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Neway CNC Equipment's Actual Controllers Renew Acting-In-Concert Agreement

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Neway CNC Equipment Suzhou's (SHA:688697) actual controllers renewed their acting-in-concert agreement on Wednesday, Sept. 16, according to a Thursday disclosure on the Shanghai bourse.

Under the deal, the actual controllers, Wang Baoqing, Cheng Zhangwen, Lu Bin and Xi Chao, will continue to jointly control the Chinese machinery equipment maker.

The actual controllers will also engage in full consultation before exercising their voting rights and their acting-in-concert arrangement will not change despite changes in the company's shareholding structure and registered capital or other matters.

The term of the acting-in-concert arrangement is further extended for 24 months.

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