AGREEMENT AND PLAN OF MERGER
Execution
Copy
This
AGREEMENT
AND PLAN OF MERGER
(this
“Agreement”)
has
been made as of October 19, 2007, by and among Best Care, Inc., a Nevada
corporation (“BCI”),
BCAE
Merger Sub, Inc., a Nevada corporation and a wholly-owned Subsidiary of BCI
(“Sub”),
China
Baolong Logistic Limited, a British Virgin Islands corporation (“CBL”),
and
the shareholders of CBL, each of whom is identified on Schedule
A
to this
Agreement (the “CBL
Shareholders”).
Whereas,
the
respective Boards of Directors of BCI, Sub and CBL have approved the merger,
pursuant and subject to the terms and conditions of this Agreement, of Sub
with
and into CBL (the “Merger”),
whereby all of the issued and outstanding shares of the Common Stock of CBL
(the
“CBL
Common Stock”)
will be
converted into the right to receive a specified number of shares of the Common
Stock of BCI (the “BCI
Common Stock”);
and
the parties each desire to make certain representations, warranties and
agreements in connection with the Merger and also to prescribe various
conditions to the Merger;
Now,
Therefore,
in
consideration of the premises and the representations, warranties and covenants
herein contained, the parties agree to effect the Merger on the terms and
conditions herein provided and further agree as follows:
ARTICLE
1. DEFINITIONS
1.1 Definitions.
In
addition to the other definitions contained in this Agreement, the following
terms will, when used in this Agreement, have the following respective
meanings:
“Affiliate”
means a
Person that, directly or indirectly, controls, is controlled by, or is under
common control with, the referenced party.
“BVI”
British
Virgin Islands.
“Claim”
means
any
contest, claim, demand, assessment, action, suit, cause of action, complaint,
litigation, proceeding, hearing, arbitration, investigation or notice of any
of
the foregoing involving any Person.
“Closing”
means
the consummation of the Merger.
“Code”
means
the Internal Revenue Code of 1986, as amended, together with all rules and
regulations promulgated thereunder.
“Constituent
Corporations”
means
CBL and Sub, as the constituent corporations of the Merger.
“GAAP”
means
United States generally accepted accounting practices.
“GCL”
means
the
Nevada General Corporation Law.
“Person”
means
and includes any individual, partnership, corporation, trust, company,
unincorporated organization, joint venture or other entity, and any Governmental
Entity.
“Record
Holder”
means a
holder of record of CBL Common Stock as shown on the regularly maintained stock
transfer records of CBL.
“Subsidiary”
means,
with respect to any Person, any corporation, partnership, joint venture, trust
or other entity of which such Person, directly or indirectly through an
Affiliate, owns an amount of voting securities, or possesses other ownership
interests, having the power, direct or indirect, to elect a majority of the
Board of Directors or other governing body thereof.
“Surviving
Corporation” means
CBL, as the surviving corporation of the Merger.
“U.S.”
means
the
United States of America.
1.2 Interpretation.
In
this
Agreement, unless the express context otherwise requires:
(a) the
words
“herein,” “hereof”
and
“hereunder
and
words
of similar import refer to this Agreement as a whole and not to any particular
provision of this Agreement;
(b) references
to “Article”
or
“Section”
are
to
the respective Articles and Sections of this Agreement, and references to
“Exhibit”
or
“Schedule”
are to
the respective Exhibits and Schedules annexed hereto;
(c) references
to a “party”
means a
party to this Agreement and include references to such party’s successors and
permitted assigns;
(d) references
to a “third
party”
means a
Person that is neither a Party to this Agreement nor an Affiliate thereof;
(e) the
terms
“dollars”
and
“$”
means
U.S. dollars;
(f) terms
defined in the singular have a comparable meaning when used in the plural,
and
vice versa;
(g) the
masculine pronoun includes the feminine and the neuter, and vice versa, as
appropriate in the context; and
(h) wherever
the word “include,” “includes”
or
“including
is
used
in this Agreement, it will be deemed to be followed by the words “without
limitation.”
ARTICLE
2. THE MERGER
2.1 Effective
Time of the Merger.
