Fengsheng Holdings (00607) announced that on November 25, 2023 (after the trading period), each of these specially authorized subscribers signed a termination deed (collectively, “such termination deed”) with the company to terminate such specially authorized subscription agreements (termination matters). After careful and thorough consideration of all circumstances relating to such specially authorized subscription matters, the Company and each of these specially authorized subscribers decided not to proceed with such specially authorized subscription matters for commercial reasons.
Under such termination deeds, all rights, claims, or interests of the contracting party under such specially authorized subscription agreements shall be completely exempted, waived and terminated, and no party shall have any right, claim or interest against any other party under each of these specially authorized subscription agreements.
Since such subscription agreements have been terminated, the third ordinary resolution in the Extraordinary General Meeting of Shareholders Notice will be withdrawn and will not be submitted for voting at the Company's Extraordinary General Meeting of Shareholders to be held on November 30, 2023 (Thursday).
The Board considers that the termination will not have any material adverse effect on the Company's current business, operations, or financial position.