Tomson Group (00258) issued an announcement regarding Aoyong Co., Ltd., an indirect wholly-owned subsidiary of the company, plans to gather in Haihua, China...
According to the Zhitong Finance App, Tomson Group (00258) issued an announcement on matters relating to Aoyong Co., Ltd., an indirect subsidiary of the company, plans to sell 100% of its shares in Shanghai City to China Haihua Group Co., Ltd. and Ustar Financial Development Holding Group Limited. The board of directors is pleased to confirm that the company has received RMB 808.696 million (equivalent to 20% of Shanghai City's net asset value on October 27, 2023 (that is, the expected settlement date). The deposit portion, and the seller has accordingly refunded the performance fee of RMB 30 million to the buyer's connected party in China without interest. According to the terms of the “Equity Transfer Agreement”, the buyer is required to pay the third instalment on December 8, 2023, yet the seller has not received the third instalment payment as of the date of this announcement. If on or before December 18, 2023, the buyer fails to pay the third instalment payment and the contracting parties fail to agree on a remedy satisfactory to the seller, the seller has the right to terminate the “Share Transfer Agreement”, and in the event of such termination, the seller has the right to collect a penalty equal to the deposit amount.