Shaanxi Jinye Science Technology and Education Group Co.,Ltd cancelled acquisition of 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi.
October 30, 2021
Share
Shaanxi Jinye Science Technology and Education Group Co.,Ltd (SZSE:000812) signed a framework agreement to acquire 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi on May 24, 2019. Shaanxi Jinye Science Technology and Education Group Co.,Ltd will pay consideration in cash. A guarantee of not more than CNY 120 million will be paid by Shaanxi Jinye Science Technology and Education Group Co.,Ltd within 5 days since opening of the respective shares account by Shaanxi Jinye Science Technology and Education Group Co.,Ltd and Liu Yaoguo. On June 26, 2019, Shaanxi Jinye Science Technology and Education completed the payment of the security deposit for the acquisition of 51% stake in Shanxi Daren. Shaanxi Jinye Science Technology and Education paid the security deposit of CNY 100 million. Said account should be open within 5 days since signing of the present framework agreement. Prior to the transaction, Liu Yaoguo holds 99% stake and Yi Chengyi holds 1% stake in Shanxi Daren International Education Exchange Co., Ltd. The transaction needs to be submitted to board of Directors and shareholders of Shaanxi Jinye Science Technology and Education Group Co.,Ltd for consideration.
Shaanxi Jinye Science Technology and Education Group Co.,Ltd (SZSE:000812) cancelled acquisition of 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi on May 24, 2020. As on October 31, 2021, Shaanxi Jinye Science Technology and Education Group Co.,Ltd, Liu Yaoguo, and Yi Chengyi signed Termination Agreement.
Shaanxi Jinye Science Technology and Education Group Co., Ltd. is a China-based company principally engaged in the printing and processing business. The Company's main business includes the tobacco related business, education industry business, real estate development business and trade business. The tobacco related business mainly includes the production and sales of tobacco labels, cigarette tow and filters. The education industry business mainly includes the provision of higher education and other education and teaching services. The real estate business mainly includes the real estate development, sales and leasing business. The trading business mainly includes the provision of purchasing and supply services for the group, as well as the Internet smart campus business.
Shaanxi Jinye Science Technology and Education Group Co.,Ltd cancelled acquisition of 51% stake in Shanxi Daren International Education Exchange Co., Ltd. from Liu Yaoguo and Yi Chengyi.