Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd entered into a share transfer agreement to acquire 6.02% stake in Gifore Agricultural Science & Technology Service Co., Ltd. from Wang Xinming and Tibet Shannan Shenyu Venture Capital Management Partnership for approximately CNY 110 million.
May 07, 2020
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Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd entered into a share transfer agreement to acquire 6.02% stake in Gifore Agricultural Science & Technology Service Co., Ltd. (SZSE:300022) from Wang Xinming and Tibet Shannan Shenyu Venture Capital Management Partnership for approximately CNY 110 million on May 6, 2020. Under the terms, Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd will acquire 22.9 million shares of Gifore Agricultural Science & Technology at an offer price of CNY 4.80 per share. Within 3 working days after obtaining the confirmation document issued by the Shenzhen Stock Exchange on this share transfer, Chengdu Economic&Technological shall deposit the full amount of the share transfer into co-managed account 1 and pay the seller, before the completion of the registration procedures for the transfer of Gifore’s share, 90% of this share transfer payment, that is CNY 98,896,243.68, to the account designated by the seller. Within 3 working days after the registration of the transfer of shares was completed, Chengdu Economic&Technological will pay the balance to the account designated by the seller.
Gifore Agricultural Science & Technology Service Co., Ltd., formerly Gifore Agricultural Machinery Chain Co., Ltd., is a China-based company principally engaged in the joint sales of agricultural equipment and agricultural machinery. The Companyâs main businesses involved in the provision of pre-sale and after-sale services of agricultural equipment, including agricultural machinery, trucks, agricultural construction machinery, general mechanical and others. The Companyâs main products include tractors, harvesters, rice transplanters, diesel oil engines, agricultural automobiles and others.
Chengdu Economic&Technological Development Zone Construction&Development Co.,Ltd entered into a share transfer agreement to acquire 6.02% stake in Gifore Agricultural Science & Technology Service Co., Ltd. from Wang Xinming and Tibet Shannan Shenyu Venture Capital Management Partnership for approximately CNY 110 million.