Ruan Xingxiang signed a share transfer agreement to acquire a 5.11% stake in Guangdong Wanlima Industry Co.,Ltd. (SZSE:300591) from Lin Caihong for CNY 97.8 million on September 14, 2020. As part of the transaction Ruan Xingxiang will acquire 16.3 million shares in Guangdong Wanlima Industry Co.,Ltd. from Lin Caihong. Under the terms of the agreement, Ruan Xingxiang shall pay the share transfer amount under this agreement to Lin Caihong in two payments. Ruan Xingxiang shall pay 50% of the total transfer price CNY 48.9 million to Lin Caihong within five working days after the signing of this agreement and after all the underlying shares of this share transfer become registered under Ruan Xingxiang name and remaining amount of CNY 48.9 million on after obtaining confirmation document from China Securities Depository and Clearing Company.
Ruan Xingxiang completed the acquisition of a 5.11% stake in Guangdong Wanlima Industry Co.,Ltd. (SZSE:300591) from Lin Caihong on September 24, 2020.