Xia Zhisheng, Xia Ding, Xia Lan, Wang Peifei, Xu Jianlong, Zhong Chuanliang completed the acquisition of 67.5% stake in Zhejiang Meida Industrial Co., Ltd. from Meida Group Co., Ltd.
April 24, 2016
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Xia Zhisheng, Xia Ding, Xia Lan, Wang Peifei, Xu Jianlong, Zhong Chuanliang signed a share transfer agreement to acquire 67.5% stake in Zhejiang Meida Industrial Co., Ltd. (SZSE:002677) from Meida Group Co., Ltd. for CNY 3.2 billion on February 2, 2016. Under the terms of the transaction, Xia Zhisheng will acquire 97.24 million shares and will own 24.31% of Zhejiang Meida after the transfer. Xia Ding will acquire an additional 54.76 million shares and will increase its stake from 7.5% to 21.19% of Zhejiang Meida. Xia Lan will acquire 41.25 million shares and will own 10.31% of Zhejiang Meida after the transfer. Wang Peifei will acquire 33.21 million shares owning 8.30% of Zhejiang Meida. Xu Jianlong will acquire 22.48 million shares owning 5.62% of Zhejiang Meida. Zhong Chuanliang will acquire 21.04 million shares owning 5.2610% of Zhejiang Meida. On February 2, 2016, Meida Group's shareholders approved the transaction in the shareholders' meeting. As on April 25, 2016, China Securities Depository and Clearing Company Limited issued Securities Transfer Registration Confirmation.
Xia Zhisheng, Xia Ding, Xia Lan, Wang Peifei, Xu Jianlong, Zhong Chuanliang completed the acquisition of 67.5% stake in Zhejiang Meida Industrial Co., Ltd. (SZSE:002677) from Meida Group Co., Ltd. on April 25, 2016.
Zhejiang Meida Industrial Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sale of integrated stove products. The Company's main products are the integrated stoves under the brand name of Meida, which combines fumes exhausting, cooking, steaming and disinfection and other functions in one. The Company's products are mainly used in home kitchens and the cooking places of apartments, armies, schools and hospitals. The Company distributes its products in domestic market.
Xia Zhisheng, Xia Ding, Xia Lan, Wang Peifei, Xu Jianlong, Zhong Chuanliang completed the acquisition of 67.5% stake in Zhejiang Meida Industrial Co., Ltd. from Meida Group Co., Ltd.