Subject
to the provisions of this Agreement, the Merger will be consummated by the
filing with the Secretary of State of the State of Nevada of articles of merger,
in such form as required by, and signed and attested in accordance with, the
relevant provisions of the GCL and by the filing with the of the BVI of articles
of merger, in such form as required by, and signed and attested in accordance
with, the relevant provisions of the GCL (the time of the filing of such
instruments as occurs second or such later time and date as is specified in
such
filings being the “Effective
Time”).
It is
the intent of the parties to cause such filings to be made no later than the
Closing Date.
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2.2 Closing.
The
Closing will take place at 10:00 a.m., local time, on the earliest date
practicable after all of the conditions set forth in Articles 7 and 8 are
satisfied or waived by the appropriate party, but in no event later than the
applicable date referred to in Section 10.1(d) (the “Closing
Date”),
unless
another time, date or place is agreed to in writing by the parties.
2.3 Effects
of the Merger.
By
virtue
of the Merger and without the necessity of any action by or on behalf of the
Constituent Corporations, or either of them:
(a) at
the
Effective Time, (i) the separate existence of Sub will cease, and Sub will
be
merged with and into CBL, and (ii) the certificate of incorporation and bylaws
of CBL as in effect immediately prior to the Effective Time will be the
certificate of incorporation and bylaws of the Surviving Corporation until
thereafter amended; and
(b) at
and
after the Effective Time, the Surviving Corporation will possess all the rights,
privileges, powers and franchises of a public as well as of a private nature,
and be subject to all the restrictions, disabilities and duties, of each of
the
Constituent Corporations; and all property, real, personal and mixed, and all
debts due to either of the Constituent Corporations on whatever account, as
well
for stock subscriptions as all other things in action or belonging to each
of
the Constituent Corporations will be vested in the Surviving Corporation; and
all property, rights, privileges, powers and franchises, and all and every
other
interest of each of the Constituent Corporations will be thereafter as
effectually be the property of the Surviving Corporation as they were of the
respective Constituent Corporations, and the title to any real estate vested
by
deed or otherwise, in either of the Constituent Corporations, will not revert
or
be in any way impaired; but all rights of creditors and all liens upon any
property of either of the Constituent Corporations will be preserved unimpaired,
and all debts, liabilities and duties of the respective Constituent Corporations
will thereafter attach to the Surviving Corporation, and may be enforced against
it to the same extent as if such debts and liabilities had been incurred or
contracted by it.
ARTICLE
3. EFFECT OF MERGER ON CAPITAL STOCK
3.1 Effect
on Capital Stock.
As
of the
Effective Time, by virtue of the Merger and without any action on the part
of
any holder of shares of CBL Common Stock or of shares of the capital stock
of
Sub:
(a) Capital
Stock of Sub. Each
issued and outstanding share of the capital stock of Sub will be converted
into
the right to receive one fully paid and non-assessable share of the capital
stock of the Surviving Corporation.
(b) Cancellation
of Treasury Stock. Shares
of
common stock of CBL (“Common Stock”), if any, that are held by CBL as treasury
stock will be cancelled and retired and will cease to exist, and no Merger
Consideration will be delivered in exchange therefor. Any shares of common
stock
of BCI (“BCI Common Stock”), if any, owned by CBL or the CBL Shareholders as of
the Effective Time will remain unaffected by the Merger.
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(c) Exchanged
Shares; Merger
Consideration.
(i) “Exchanged
Shares”
means
all shares of CBL Common Stock issued and outstanding immediately prior to
the
Effective Time other than shares of CBL Common Stock, if any, held by CBL as
treasury stock
(ii) The
consideration to the CBL Shareholders in the Merger will consist of an aggregate
of 89,192,441 shares of BCI Common Stock (the “Merger Consideration”). The
“Merger Consideration” shall be distributed among the CBL Shareholders
proportionately in accordance with their shareholdings as set forth on
Schedule
A
hereto.
(d) Exchange
of Exchanged Shares for Merger Consideration.
As of
the Effective Time, by virtue of the Merger, each issued and outstanding
Exchanged Share will be converted into the right to receive the Merger
Consideration due in respect thereof, payable, to the Record Holders of
Exchanged Shares at the Effective Time. As of the Effective Time, all
shares of CBL Common Stock will no longer be outstanding and will automatically
be cancelled and retired and will cease to exist, and each holder of a
certificate representing any such shares will cease to have any rights with
respect thereto, except the right to receive the Merger Consideration therefor,
without interest, upon the surrender of such certificate in accordance with
Section 3.2.
