M-Grass Ecology And Environment Co., Ltd. signed an Equity Transfer Agreement to acquire the remaining 15.6% stake in Inner Mongolia M-Grass Seed Industry Co., Ltd. from Modern Seed Industry Development Fund Co., Ltd., managed by Beijing Shining Investment Management Company Ltd. for approximately CNY 130 million.

M-Grass Ecology And Environment (Group) Co., Ltd. (SZSE:300355) signed an Equity Transfer Agreement to acquire the remaining 15.6% stake in Inner Mongolia M-Grass Seed Industry Co., Ltd. from Modern Seed Industry Development Fund Co., Ltd., managed by Beijing Shining Investment Management Company Ltd. for approximately CNY 130 million on July 31, 2023. Under the terms, M-Grass Ecology And Environment will pay One-time consideration to will acquire 20,546,300 share and will hold 100% stake post transaction. In Q1, 2023, Inner Mongolia M-Grass Seed reported total assets of CNY 845.6 million and net assets of CNY 522.5 million.

The shareholders of both parties should approved the transaction and agreed that the directors, supervisors and senior managers appointed by Modern Seed Industry Development to M-Grass Seed resign from M-Grass Seed. This transaction does not need to be reviewed by the company's board of directors and shareholders' meeting and does not need to be approved by relevant government departments.