[ET Net News Agency, 9 July 2019] Ausnutria Dairy Corporation Ltd (01717) said the HK
Purchaser (being a wholly-owned subsidiary of the company) has conditionally agreed to
acquire the entire equity interest in each of the HK Target Companies, at the total
consideration comprising (i) the upfront consideration of RMB56.38 million, which shall be
settled by the issuance and allotment of 4.12 million upfront consideration shares at the
price of HK$15.47 each by the company; and (ii) the subsequent consideration (if any),
which is capped at RMB180 million. The actual subsequent consideration will be determined
based on the financial performance of the Nutriunion Group for the three years ending 31
December 2021.
Upon HK acquisition completion, each of the HK Target Companies and Nutriunion HK will
become indirect wholly-owned subsidiaries of the company.
Also, the GZ Purchaser has conditionally agreed to acquire the 40% equity interest in
Nutriunion GZ, at the GZ acquisition consideration of RMB6.82 million, which shall be
settled by cash.
Upon the GZ acquisition completion, Nutriunion GZ, a company which is engaged in
marketing and distribution of nutrition products in the PRC, will become an indirect
wholly-owned subsidiary of the company. (RC)