Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) completed the acquisition of 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd from Shanghai Xinnanyang Only Education & Technology Co., Ltd..
August 03, 2022
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Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) agreed to acquire 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd (SHSE:600530) from Shanghai Xinnanyang Only Education & Technology Co., Ltd. (SHSE:600661) for approximately CNY 150 million on September 29, 2021. On October 26, 2021, Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) signed agreement to acquire 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd from Shanghai Xinnanyang Only Education & Technology Co., Ltd. As on July 27, 2021, the company received the "Notice Letter on Signing the Supplementary Agreement for Share Transfer" from Shanghai Xinnanyang Only Education & Technology Co.,Ltd. Under the terms Lishui Nongbang Biotechnology Co., Ltd will acquire 40.4 million shares for CNY 3.8 per share. After the official share transfer agreement comes into effect, and before October 30, 2021, parties will open a bank account jointly managed by both parties, Shanghai Xincheng Xinchuang Health Technology Development Co., Ltd will pay CNY 30 million. Shanghai Xincheng Xinchuang Health Technology Development Co., Ltd td will pay all the remaining share transfer price to the co-managed account before January 5, 2022, Within three working days after Shanghai Xinnanyang Only Education & Technology Co., Ltd completes the delivery obligation. In a related transaction Lishui Nongbang Biotechnology Co., Ltd agreed to acquire 5.01% stake in Shanghai Jiaoda Onlly Co.,Ltd (SHSE:600530) from Shanghai Xinnanyang Only Education & Technology Co., Ltd. (SHSE:600661). As of February 10, 2022, Shanghai Xinnanyang Only Education & Technology Co., Ltd. has received CNY 30 million while remaining payment is payable before February 28, 2022 under the supplemental agreement signed between the parties on February 9, 2022. Transaction is subject to board and shareholders approval of Shanghai Jiaoda Onlly Co.,Ltd.
Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) completed the acquisition of 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd (SHSE:600530) from Shanghai Xinnanyang Only Education & Technology Co., Ltd. (SHSE:600661) on August 4, 2022.
Shanghai Xinnanyang Only Education & Technology Co., Ltd., formerly Shanghai Xin Nanyang Co., Ltd, is a China-based company principally engaged in the education and training business. The Company is mainly involved in kindergarten to twelfth grade (K12) education, vocational education, international education and high-end management training businesses. Through its subsidiaries, the Company is also engaged in the technological development in the field of educational technology. The Company operates its businesses mainly in Shanghai, China.
Lishui Xincheng Xinchuang Technology Development Partnership Enterprise (Limited Partnership) completed the acquisition of 5.19% stake in Shanghai Jiaoda Onlly Co.,Ltd from Shanghai Xinnanyang Only Education & Technology Co., Ltd..