3.2 Exchange
of Merger Consideration for Exchanged Shares.
(a) Exchange.
On the
Closing Date, the holders of all of the CBL Common Stock shall deliver to BCI
certificates or other documents evidencing all of the issued and outstanding
CBL
Common Stock, duly endorsed in blank or with executed power attached thereto
in
transferable form. In exchange for all of the CBL Common Stock tendered pursuant
hereto, BCI shall issue to CBL Shareholders the Merger Consideration pro
.
(b) No
Further Ownership Rights in CBL Common Stock.
All
shares of BCI Common Stock issued upon the surrender for exchange of shares
of
CBL Common Stock in accordance with the terms hereof will be deemed to have
been
issued in full satisfaction of all rights pertaining to such shares of CBL
Common Stock, and there will be no further registration of transfers of the
shares of CBL Common Stock (other than shares held directly or indirectly by
BCI) after the Effective Time. If, after the Effective Time, certificates
representing CBL Common Stock are presented to the Surviving Corporation or
its
transfer agent for any reason, such certificates will be cancelled and exchanged
as provided by this Article 3.
ARTICLE
4. REPRESENTATIONS
AND WARRANTIES OF CBL
CBL
and
each of the CBL Shareholders jointly and severally represent and warrant to
BCI
and to Sub as follows, as of the date hereof and as of the Closing Date:
4.1 Organization.
CBL
is a
corporation duly organized, validly existing and in good standing under the
laws
of British Virgin Island and has the corporate power and is duly authorized,
qualified, franchised and licensed under all applicable laws, regulations,
ordinances and orders of public authorities to own all of its properties
and
assets and to carry on its business in all material respects as it is now
being
conducted, including qualification to do business as a foreign entity in
the
country or states in which the character and location of the assets owned
by it
or the nature of the business transacted by it requires qualification. Included
in the attached Schedules (as hereinafter defined) are complete and correct
copies of the articles of incorporation, bylaws and amendments thereto as
in
effect on the date hereof. The execution and delivery of this Agreement does
not
and the consummation of the transactions contemplated by this Agreement in
accordance with the terms hereof will not, violate any provision of CBL’s
certificate of incorporation or bylaws. CBL has full power, authority and
legal
right and has taken all action required by law, its articles of incorporation,
bylaws or otherwise to authorize the execution and delivery of this
Agreement.
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4.2 Capitalization.
The
authorized capitalization of CBL consists of 50,000 shares of common stock,
no
par value and no preferred shares. As of the date hereof, there are 50,000
shares of common stock issued and outstanding. All issued and outstanding common
shares have been legally issued, fully paid, are non-assessable and not issued
in violation of the preemptive rights of any other person. CBL has no other
securities, warrants or options authorized or issued.
4.3 Subsidiaries.
CBL
owns
100% of Beijing Baolong Logistics Company Limited, a China corporation (herein,
“BBL”).
4.4 Tax
Matters; Books & Records
(a) The
books
and records, financial and others, of CBL and BBL are in all material respects
complete and correct and have been maintained in accordance with good business
accounting practices; and
(b) Neither
CBL nor BBL has any liabilities with respect to the payment of any country,
federal, state, county, local or other taxes (including any deficiencies,
interest or penalties).
(c) Each
of
CBL and BBL shall remain responsible for all debts incurred by it prior to
the
closing.
4.5 Information.
The
information concerning CBL and BBL as set forth in this Agreement and in the
attached Schedules is complete and accurate in all material respects and does
not contain any untrue statement of a material fact or omit to state a material
fact required to make the statements made, in light of the circumstances under
which they were made, not misleading.
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4.6 Title
and Related Matters.
Each
of
CBL and BBL has good and marketable title to and is the sole and exclusive
owner
of all of its properties, inventory, interests in properties and assets, real
and personal (collectively, the “Assets”) free and clear of all liens, pledges,
charges or encumbrances. Except as set forth in the Schedules attached hereto,
each of CBL and BBL owns free and clear of any liens, claims, encumbrances,
royalty interests or other restrictions or limitations of any nature whatsoever,
any and all procedures, techniques, marketing plans, business plans, methods
of
management or other information utilized in connection with its business. Except
as set forth in the attached Schedules, no third party has any right to, and
neither CBL nor BBL has received any notice of infringement of or conflict
with
asserted rights of others with respect to any product, technology, data, trade
secrets, know-how, proprietary techniques, trademarks, service marks, trade
names or copyrights which, singly or in the aggregate, if the subject of an
unfavorable decision, ruling or finding, would have a materially adverse affect
on the business, operations, financial conditions or income of CBL or BBL or
any
material portion of their properties, assets or rights.
