Yintai obtains third and final PRC Approval
The SAFE Approval is the third and final Chinese regulatory approval required.
- The SAFE Approval is the third and final Chinese regulatory approval required.
- Yintai obtained the approval of the Ministry of Commerce of the People's Republic of China (the "MOFCOM Approval") on April 16, 2024 and the approval of the National Development and Reform Commission of the People's Republic of China (the "NDRC Approval" and, together with the SAFE Approval and the MOFCOM Approval, the "PRC Approvals") on May 14, 2024.
- The receipt of the PRC approvals was a condition of closing for the Arrangement.
- The Arrangement therefore remains on track to close on or about the end of H1 2024, subject to approval by the Namibian Competition Commission, which Osino continues to expect to receive in June.