Common use of Nature and Purchase of Placement Shares Clause in Contracts

Nature and Purchase of Placement Shares. (i) On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell, through the Underwriter the Placement Shares an aggregate of a minimum of US$10,000,000 and a maximum of US$15,000,000 of ordinary shares (the “Offering Amount”) and, to the extent exercised by the Underwriter, the ordinary shares of the Company sold under the Over-Subscription Allowance for up to $1,500,000 to the investors therein (collectively the “Investors”). (ii) The Underwriter agrees to exercise its best efforts to arrange for the purchase, on a “minimum/maximum” basis, by the Investors from the Company the number of Placement Shares (including the ordinary shares to be sold under the exercise by the Underwriter of its Over-Subscription Allowance) set forth opposite its name on Schedule 1 attached hereto and made a part hereof at a purchase price of $4.00 per share (the “Purchase Price”). The Shares are to be offered initially to the public at the Purchase Price.

Nature and Purchase of Placement Shares. (i) On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell, through the Underwriter the Placement Shares an aggregate of a minimum of US$10,000,000 5,000,000 and a maximum of US$15,000,000 of ordinary shares (the “Offering Amount”) and, to the extent exercised by the Underwriter, the ordinary shares of the Company sold under the Over-Subscription Allowance for up to $1,500,000 2,250,000 to the investors therein (collectively the “Investors”). (ii) The Underwriter agrees to exercise its best efforts to arrange for the purchase, on a “minimum/maximum” basis, by the Investors from the Company the number of Placement Shares (including the ordinary shares to be sold under the exercise by the Underwriter of its Over-Subscription Allowance) set forth opposite its name on Schedule 1 attached hereto and made a part hereof at a purchase price of $4.00 5.00 per share (the “Purchase Price”). The Shares are to be offered initially to the public at the Purchase Price.