4.7 Litigation
and Proceedings
There
are
no actions, suits or proceedings pending or threatened by or against or
affecting CBL or BBL, at law or in equity, before any court or other
governmental agency or instrumentality, domestic or foreign or before any
arbitrator of any kind that would have a material adverse effect on the
business, operations, financial condition, income or business prospects of
CBL
or BBL. Neither CBL nor BBL has any knowledge of any default on its part with
respect to any judgment, order, writ, injunction, decree, award, rule or
regulation of any court, arbitrator or governmental agency or
instrumentality.
4.8 Contracts.
On
the
Closing Date:
(a) Except
as
set forth on Schedule, there are no material contracts, agreements, franchises,
license agreements, or other commitments to which CBL or BBL is a party or
by
which it or any of its properties are bound;
(b) Neither
CBL nor BBL is party to any contract, agreement, commitment or instrument or
subject to any charter or other corporate restriction or any judgment, order,
writ, injunction, decree or award which materially and adversely affects, or
in
the future may (as far as CBL or BBL can now foresee) materially and adversely
affect, the business, operations, properties, assets or conditions of CBL or
BBL; and
(c) Neither
CBL nor BBL is party to any material oral or written: (i) contract for the
employment of any officer or employee; (ii) profit sharing, bonus, deferred
compensation, stock option, severance pay, pension, benefit or retirement plan,
agreement or arrangement covered by Title IV of the Employee Retirement Income
Security Act, as amended; (iii) agreement, contract or indenture relating to
the
borrowing of money; (iv) guaranty of any obligation for the borrowing of money
or otherwise, excluding endorsements made for collection and other guaranties
of
obligations, which, in the aggregate exceeds $1,000; (v) consulting or other
contract with an unexpired term of more than one year or providing for payments
in excess of $10,000 in the aggregate; (vi) collective bargaining agreement;
or
(vii) contract, agreement, or other commitment involving payments by it for
more
than $10,000 in the aggregate.
6
4.9 No
Conflict With Other Instruments.
The
execution of this Agreement and the consummation of the transactions
contemplated by this Agreement will not result in the breach of any term or
provision of, or constitute an event of default under, any material indenture,
mortgage, deed of trust or other material contract, agreement or instrument
to
which CBL or BBL is party or to which any of its properties or operations are
subject.
4.10 Material
Contract Defaults.
To
the
best knowledge and belief of CBL and BBL, neither CBL nor BBL is in default
in
any material respect under the terms of any outstanding contract, agreement,
lease or other commitment which is material to the business, operations,
properties, assets or condition of CBL or BBL, and there is no event of default
in any material respect under any such contract, agreement, lease or other
commitment in respect of which CBL or BBL has not taken adequate steps to
prevent such a default from occurring.
4.11
Governmental Authorizations.
To
the
best knowledge of CBL and BBL, each of CBL and BBL has all licenses, franchises,
permits and other governmental authorizations that are legally required to
enable it to conduct its business operations in all material respects as
conducted on the date hereof. Except for compliance with federal and state
securities or corporation laws, no authorization, approval, consent or order
of,
or registration, declaration or filing with, any court or other governmental
body is required in connection with the execution and delivery by CBL and the
CBL Shareholders of the transactions contemplated hereby.
4.12 Compliance
With Laws and Regulations.
To
the
best knowledge and belief of CGD and BBL, CBL and BBL has complied with all
applicable statutes and regulations of any federal, state or other governmental
entity or agency thereof, except to the extent that noncompliance would not
materially and adversely affect the business, operations, properties, assets
or
condition of CBL or BBL or would not result in CBL’s or BBL’s incurring any
material liability.
4.13 Insurance.
All
of
the insurable properties of CBL and BBL are insured for CBL’s benefit under
valid and enforceable policy or policies containing substantially equivalent
coverage and will be outstanding and in full force at the Closing
Date.
4.14 Approval
of Agreement.
