Zhitong Financial and Economic APP News, Beijing Gas Blue Sky (06828) issued an announcement about the proposed sale of 30 per cent shares in Ningbo Beilun Bochen Energy Trade, Huzhou Bochen Natural Gas and Zhejiang Boxin Energy Company to SKE&S; to form a joint venture; and grant put options.
The Board hereby announces that due to the performance conditions and significant changes in the market stipulated in the original contract, on 16 November 2021, the respective parties to the Equity transfer Agreement, the Joint Venture Agreement and the LNG Agreement agreed not to conduct the transactions contemplated under the Equity transfer Agreement, the Joint Venture Agreement and the LNG Agreement respectively, and entered into a termination Agreement to terminate the Equity transfer Agreement, the Joint Venture Agreement and the LNG Agreement, respectively.
From the date of termination of the Agreement, all rights and obligations of the parties under the Equity transfer Agreement, the Joint Venture Agreement and the LNG Agreement shall cease to take effect, and none of the parties shall claim any fees or liquidated damages against other parties in respect thereof.
The Board is of the view that the termination of these will not have any material adverse impact on the Group's business operations and financial position.