Tomson Group (00258) issued an announcement on April 17, 2024 (after the trading session), according to the “Revised...
Zhitong Finance App News, Tomson Group (00258) issued an announcement. On April 17, 2024 (after the trading period), in accordance with the terms of the “Revised Equity Transfer Agreement”, the seller issued a notice to Ustar to terminate the “Revised Equity Transfer Agreement” on April 17, 2024. Accordingly, the seller has forfeited the deposit and is entitled to a penalty calculated under the Amended Share Transfer Agreement. After deducting the amount of the penalty, the Group shall refund the balance of the third instalment payment without interest to Ustar (or to its related party in China, depending on the original payment arrangement) within three working days after the termination date of the transaction. After the above amount is refunded, the seller has fulfilled all of its obligations and responsibilities to Ustar under the Amended Share Transfer Agreement. The termination of the transaction will not affect the seller's rights and remedies before the end date of the transaction due to Ustar's breach of any of its obligations under or relating to the Amended Share Transfer Agreement, nor shall it constitute a waiver of any of its rights and remedies.