The
directors of CBL have authorized the execution and delivery of the Agreement
and
have approved the transactions contemplated hereby.
7
4.15 Material
Transactions or Affiliations.
As
of the
Closing Date, there will exist no material contract, agreement or arrangement
between CBL or BBL and any person who was at the time of such contract,
agreement or arrangement an officer, director or person owning of record, or
known by CBL or BBL to own beneficially, ten percent (10%) or more of the issued
and outstanding Common Shares of CBL and which is to be performed in whole
or in
part after the date hereof. Neither CBL nor BBL has any commitment, whether
written or oral, to lend any funds to, borrow any money from or enter into
any
other material transactions with, any such affiliated person.
ARTICLE
5. REPRESENTATIONS
AND WARRANTIES OF BCI
BCI
represents and warrants to CBL, as of the date hereof and as of the Closing
Date, as follows:
5.1 Organization.
BCI
is a
corporation duly organized, validly existing, and in good standing under the
laws of Nevada and has the corporate power and is duly authorized, qualified,
franchised and licensed under all applicable laws, regulations, ordinances
and
orders of public authorities to own all of its properties and assets and to
carry on its business in all material respects as it is now being conducted,
including qualification to do business as a foreign corporation in the
jurisdiction in which the character and location of the assets owned by it
or
the nature of the business transacted by it requires qualification. The
execution and delivery of this Agreement does not and the consummation of the
transactions contemplated by this Agreement in accordance with the terms hereof
will not violate any provision of BCI’s articles of incorporation or bylaws. BCI
has full power, authority and legal right and has taken all action required
by
law, its articles of incorporation, and its bylaws or otherwise to authorize
the
execution and delivery of this Agreement.
5.2 Capitalization.
The
authorized capitalization of BCI consists of 100,000,000 shares of common stock,
$0.001 par value per share. As of the date hereof, BCI has approximately
4,250,000 shares of common stock issued and outstanding. All issued and
outstanding shares are legally issued, fully paid and non-assessable and are
not
issued in violation of the preemptive or other rights of any person.
5.3 Subsidiaries.
BCI
has
no subsidiaries other than Sub.
5.4 Tax
Matters: Books and Records.
(a) The
books
and records, financial and others, of BCI are in all material respects complete
and correct and have been maintained in accordance with good business accounting
practices; and
(b) BCI
has
no liabilities with respect to the payment of any country, federal, state,
county, or local taxes (including any deficiencies, interest or
penalties).
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(c) BCI
shall
remain responsible for all debts incurred by BCI prior to the date of
closing.
5.5 Litigation
and Proceedings.
There
are
no actions, suits, proceedings or investigations pending or threatened by or
against or affecting BCI or its properties, at law or in equity, before any
court or other governmental agency or instrumentality, domestic or foreign
or
before any arbitrator of any kind that would have a material adverse affect
on
the business, operations, financial condition or income of BCI. BCI is not
in
default with respect to any judgment, order, writ, injunction, decree, award,
rule or regulation of any court, arbitrator or governmental agency or
instrumentality or of any circumstances which, after reasonable investigation,
would result in the discovery of such a default.
5.6 Material
Contract Defaults.
BCI
is
not in default in any material respect under the terms of any outstanding
contract, agreement, lease or other commitment which is material to the
business, operations, properties, assets or condition of BCI, and there is
no
event of default in any material respect under any such contract, agreement,
lease or other commitment in respect of which BCI has not taken adequate steps
to prevent such a default from occurring.
5.7 Information.
The
information concerning BCI as set forth in this Agreement and in the attached
Schedules is complete and accurate in all material respects and does not contain
any untrue statement of a material fact or omit to state a material fact
required to make the statements made in light of the circumstances under which
they were made, not misleading.
5.8 Title
and Related Matters.
BCI
has
good and marketable title to and is the sole and exclusive owner of all of
its
properties, inventory, interest in properties and assets, real and personal
(collectively, the “Assets”)
free
and clear of all liens, pledges, charges or encumbrances. BCI owns free and
clear of any liens, claims, encumbrances, royalty interests or other
restrictions or limitations of any nature whatsoever and all procedures,
techniques, marketing plans, business plans, methods of management or other
information utilized in connection with BCI’s business. No third party has any
right to, and BCI has not received any notice of infringement of or conflict
with asserted rights of other with respect to any product, technology, data,
trade secrets, know-how, proprietary techniques, trademarks, service marks,
trade names or copyrights which, singly on in the aggregate, if the subject
of
an unfavorable decision ruling or finding, would have a materially adverse
affect on the business, operations, financial conditions or income of BCI or
any
material portion of its properties, assets or rights.
