Equity Transferring Agreement
EXHIBIT
10.30
Party
A (Assignor): SinoHub SCM Shanghai Ltd.
Party
B (Assignee): SinoHub Electronics Shenzhen Ltd.
In
order to expand the logistic business in the east China, and better serve and
assist with the goods circulation in the eastern and southern area of China,
SinoHub Electronics Shenzhen Ltd. (Party B) invested RMB10,000,000 in Shanghai
in 2005 to establish SinoHub SCM Shanghai Ltd. (Party A), the business scope of
which involves the international trade and commissioned customs declarations.
Due to the policy restriction of the time being, only the domestic-funded
companies are authorized to be engaged in commissioned customs declarations for
import and export business; therefore, SinoHub SCM Shanghai Ltd. (Party A) was
only capable of being registered under domestic capital. As a matter of fact,
SinoHub Electronics Shenzhen Ltd. (Party B) is a fully foreign-capital-owned
company, its investment on Party A could only be entrusted to domestic personnel
for registration. Upon the approval of the board of directors of Party B, Xx.
Xxxxxx Xx was entrusted to hold the equity of SinoHub SCM Shanghai Ltd. as
trustee under a declaration of trust agreement. Both parties agreed that SinoHub
Electronics Shenzhen would purchase the equity of SinHub SCM Shanghai Limited
for a nominal amount of money when it was regarded as proper by Party
B.
Party
A and Party B do hereby agree on changing the equity of Party A as
follows:
Now
Party B ratifies the necessity of withdrawing the administration of Party A, and
negotiates with Party A that Party A shall sell the equity under its investor
Xx. Xxxxxx Xx to Party B at the price of RMB100, and Party A shall be liable for
all the rights and obligations from the day when Party B was funded to the day
when it was sold. The original investor and its legal representative of Party A,
Xx. Xxxxxx Xx, shall not have any administrative rights and ownership of the
SinoHub SCM Shanghai Limited after January 17, 2008.
Upon
the signature of both parties on this Agreement, Party B shall set about the
relative issues concerning the equity transfer, and Party A shall assist with
all the procedures without reserve.
|
Party
A: SinoHub SCM Shanghai Ltd.
|
Party
B: SinoHub Electronics Shenzhen Ltd.
|
|
Legal
representative: /s/Xxxxxx Xx
|
Legal
representative: /s/Xxxxx X. Xxxxxxx
|
|
January
17, 2008
|
January
17, 2008
|
