Gelonghui November 13 | Kexuan Power Holdings (00476.HK) announced that on November 13, 2023, the first buyer entered into a termination agreement with the company, according to which (i) the first buyer agreed to irrevocably and unconditionally terminate its right to acquire previously pending shares from the company; and (ii) the first buyer and the company agreed that the total amount of money collected by the company of 900,000 euros from the company will not be refunded, and the company agreed to transfer the first share to the first buyer for sale to the first buyer, with 1.1% interest in Quantron AGON on the date of this announcement。
On the same day, the company entered into a sales agreement with the second buyer. According to this, the company has agreed to sell and the second buyer has agreed to acquire the second share for sale, which is equivalent to about 6.4% of Quantron AG's interest at the date of this announcement, at a total cost of 1,000,000 euros.
The company believes that the sale was a reasonable and prudent decision to gradually withdraw from its investment in Quantron AG. The company intends to continue to seek opportunities to sell remaining interests in Quantron AG. Furthermore, the board of directors believes that the optimal use of the Group's resources is to cooperate with the Group's overall long-term goals, explore and develop businesses or businesses related to electric vehicles and components with better prospects or higher growth potential, hoping to meet the best long-term interests of the company and its shareholders. The Group believes that the sale is a good opportunity to realize part of its investment in Quantron AG.