5.9 Contracts.
On
the
Closing Date:
(a) There
are
no material contracts, agreements franchises, license agreements, or other
commitments to which BCI is a party or by which it or any of its properties
are
bound;
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(b) BCI
is
not a party to any contract, agreement, commitment or instrument or subject
to
any charter or other corporate restriction or any judgment, order, writ,
injunction, decree or award materially and adversely affects, or in the future
may (as far as BCI can now foresee) materially and adversely affect, the
business, operations, properties, assets or conditions of BCI; and
(c) BCI
is
not a party to any material oral or written: (i) contract for the employment
of
any officer or employee; (ii) profit sharing, bonus, deferred compensation,
stock option, severance pay, pension benefit or retirement plan, agreement
or
arrangement covered by Title IV of the Employee Retirement Income Security
Act,
as amended; (iii) agreement, contract or indenture relating to the borrowing
of
money; (iv) guaranty of any obligation for the borrowing of money or otherwise,
excluding endorsements made for collection and other guaranties, of obligations,
which, in the aggregate exceeds $1,000; (v) consulting or other contract with
an
unexpired term of more than one year or providing for payments in excess of
$10,000 in the aggregate; (vi) collective bargaining agreement; (vii) contract,
agreement or other commitment involving payments by it for more than $10,000
in
the aggregate.
5.10 Compliance
With Laws and Regulations.
To
the
best of BCI’s knowledge and belief, BCI has complied with all applicable
statutes and regulations of any federal, state or other governmental entity
or
agency thereof, except to the extent that noncompliance would not materially
and
adversely affect the business, operations, properties, assets or condition
of
BCI or would not result in BCI incurring material liability.
5.11 Insurance.
BCI
maintains no insurance policies.
5.12 Approval
of Agreement.
The
directors of BCI have authorized the execution and delivery of the Agreement
by
and have approved the transactions contemplated hereby.
5.13 Material
Transactions or Affiliations.
There
are
no material contracts or agreements of arrangement between BCI and any person,
who was at the time of such contract, agreement or arrangement an officer,
director or person owning of record, or known to beneficially own ten percent
(10%) or more of the BCI Common Stock and which is to be performed in whole
or
in part after the date hereof. Except as disclosed in the attached Schedule,
BCI
has no commitment, whether written or oral, to lend any funds to, borrow any
money from or enter into material transactions with any such affiliated person.
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5.14 No
Conflict With Other Instruments.
The
execution of this Agreement and the consummation of the transactions
contemplated by this Agreement will not result in the breach of any term or
provision of, or constitute an event of default under, any material indenture,
mortgage, deed of trust or other material contract, agreement or instrument
to
which BCI is a party or to which any of its properties or operations are
subject.
5.15 Governmental
Authorizations.
BCI
has
all licenses, franchises, permits or other governmental authorizations legally
required to enable it to conduct its business in all material respects as
conducted on the date hereof. Except for compliance with federal and state
securities and corporation laws, as hereinafter provided, no authorization,
approval, consent or order of, or registration, declaration or filing with,
any
court or other governmental body is required in connection with the execution
and delivery by BCI of this Agreement and the consummation of the transactions
contemplated hereby.
ARTICLE
6. SPECIAL
COVENANTS
6.1 Access
to Properties and Records.
Prior
to
closing, BCI and CBL will each afford to the officers and authorized
representatives of the other full access to the properties, books and records
of
each other, in order that each may have full opportunity to make such reasonable
investigation as it shall desire to make of the affairs of the other and each
will furnish the other with such additional financial and operating data and
other information as to the business and properties of each other, as the other
shall from time to time reasonably request.
6.2 Availability
of Rule 144.
Shareholders
of BCI and CBL Shareholders holding “restricted securities,” as that term is
defined in Rule 144 promulgated pursuant to the Securities Act recognize that
such shares will remain as “restricted securities”. BCI is under no obligation
to register such shares under the Securities Act, or otherwise.
