Hubei Zhenghan Investment Co., Ltd. agreed to acquire 45.08% of Mailyard Futures Co., Ltd. from Hubei Mailyard Share Co.,Ltd for CNY 317.8 million.
May 25, 2022
Share
Hubei Zhenghan Investment Co., Ltd. agreed to acquire 45.08% of Mailyard Futures Co., Ltd. from Hubei Mailyard Share Co.,Ltd (SHSE:600107) for CNY 317.8 million on May 26, 2022. After the transaction Hubei Zhenghan will become controlling shareholder holding 75.06% of Mailyard Futures. The transaction is subject to approval of China Securities Regulatory Commission. On May 25, 2022, the listed company held the 23rd meeting of the 11th board of directors, and reviewed and approved the Proposal on the Sale of the Company's Significant Assets and the Signing of the Equity Transfer Framework Agreement". On September 8, 2022, Hubei Mailyard Share Co.,Ltd held the 25th meeting of the 11th board of directors, and reviewed and approved the Proposal on the Significant Assets Sale Report of Mailyard Futures Co., Ltd. and its summary, etc. Proposals related to this restructuring. On May 24, 2022, Mailyard Futures Co., Ltd. held the 34th meeting of the second shareholders' meeting, and reviewed and approved the Proposal of the Company's Shareholder Mailyard Futures Co., Ltd.. to Transfer Its Equity in the Company and other proposals. Han Investment enjoys and exercises the right of first refusal, and other existing shareholders of the target company waive the right of first refusal. AS of June 30, 2022, Total Assets were of CNY 5 billion and Total Common Equity was of CNY 522 million. As of October 14, 2022, of the company's 11th directorate approved the proposal on the major asset sale report (revised). As of December 24, 2022, Hubei Mailyard Share has received 80% of the equity transfer payment, that is, CNY 254.24 million. The change of the controlling shareholder of Mailyard Futures needs to be approved by the China Securities Regulatory Commission. The change of the controlling shareholder of Mailyard Futures needs to be approved by the China Securities Regulatory Commission.
As on January 31, 2023, Hubei Mailyard Share Co.,Ltd has received 80% of the consideration price ass CNY 254.24 million.
Mazars Certified Public Accountants LLP acted as Accountant to Hubei Mailyard Share. Peking Certified Public Accountants Co., Ltd. acted as Accountant to Hubei Mailyard Share. Lianchu Securities Co.,Ltd. acted as financial advisor to Hubei Mailyard Share.
HUBEI MAILYARD SHARE CO., LTD. is a China-based company principally engaged in the research, design, manufacture and sales of clothing. The Company mainly sells men's and women's clothing. The Company mainly processes and sells garments in the domestic market under the brand name of Mailyard. The Company is also engaged in hotel and real estate business. The Company conducts its business in domestic and overseas markets.