[ET Net News Agency, 25 April 2018] Fullshare Holdings (00607) and China High Speed
Transmission Equipment (CHS) (00658) said Fullshare, Five Seasons and the potential
offeror entered into an earnest money agreement and Ji Changqun and the potential offeror
entered into a supplemental agreement in relation to the original memorandum of
understanding.
The potential offeror shall provide an amount in cash or cash equivalents of Rmb1
billion to Fullshare (or its subsidiaries) as refundable earnest money within 30 days from
the date of the earnest money agreement.
The earnest money agreement and the supplemental MOU have extended the term of the
original MOUs to the earliest of the following: 30 September 2018; the date on which the
announcement on the possible transaction is made; or the date on which the potential
offeror terminates the possible transaction by notice in writing to Fullshare. The
respective obligations of Five Seasons and Ji under the original MOUs (including the
exclusivity undertaking thereunder) will be extended accordingly.
In January, each of Five Seasons and Ji Changqun entered into a memorandum of
understanding with an independent third party in relation to a possible conditional
voluntary partial cash offer for more than 50% but not exceeding 75% of the issued shares
of CHS.
Trading in shares of Fullshare and CHS will be resumed tomorrow. (HL)