's green nickel resource park.

2.
ECOPRO MAT company profile
ECOPRO MAT was established in 2017 with a registered capital of KRW 35.163 billion, focusing on the production of cathode material precursors for lithium batteries.

3.
Sale Scenarios and Impacts
No more than 2,022,074 shares of ECOPRO MAT will be sold through a trading method permitted by the Korea Exchange, and the sale price will be determined according to market conditions.
There is no dispute over the rights of the sold stock assets such as mortgage and pledge, and there are no judicial measures.
The transaction will help optimize GEM's asset structure, improve liquidity and efficiency, maximize shareholder value, and will not harm the interests of the company and all shareholders.


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