Securities code: Shareate Tools Ltd(688257) securities abbreviation: Shareate Tools Ltd(688257) Announcement No.: 2022011 Shareate Tools Ltd(688257)
Announcement on the application for comprehensive credit line by the company and its subsidiaries
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Important content tips:
Shareate Tools Ltd(688257) (hereinafter referred to as “the company”) and its subsidiaries plan to apply to the bank for a comprehensive credit line with a total amount of no more than RMB 1 billion (both including new addition and renewal). The service life is from the date of deliberation and approval of the company’s 2021 annual general meeting to the date of holding the 2022 annual general meeting.
This matter shall be submitted to the general meeting of shareholders for deliberation.
1、 Basic information of credit
The company held the 9th meeting of the 4th board of directors and the 5th meeting of the 4th board of supervisors on April 19, 2022, deliberated and adopted the proposal on the application of comprehensive credit line by the company and its subsidiaries in 2022, and the independent directors expressed their independent opinions with explicit consent. Relevant matters are hereby announced as follows:
According to the capital requirements of the company’s production, operation and investment plan in 2022, in order to ensure the smooth progress of the company’s production and operation, reduce financing costs and improve capital operation capacity, In 2022 (from the date of deliberation and approval of the company’s annual general meeting in 2021 to the date of holding the annual general meeting in 2022), the company and its subsidiaries plan to apply to the bank for a comprehensive credit line with a total amount of no more than RMB 1 billion (both including new addition and renewal) for comprehensive credit business including but not limited to working capital loan, long-term loan, bank acceptance bill, letter of credit, letter of guarantee and so on, The financing period shall be subject to the actually signed contract. The above credit line is not equal to the actual financing amount of the company. The actual credit line is finally subject to the credit line approved by each bank, and the specific financing amount will be determined according to the actual needs of the company’s working capital.
In order to improve work efficiency and handle the financing business in time, according to the needs of the actual operation of the company, the board of directors of the company requests the general meeting of shareholders to authorize the chairman of the company to exercise the decision-making power of the business within the above credit line and sign relevant legal documents, and the finance department is responsible for handling relevant matters. No longer report to the board of directors for deliberation, and no longer issue the financing resolution of the board of directors for a single bank. The authorization period starts from the date of deliberation and approval of the company’s 2021 annual general meeting of shareholders to the date of holding the 2022 annual general meeting of shareholders. Within the authorization period, the above credit line can be recycled.
2、 Impact on the company
The company’s application for comprehensive credit is the need of operation and business development, which is in line with the overall interests of the company, does not have a significant impact on the normal operation of the company, and does not violate the relevant provisions of the company law and the articles of association. This year’s credit granting is fair and reasonable, without harming the interests of the company and shareholders.
It is hereby announced.
Shareate Tools Ltd(688257) board of directors April 20, 2022
