According to the Zhitong Finance App, Teda Biotech (08189) issued an announcement. On August 1, 2023, the company, Hong Kong TEDA, SJK and SJKGC signed a final settlement agreement on these agreements. The main terms are set out as follows:
1. The contracting party confirms that since SJKGC failed to satisfactorily implement mechanism 1 and mechanism 2 under the revised and rearrangement of shareholders' agreements and supplementary share purchase agreements, mechanism 3 (payment of minimum guaranteed cash dividends and refund of share costs) has been implemented automatically, and that the company has properly collected the minimum guaranteed cash dividend under mechanism 3.
2. The contracting party further agreed to pay the company RMB 1.395 million in proceeds from the sale of shares on the market as the final settlement for SJK to pay the company's compensation. After payment of such compensation, the contracting party shall be absolutely terminated, terminated and exempted from all rights and responsibilities under the acquisition matters and such agreements (including amended and rescheduled settlement agreements, supplementary share purchase agreements, and amended and re-listed shareholders' agreements) and related documents.
The company's board of directors anticipates that the final settlement agreement will not have any significant impact on the company's business operations and financial position in any material respect.