Hainan Mining(SH:601969) Zheng Quan Zhi Xing·2025-06-30 16:34Meeting Overview - The fifth meeting of the board of directors of Hainan Mining Co., Ltd. was held on June 30, 2025, with all 11 directors present, complying with relevant laws and regulations [1]. Loan Approval - The board approved a proposal for Roc Oil Company Pty Limited, a wholly-owned subsidiary, to apply for a loan of 600 million RMB from China Merchants Bank and up to 200 million USD from a syndicate of banks, including Standard Chartered Bank, Hang Seng Bank, and Qatar National Bank [1][2]. - The loans will be used to pay for the acquisition of shares in Tethys Oil AB and for capital expenditures and operating funds for new projects [1]. Collateral Details - The club loan will be secured by 100% equity of Roc Oil Company Pty Limited and its seven wholly-owned subsidiaries, with additional collateral if the loan exceeds 150 million USD [2]. - The total assets pledged for the equity pledge and collateral exceed 30% of the company's most recent audited total assets [3]. Financial Health - The company and Roc Oil are reported to have stable operations and good cash flow, indicating strong debt repayment capability without significant risk of default [3]. Board Committee Update - The board approved the addition of Ms. Zhou Hongxia to the Strategic and Sustainable Development Committee, Nomination Committee, and Compensation and Assessment Committee, effective immediately [3].