Sinochem Fertilizer (00297.HK) announced that Sinochem Fertilizer, Qinghai Salt Lake and Sinochem Capital Investment signed a sponsor agreement on December 7 this year (today).

According to the promoters' agreement finally signed by the parties, each shareholder of the joint venture company shall pay cash contribution within 20 working days after the joint venture company has obtained the business license, while Sinochem shall hand over the physical assets to the joint venture company within 20 working days after the joint venture company has obtained the business license and completed the procedures for the evaluation and filing of the state-owned assets of the relevant target assets, and go through the relevant formalities for the change of the intellectual property owner.