Plum Announcement: Termination of Restructuring Matters with Hi-Jie

China Securities Network (reporter Yan Zheng) Plum Bio announced on the evening of May 23, the company originally planned to issue shares to buy assets and raise supporting funds, and involved in the transfer of part of the company's shares, may lead to the actual controller change of major mattersHowever, as the company and the counterparty on the inter-industry competition issues, the underlying asset performance commitment and other key provisions still can not reach agreement, and the company has promised not to apply for re-listing no later than May 24, the planning of the issue of shares to purchase assets matters were forced to terminate4cJ
The announcement revealed that the company plans to issue shares to purchase assets of the transaction counterpart for Hi-Jie First Sugar Co., Ltd(referred to as "Hijie first sugar"), the target companies of the transaction include: Shijie (Chat City) Biotech Co., Ltd., Xijie (Shenyang) Biotech Co., Ltd., Liaocheng Blue Sky Thermal Power Co., Ltd.;4cJ
In terms of the specific trading method, Meihua Bio intends to purchase 100% of the target company held by the counterparty by issuing shares to purchase assets, and at the same time raise supporting funds from the other party to issue sharesIn addition, the company's shareholders Meng Qingshan and other eight natural person shareholders (transferees) intend to xijie first sugar (transferee) agreement to transfer 550 million shares of Plum Bio shares, accounting for 17.69 percent of the company's total share capital before the current issueAfter the completion of the transaction, Higer's first sugar strain will become the largest shareholder of the listed company, and may become the actual controller of plum bio4cJ
However, after many communication and consultation with Hi-Jie First Sugar, the company has not been able to agree on key terms such as competition issues and performance commitmentsThe announcement said that after the initial audit of the target company, the overall performance of the target company in 2014 and 2015 was in a state of large loss, in the case of The first sugar of The Underworld refused to make a performance commitment for the target company's profitability in the next few years, the valuation of the target company and The first sugar expectations of The First Isaie there is a significant difference4cJ
　　As the company, the old unit transferor and related intermediary agencies on the solution of the above-mentioned problems can not get the first sugar first sugar in the sincere response, Hi-Jie first sugar did not propose other effective solutions to the problem, as of May 23, the two parties to the transaction still can not sign the restructuring of the relevant agreement As the company has promised to apply for re-listing no later than May 24, the planned issuance of shares to purchase assets was forced to terminate 4cJ
　　According to the relevant regulations, the company will hold an investor briefing on May 24, and in the disclosure of the investor's note will be held at the same time to apply for the stock and its derivatives re-branding At the same time, the Company undertakes not to plan any major asset restructuring matters within 6 months from the date of the announcement of the investor's announcement 4cJ China Securities Network News (Reporter Yan Zheng) Meihua Bio announced on the evening of May 23, the company originally planned to issue shares to buy assets and raise supporting funds, and involved in the transfer of part of the company's shares, may lead to the actual controller change of major matters However, as the company and the counterparty on the inter-industry competition issues, the underlying asset performance commitment and other key provisions still can not reach agreement, and the company has promised not to apply for re-listing no later than May 24, the planning of the issue of shares to purchase assets matters were forced to terminate 4cJ
　　The announcement revealed that the company plans to issue shares to purchase assets of the transaction counterpart for Hi-Jie First Sugar Co., Ltd (referred to as "Hijie first sugar"), the target companies of the transaction include: Shijie (Chat City) Biotech Co., Ltd., Xijie (Shenyang) Biotech Co., Ltd., Liaocheng Blue Sky Thermal Power Co., Ltd.; 4cJ
　　In terms of the specific trading method, Meihua Bio intends to purchase 100% of the target company held by the counterparty by issuing shares to purchase assets, and at the same time raise supporting funds from the other party to issue shares In addition, the company's shareholders Meng Qingshan and other eight natural person shareholders (transferees) intend to xijie first sugar (transferee) agreement to transfer 550 million shares of Plum Bio shares, accounting for 17.69 percent of the company's total share capital before the current issue After the completion of the transaction, Higer's first sugar strain will become the largest shareholder of the listed company, and may become the actual controller of plum bio 4cJ
　　However, after many communication and consultation with Hi-Jie First Sugar, the company has not been able to agree on key terms such as competition issues and performance commitments The announcement said that after the initial audit of the target company, the overall performance of the target company in 2014 and 2015 was in a state of large loss, in the case of The first sugar of The Underworld refused to make a performance commitment for the target company's profitability in the next few years, the valuation of the target company and The first sugar expectations of The First Isaie there is a significant difference 4cJ
　　As the company, the old unit transferor and related intermediary agencies on the solution of the above-mentioned problems can not get the first sugar first sugar in the sincere response, Hi-Jie first sugar did not propose other effective solutions to the problem, as of May 23, the two parties to the transaction still can not sign the restructuring of the relevant agreement As the company has promised to apply for re-listing no later than May 24, the planned issuance of shares to purchase assets was forced to terminate 4cJ
　　According to the relevant regulations, the company will hold an investor briefing on May 24, and in the disclosure of the investor's note will be held at the same time to apply for the stock and its derivatives re-branding At the same time, the Company undertakes not to plan any major asset restructuring matters within 6 months from the date of the announcement of the investor's announcement 4cJ
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