Xiamen Financial Holding Co., Ltd. entered into an agreement to acquire 15.9% stake in Clenergy Technology Co., Ltd. from Wang Xiaoming, Wang Zhicheng and Hong Daniel for approximately CNY 350 million.
January 16, 2020
Share
Xiamen Financial Holding Co., Ltd. entered into an agreement to acquire 15.9% stake in Clenergy (Xiamen) Technology Co., Ltd. (SHSE:603628) from Wang Xiaoming, Wang Zhicheng and Hong Daniel for approximately CNY 350 million on January 15, 2020. Pursuant to the terms, Wang Xiaoming will sell 10.9 million shares equivalent to 3.98% stake, Wang Zhicheng will sell 5.4 million shares equivalent to 1.99% stake and Hong Daniel will sell 27.2 million shares equivalent to 9.94% stake to Xiamen Financial Holding Co., Ltd. The buyer will pay a price of CNY 8.12 per share. The buyer will pay 50% of the consideration within 10 working days after the shareholders of Clenergy (Xiamen) Technology approved the waiver of Wang Xiaoming, Wang Zhicheng and Hong Daniel voluntary sales restrictions and Shanghai Stock Exchange completed the compliance confirmation. The buyer will pay additional 20% consideration within 10 working days and remaining 30% of the consideration is payable within 10 working days after the completion of the organizational structure, personnel adjustments, internal system adjustments, and performance pledge procedures during the performance commitment period. Post completion, Xiamen Financial Holding Co., Ltd., Wang Xiaoming, Wang Zhicheng and Hong Daniel will hold 15.90%, 11.92%, 5.96% and 29.81% stake respectively in Clenergy (Xiamen) Technology Co., Ltd.
Clenergy Technology Co Ltd, formerly Clenergy Xiamen Technology Co Ltd, is a China-based company mainly engaged in the research and development, design, production and sales of smart photovoltaic trackers and other photovoltaic brackets. The Company is also engaged in the development, construction and operation of photovoltaic power plants, and the research and development, production and sales of photovoltaic power electronic products. The Company's independent brand products include photovoltaic smart trackers, fixed ground photovoltaic support systems, adjustable supports, carport supports, distributed roof photovoltaic support systems and other series, as well as the auxiliary products such as photovoltaic power station supporting bridges and combiner boxes.
Xiamen Financial Holding Co., Ltd. entered into an agreement to acquire 15.9% stake in Clenergy Technology Co., Ltd. from Wang Xiaoming, Wang Zhicheng and Hong Daniel for approximately CNY 350 million.