Hainan Shengtai Chuangfa Industrial Co., Ltd, Shitong Investment Co., Ltd and Binzhou Kangxing Grain and Oil Trading Co., Ltd entered into an agreement to acquire 54.3% stake in Baotou Huazi Industry Co., Ltd from Baotou Shichuang Economic Technology Development Co. Ltd., Baotou Beipu Industrial Co Ltd. and Baotou Prairie Sugar Co., Ltd for CNY 1.2 billion
November 16, 2021
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Hainan Shengtai Chuangfa Industrial Co., Ltd, Shitong Investment (Shandong) Co., Ltd and Binzhou Kangxing Grain and Oil Trading Co., Ltd entered into a share transfer agreement to acquire 54.3% stake in Baotou Huazi Industry Co., Ltd (SHSE:600191) from Baotou Shichuang Economic Technology Development Co. Ltd., Baotou Beipu Industrial Co Ltd. and Baotou Prairie Sugar (Group) Co., Ltd for CNY 1.2 billion on November 15, 2021. The transferor agrees to transfer a total of 263,455,613 shares for CNY 4.74 per share. The transferee shall pay the share transfer price to the transferor in two installments. First installment of CNY 250 million will be paid within 3 working days after the conditions are fulfilled. Remaining 80% of CNY 1 billion will be paid Within 25 working days after the transferee has paid the first share transfer price. After the transferee has paid and completed the second share transfer price, the transferor shall cooperate with the transferee to complete the transfer and registration procedures of the target shares in the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. the transferor shall pay the transferee RMB 10,000,000 or an amount equivalent to 0.05%/day of the share transfer price paid by the transferee (whichever is higher) as the liquidated damages. As of the signing date of the agreement, Prairie Sugar, holds 152,717,960 shares of the company, accounting for 31.49%, as the company?s controlling shareholder; Shichuang Economic holds 85,504,925 shares of the company, accounting for the company?s total share capital OF 17.61%; Beipu Industry holds 25,332,728 shares of the company, accounting for 5.22% of the company?s total share capital. If this share transfer is successful, the actual control of the company will be changed. Hainan Shengtai Chuangfa Industrial Co., Ltd. will become the company's controlling shareholder, and Zhang Wenguo will become the company's actual controller.The transfer of shares under this agreement requires compliance confirmation by the Shanghai Stock Exchange before proceeding with the transfer procedures of the share agreement transfer at the Shanghai Branch of China Securities Depository and Clearing Co., Ltd.
BAOTOU HUAZI INDUSTRY CO., LTD is a China-based company principally engaged in the processing, manufacture and sales of edible sugar products. The Company also provides related property leasing service. Through its subsidiaries, the Company is also engaged in the development of computer software and hardware, the sales of chemical products and the live stock business, as well as the manufacture and sales of feeds. The Company mainly conducts its businesses within domestic market.
Hainan Shengtai Chuangfa Industrial Co., Ltd, Shitong Investment Co., Ltd and Binzhou Kangxing Grain and Oil Trading Co., Ltd entered into an agreement to acquire 54.3% stake in Baotou Huazi Industry Co., Ltd from Baotou Shichuang Economic Technology Development Co. Ltd., Baotou Beipu Industrial Co Ltd. and Baotou Prairie Sugar Co., Ltd for CNY 1.2 billion