SHANDONG XINHUA (00719) terminates the acquisition of the equity of Shandong Noah Saint Noah (Taicang) Biotechnology Co., Ltd.
Shandong Xinhua Pharmaceutical Co., Ltd. (00719) announced that regarding the signing of the "Equity Acquisition Intention Agreement" with Noa Saint Noel (Europe) Company. The Equity Acquisition Intention Agreement was only a preliminary intention reached by friendly negotiations among the parties. However, after further discussions and consultations, the parties could not reach a consensus on the terms and conditions of the formal agreement. Therefore, the company did not enter into a formal agreement for the project and the project will not proceed. As a result, the company has decided to terminate the Equity Acquisition Intention Agreement.
SHANDONG XINHUA (00719) announces that the company has signed an "Equity Acquisition Intention Agreement" with Noah Saint No (Europe) Company. The Equity Acquisition Intention Agreement is only a preliminary intention reached through friendly negotiations by the parties. However, after further discussions and negotiations, the parties were unable to reach a consensus on the terms and conditions of a formal agreement. As a result, the company has decided not to enter into a formal agreement for the project and will not pursue it. Therefore, the company has decided to terminate the Equity Acquisition Intention Agreement.
The decision to terminate the Equity Acquisition Intention Agreement was made after careful consideration by the company and will not affect the company's current production and operation activities, nor will it have any adverse effects on the company's development. There is no situation that would harm the company and all shareholders, especially small and medium shareholders.
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