st
Meeting of the 9
thSession of the Board of Directors
The 31
st Meeting of the 9
thSession of the Board of Directors of ADAMA Ltd.(hereinafter referred to as the “Company”) was held via circulation of the resolutionon March 26, 2024 following notifications sent to all the directors by email of March21, 2024. Before the meeting, the Company’s 30
th Meeting of the 9
thSession of theBoard of Directors discussed the relevant proposals by video conference. Five directorswere entitled to participate in the circulation and five directors participated.The meeting complies with all relevant laws and regulations as well as the Articles ofAssociation of the Company. The following resolutions were deliberated and adopted:
1. Proposal on Calling for the 2023 Annual General MeetingThe Board of Directors called for the 2023 Annual General Meeting to be held on April16, 2024, at which a vote will be conducted by a combination of on-site votes and onlinevotes, to consider proposals 1 to 5, proposal 8, and proposal 10 approved by the 30thmeeting of the 9th session of the Board of Directors, as well as proposal 1 approved bythe 12th meeting of the 9th session of the Board of Supervisors.This proposal was passed with 5 affirmative votes, 0 negative votes, and 0 abstentions.
2. Proposal on Providing Guarantees in favor of the Company’s Wholly-owned
SubsidiaryThe Company agreed to provide joint liability guarantees in favor of the financingbanks that are to provide loans to its wholly-owned subsidiary ADAMA Anpon(Jiangsu) Ltd. For details, please refer to the Announcement on Providing Guarantees
The Company and all members of its board of directors hereby confirm that allinformation disclosed herein is true, accurate and complete with no false ormisleading statement or material omission.Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No.2024-11
in favor of the Company’s Wholly-owned Subsidiary (No.2024-13) disclosed on thesame day.This proposal was passed with 5 affirmative votes, 0 negative votes, and 0 abstentions.
3. Proposal on Bank Loans
Based on the Company’s business and development plans, the Board of Directorsapproved that the Company will apply for credit lines for the year 2024, including butnot limited to working capital loans, bank acceptance bills, trade finance and domesticletters of credit from banks to meet the Company’s operation demands.The Board of Directors further authorized any director, the President and CEO of theCompany or anyone authorized by him, to deal with the issues related to the aboveloans and sign the relevant legal documents.This proposal was passed with 5 affirmative votes, 0 negative votes, and 0 abstentions.It is hereby announced.
Board of Directors of ADAMA Ltd.
March 27, 2024