Gelonghui, on December 8, announced that shanghai qingpu (08115.HK) has released a notice stating that on December 8, 2024, the seller (i.e., Qingda Wuxi Commercial Mansion Grand Orient Education Technology Group Co., Ltd.) and the company entered into a sales agreement, whereby the seller has conditionally agreed to sell, and the company has conditionally agreed to acquire the target equity, with a total amount of 0.2 billion yuan (to be adjusted), to be paid as follows: (i) 28 million yuan by issuing and allocating 28 million shares of consideration stock to the seller or its nominee; (ii) 85 million yuan by the company issuing convertible bonds to the seller or its nominee; and (iii) 87 million yuan in cash.
The target equity includes: (i) all shares of the target company; and (ii) 10% of the total equity of target subsidiaries held by the seller. The target company (i.e., Qingda Wuxi Commercial Mansion Grand Orient Fire Technology Group Co., Ltd.) is a wholly-owned subsidiary of the seller. The target subsidiaries are respectively owned by the target company and the seller with 90% and 10% interests. The target group mainly engages in providing fire safety training services. Upon completion, the group will own 100% of the target group's shares, and the target group will become a wholly-owned subsidiary of the company.
