Sino Energy International Holdings Group Limited cancelled the acquisition of a 51% stake in Shangrao Jinbi Mining Co., Ltd. from Pan Ji Tao.
Sino Energy International Holdings Group Limited (SEHK:1096) cancelled the acquisition of a 51% stake in Shangrao Jinbi Mining Co., Ltd. from Pan Ji Tao On January 17, 2022. Sino Energy International Holdings Group Limited and Pan Ji Tao entered into a termination agreement on January 17, 2022, whereby the parties have mutually agreed to terminate the Agreement and to release and discharge each other from its respective obligations under the Agreement with effect from the date of the Termination Agreement. Pursuant to the Termination Agreement, Pan Ji Tao will refund the partial amount of Consideration. The Board considers that the termination of the Acquisition will not have any material adverse impact on the financial position and operation of Sino Energy International Holdings Group Limited.