Shengyuan Holdings (00851) issued an announcement relating to agreements based on Atta Asset and Construction Management...
Zhitong Finance App News, Shengyuan Holdings (00851) issued an announcement regarding the subscription of Atta Note Purchase Agreement with Atta Asset and Construction Management dated September 15, 2021 to subscribe for Atta Notes with an issuance capital of 20 million US dollars and a subscription amount of 10 million US dollars from Atta Asset, Construction Management and a Jianhe Notes subscription agreement with Flourishing and Flourishing dated September 6, 2021, as well as Jianhe Bills Subscription Agreement with Jianhe Management, Flourishing and Shengyuan Capital Matters relating to the tripartite agreement between the investors dated September 11, 2021.
According to the Atta Note Purchase Agreement, Atta Asset is required to pay 740,000 US dollars of Atta note interest to Construction and Management on May 7, 2022, November 7, 2023, and May 7, 2024, respectively (that is, as of the date of this announcement, Atta Asset must pay a total of 2.96 million US dollars in accrued interest on Atta Notes to Construction and Management), and the outstanding principal amount of Atta Notes subscribed by CCM must expire on April 23, 2024 Repayment.
On March 21, 2024, Jianhe Management, Flourishing, and Shengyuan Capital Investment entered into a termination agreement with Atta Asset (collectively referred to as the “Related Party”). Accordingly, the parties concerned agreed to the following arrangement:
(1) The Atta Note Purchase Agreement and the subscription for Atta Notes under the Atta Note were terminated on March 21, 2024 in accordance with the Atta Bill Purchase Agreement, and Atta Asset must repay $10 million (that is, the subscription amount for the Atta Note) and $3.3 million in interest from the agreement (collectively, the “repayment amount”) to Construction and Management on March 21, 2024;
(2) Notwithstanding any contrary provision in the Atta Notes Purchase Agreement, the CCP Subscription Agreement, and the tripartite agreement, (i) the total repayment amount of USD 129.16,700 must be settled separately by Atta Asset and Flourishing on March 21, 2024. At that time, the total principal amount of $10 million of the Jianhe Notes together with interest of USD 2,916,700 will be deemed to have been paid back to Flourishing by Construction and Management; and (ii) the remaining amount of USD 413,300 of the repayment amount must be settled by Atta Asset and Flourishing Atta Asset paid off to Construction and Management on March 21, 2024 (the “Repayment Arrangement”);
(3) After settlement of the repayment arrangement, Atta Asset will be unconditionally released and released from any and all claims, demands, lawsuits, liabilities and losses relating to the subscription for Atta Notes; and
(4) Except for the arrangements disclosed in subparagraphs (1), (2) and (3) above, all other terms and conditions of the tripartite agreement remain unchanged and remain in full force and effect.