THE COOPERATION AGREEMENT. The Board is pleased to announce that, on July 6, 2017, Bei Ai Company and Lanzhou New Area Management Committee, entered into the Cooperation Agreement, pursuant to which the Group intended to invest approximately RMB600 million for its construction of the Northwest School with a planned capacity of 15,000 students. Lanzhou New Area Management Committee agreed to provide administrative support for the establishment of the Northwest School, including but not limited to the grant of the land use right for the campus of the Northwest School and completing the construction of the ancillary infrastructure around the campus. REASONS FOR AND BENEFITS OF ENTERING INTO OF THE COOPERATION AGREEMENT As disclosed in the Prospectus, it was expected that the Northwest School would be officially established after the Listing. The construction was planned to commence in the second half of 2017. It is expected that the Northwest School will commence operation in 2019 and enroll the first batch of students in September 2019. After the commencement of operation of the Northwest School, the Group plans to increase the number of school buildings, equipment and other constructions based on the growth of student enrollment year by year. The Directors believe that the Cooperation Agreement marks the Group’s continuous efforts to expand its school network and increase the market penetration. The Directors are of the view that the terms and conditions of the Cooperation Agreement are fair and reasonable, and are in the interests of the Company and its Shareholders as a whole. INFORMATION OF THE PARTIES TO THE COOPERATION AGREEMENT Information of Lanzhou New Area Management Committee Lanzhou New Area Management Committee is a government authority and an administrative management institution of Lanzhou New Area. Lanzhou New Area is the first state-level new area in Northwest China. To the best of the Directors’ knowledge, information and having made all reasonable enquiries, Lanzhou New Area Management Committee and its ultimate beneficial owners are third parties independent of the Company and its connected persons. Information of the Company and Bei Ai Company The Company is an investment holding company and its subsidiaries are principally engaged in private formal higher education. Bei Ai Company is a wholly owned subsidiary of the Company. It currently has no substantial business and will act as the school sponsor of the Northwest School after its establishment.
THE COOPERATION AGREEMENT. Date 26 October 2017 (after trading hours of the Stock Exchange) Parties
THE COOPERATION AGREEMENT. The principal terms of the Cooperation Agreement are set out below: Date 14 April 2023
THE COOPERATION AGREEMENT. On 22 December 2015, the Company, Nanjing Langming, Nanjing Xinhuisheng, Landsea Group and Minsheng Royal Asset Management entered into the Cooperation Agreement pursuant to which the parties agreed that, among other things, (i) Minsheng Royal Asset Management would establish the Asset Management Scheme; (ii) Nanjing Langming (as asset entrustor) would enter into the Asset Management Contract with Minsheng Royal Asset Management (as asset manager), China Minsheng (as asset custodian) and other Stakeholders pursuant to which, among other things, Nanjing Langming would participate in the Asset Management Scheme by subscribing for the Junior Stake and depositing an investment amount of RMB300,000,000 into the designated account with China Minsheng;
THE COOPERATION AGREEMENT. On 22 December 2015, the Company, Nanjing Langming, Nanjing Xinhuisheng, Landsea Group and Minsheng Royal Asset Management entered into the Cooperation Agreement pursuant to which the parties agreed that, among other things, (i) Minsheng Royal Asset Management would establish the Asset Management Scheme; (ii) Nanjing Langming (as asset entrustor) would enter into the Asset Management Contract with Minsheng Royal Asset Management (as asset manager), China Minsheng (as asset custodian) and other Stakeholders pursuant to which, among other things, Nanjing Langming would participate in the Asset Management Scheme by subscribing for the Junior Stake and depositing an investment amount of RMB300,000,000 into the designated account with China Minsheng; (iii) Nanjing Langming and Minsheng Royal Asset Management would enter into the Sale and Purchase Agreement whereby Nanjing Langming would sell and Minsheng Royal Asset Management (for and on behalf of the Asset Management Scheme) would purchase the entire equity interest of Nanjing Xinhuisheng at the Consideration; and (iv) Minsheng Royal Asset Management (for and on behalf of the Asset Management Scheme) would provide the Shareholder’s Loan to Nanjing Xinhuisheng. The principal terms of the Cooperation Agreement are as follows: Date: 22 December 2015 Parties: (1) the Company (2) Nanjing Langming, an indirect wholly-owned subsidiary of the Company as at the date of this announcement (3) Nanjing Xinhuisheng, a direct wholly-owned subsidiary of Nanjing Langming and an indirect wholly-owned subsidiary of the Company as at the date of this announcement (4) Landsea Group, the ultimate controlling shareholder of the Company
THE COOPERATION AGREEMENT. Date 10 January 2017 Parties to the Cooperation Agreement
THE COOPERATION AGREEMENT. The Company is pleased to announce that on 18 May 2017 (after trading hours), Hangzhou Haoyu (an indirect wholly-owned subsidiary of the Company) and Jiangxi Broadcasting entered into the Cooperation Agreement, pursuant to which the Parties have agreed to cooperate to develop and operate the Integrated Information Service Platform on the network of Jiangxi Broadcasting.
THE COOPERATION AGREEMENT. Incidental to the Completion of the Subscription as a Conditions Precedent, on 7 June 2022, ICDL, the Target Company and the Investor entered into the Cooperation Agreement. The Cooperation Agreement stipulates various rights of the shareholders in the Target Company and the business and operational arrangements relating to the Target Company and the Project Company.
THE COOPERATION AGREEMENT. Incidental to the Completion of the Subscription as a Conditions Precedent, on 7 June 2022, ICDL, the Target Company and the Investor entered into the Cooperation Agreement. The Cooperation Agreement stipulates various rights of the shareholders in the Target Company and the business and operational arrangements relating to the Target Company and the Project Company. The Cooperation Agreement will take effect from the Completion Date. Board Composition The board of directors of the Target Company, the Project Company, Shenzhen LVGEM Hexing and Shenzhen LVGEM Management shall all comprise the same group of five directors, one of whom shall be nominated by the Investor and the remaining four directors by ICDL. The chairman of the board of directors for both the Target Company and the Project Company shall be a director nominated by ICDL. If any of the directors of the Target Company and the Project Company are being dismissed or cease to hold office due to any other reasons, the original nominating party shall nominate a new director, and the Investor and ICDL shall cooperate in approving the relevant shareholder resolutions for the change of board members. Each of the Target Company and the Project Company shall have one supervisor, who shall be nominated by ICDL.
THE COOPERATION AGREEMENT. On 8 December 2017, Merchants Nanjing (an indirect non wholly-owned subsidiary of the Company) and Nanjing Vanke entered into the Cooperation Agreement, pursuant to which Nanjing Vanke has agreed to transfer 14.28% of the registered capital of Nanjing Huihe to Merchants Nanjing and Merchants Nanjing has agreed to bear the Previous Contribution made by Nanjing Vanke for acquiring and developing the Nanjing Land in proportion to its proposed shareholding in Nanjing Huihe together with the related fund possession fee in the total amount of approximately RMB806,324,017. The principal terms of the Cooperation Agreement are summarised as follows: Date
