Provided by: International CSRC Investment Holdings Co.,
SEQ_NO
1
Date of announcement
2021/12/17
Time of announcement
17:49:44
Subject
Announcement of the Company��s BOD resolution on
the significant investment plan
Date of events
2021/12/17
To which item it meets
paragraph 15
Statement
1.Date of the resolution of the board of directors or
shareholders meeting:2021/12/17
2.Content of the investment plan:To support the capital needs of the plant
construction and working capital of the Company��s India subsidiary,
Continental Carbon Eco Technology Private Limited�]��CCET���^, it was
approved by BOD to fully authorize the chairman or designated deputy to
decide adopting one of the below investment plan.
1)The Company will have capital injection to CSRC (BVI) Ltd. amounting to
USD 60,000 thousand and CSRC (BVI) Ltd. will increase investment in
CSRC (Singapore) Pte. Ltd. at the same amount. Then CSRC (Singapore) Pte.
Ltd. will increase capital to CCET at the same amount as well. or
2)The Company��s overseas subsidiary, Synpac (North Carolina), Inc., will
lend funds to CSRC (BVI) Ltd. amounting to USD 60,000 thousand. CSRC (BVI)
Ltd. will increase investment in CSRC (Singapore) Pte. Ltd. at the same
amount. Then CSRC (Singapore) Pte. Ltd. will increase capital to CCET at
the same amount as well.
3.Projected monetary amount of the investment:USD 60,000 thousand�]equivalent
to NTD 1,671,000 thousand using exchange rate 27.85 for translation�^
4.Projected date of the investment:The date chairman or designated deputy
decided.
5.Source of capital funds:The funds come from the Company or the Company��s
overseas subsidiary, Synpac (North Carolina), Inc.. It will depend on the
investment plan decided by the Company��s chairman or the designated deputy.
6.Specific purpose:The investment plan was resulting from the increase in
plant construction cost in India due to the soaring global material cost
and manpower deployment impacted by COVID-19. According to the evaluation
of India plant construction status and consideration of working capital
needs, investment amount will increase by USD 60,000 thousand.
7.Any other matters that need to be specified:
1)After the final investment plan is decided by the Company��s chairman or
the designated deputy, the related material information will be announced
based on the regulation.
2)The investment amount in CCET for CAPEX and working capital during the
plant construction approved by the Company��s Board of Directors was USD
269 million.
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Disclaimer
China Synthetic Rubber Corporation published this content on 17 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2021 09:58:05 UTC.
International CSRC Investment Holdings Co., Ltd., formerly CHINA SYNTHETIC RUBBER CORPORATION, is principally engaged in the manufacture and distribution of carbon black. The Company's carbon black is mainly applied in the manufacture of rubber products, such as tires, conveyor belts and other products. The Company is also engaged in the manufacture and trading of pharmaceuticals, the provision of biotechnological services, as well as the production and assembling of battery cells and battery packs. The Company distributes its products within domestic market and to overseas markets.
INTERNATIONAL CSRC INVESTMENT HOLDINGS CO., LTD. 
