Shenyang Public Utility Development Co., Ltd. (00747) issued an announcement regarding the sale of Chaozhou Agricultural Commercial Bank shares, according to the share transfer...
According to the Zhitong Finance App, Shenyang Public Utility Development Co., Ltd. (00747) issued an announcement regarding the sale of Chaozhou Agricultural Commercial Bank shares. According to the share transfer agreement, the cost of RMB 12 million will be settled by the buyer within 90 business days after the effective date of the share transfer agreement, and completion will be carried out within six months after the entry into force of the share transfer agreement or within a period to be determined by such contracting parties. As of the date of this announcement, the buyer has paid a total of RMB 7.3 million to the company, and RMB 4.7 million has not yet been paid.
Following further negotiations between the contracting parties, on December 14, 2023, the contracting party concluded a second supplementary agreement to the equity transfer agreement, according to which:
(1) The contracting party agreed to extend the completion period until 31 March 2024. The buyer is required to pay a penalty for late payment in accordance with the share transfer agreement. Cancellation charges shall commence calculation from October 25, 2023 until payment is made; and
(2) If the buyer fails to pay the balance of RMB 4.7 million and the corresponding penalty under the share transfer agreement by March 31, 2024, the seller has the right to terminate the share transfer agreement;
The second supplementary agreement amends and supplements the share transfer agreement. If there is any discrepancy between the share transfer agreement and the second supplementary agreement, the second supplementary agreement shall prevail. Other than the above circumstances, the other parts of the share transfer agreement remain in effect.