Gelonghui, December 11, 丨 Tiangong International (00826.HK) announced that after negotiations between the parties, (1) Kaichen, Tiangong New Materials, Tiangong Hong Kong, the company, Tiangong Precision and Tiangong Tools signed a Kaichen share repurchase agreement. According to this, Kaichen (as the transferor) will transfer 1.1765% of its shares to Tiangong New Materials (as the transferee); (2) Qilu, Tiangong New Materials, Tiangong Hong Kong, Company, Tiangong Precision and Tiangong Precision Tool signs Qilu share repurchase agreement According to this, Qilu (as the transferor) will transfer 1.9412% of its shares in Tiangong Tools to Tiangong New Materials (as the transferee) at a consideration of RMB 0.1898 billion; and (3) Sinopec Capital, Tiangong New Materials, Tiangong Hong Kong, Company, Tiangong Precision and Tiangong Tools will sign a Sinopec share repurchase agreement. Based on this, the successful transfer of Tiangong New Materials will be confirmed as the final transferee, and Sinopec Capital (as the transferor) will use RMB 0.228 billion The consideration of yuan is to hold it 2.3529% of Tiangong Tools shares were transferred to Tiangong New Materials (as transferee).
Due to changes in the macro capital market environment, the schedule for Tiangong Tool's listing plan has changed. Therefore, investors have the right to request share buybacks. At the same time, in order to simplify the shareholding structure and retain investors with long-term intentions, the company agreed to the relevant share repurchase requirements. Since the payment arrangement is different from the shareholder agreement (Note 1), the transfer price needs to be adjusted appropriately, and the group needs to enter into a repurchase agreement with the investor (i.e., Aviation Investment Yuhua, Finance Investment, Kaichen, Qilu and Sinopec Capital) to fulfill its responsibility to repurchase Tiangong Tools shares held by the investors concerned.