6.3 The
Stock Merger Consideration.
The
consummation of this Agreement, including the issuance of the BCI Common Stock
to the CBL Shareholders as contemplated hereby, constitutes the offer and sale
of securities under the Securities Act, and applicable state statutes. Such
transaction shall be consummated in reliance on exemptions from the registration
and prospectus delivery requirements of such statutes that depend, inter alia,
upon the circumstances under which the CBL Shareholders acquire such securities.
6.4 Third
Party Consents.
BCI
and
CBL agree to cooperate with each other in order to obtain any required third
party consents to this Agreement and the transactions herein
contemplated.
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6.5 Actions
Prior to Closing.
(a) From
and
after the date of this Agreement until the Closing Date, except as permitted
or
contemplated by this Agreement, BCI and CBL will each use its best efforts
to:
(i) maintain
and keep its properties in states of good repair and condition as at present,
except for depreciation due to ordinary wear and tear and damage due to
casualty; and
(ii) perform
in all material respects all of its obligations under material contracts, leases
and instruments relating to or affecting its assets, properties and
business.
(b) From
and
after the date of this Agreement until the Closing Date, BCI will not, without
the prior consent of CBL:
(i) except
as
otherwise specifically set forth herein, make any change in its articles of
incorporation or bylaws;
(ii) declare
or pay any dividend on its outstanding Common Shares, except as may otherwise
be
required by law, or effect any stock split or otherwise change its
capitalization, except as provided herein;
(iii) enter
into or amend any employment, severance or agreements or arrangements with
any
directors or officers;
(iv) grant,
confer or award any options, warrants, conversion rights or other rights not
existing on the date hereof to acquire any Common Shares; or
(v) purchase
or redeem any BCI Common Stock.
(c) From
and
after the date of this Agreement until the Closing Date, CBL will not, without
the prior consent of BCI:
(i) except
as
otherwise specifically set forth herein, make any change in its articles of
incorporation or bylaws;
(ii) declare
or pay any dividend on its outstanding Common Shares, except as may otherwise
be
required by law, or effect any stock split or otherwise change its
capitalization, except as provided herein;
(iii) enter
into or amend any employment, severance or agreements or arrangements with
any
directors or officers;
(iv) grant,
confer or award any options, warrants, conversion rights or other rights not
existing on the date hereof to acquire any Common Shares; or
(v) purchase
or redeem any CBL Common Stock.
12
6.6 Indemnification.
(a) BCI
hereby agrees to indemnify CBL, each of the officers, agents and directors
and
current shareholders of CBL as of the Closing Date against any loss, liability,
claim, damage or expense (including, but not limited to, any and all expense
whatsoever reasonably incurred in investigating, preparing or defending against
any litigation, commenced or threatened or any claim whatsoever), to which
it or
they may become subject to or rising out of or based on any material inaccuracy
appearing in or misrepresentation made in this Agreement by BCI. The
indemnification provided for in this paragraph shall survive the Closing and
consummation of the transactions contemplated hereby and termination of this
Agreement for a period of two years; and
(b) CBL
and
each CBL Shareholder, jointly and severally, agrees to indemnify BCI, each
of
the officers, agents, directors and current shareholders of BCI as of the
Closing Date against any loss, liability, claim, damage or expense (including,
but not limited to, any and all expense whatsoever reasonably incurred in
investigating, preparing or defending against any litigation, commenced or
threatened or any claim whatsoever), to which it or they may become subject
arising out of or based on any inaccuracy appearing in or misrepresentation
made
in this Agreement by CBL or a CBL Shareholder. The indemnification provided
for
in this paragraph shall survive the Closing and consummation of the transactions
contemplated hereby and termination of this Agreement.
6.7 CBL
Shareholder Representations.
Each of
the CBL Shareholders represents and warrants as follows:
(a)
as
of the
date of this Agreement each of the CBL Shareholders was, and at the Closing
Date
it is, an “accredited investor” as defined in Rule 501(a) under the Securities
Act. Such CBL Shareholder has not been formed solely for the purpose of
acquiring the BCI Common Stock. Each CBL Shareholder is not a registered
broker-dealer under Section 15 of the Exchange Act.
(b)
each of
the CBL Shareholders are knowledgeable and experienced in finance and business
matters and thus they are able to evaluate the risks and merits of acquiring
the
shares of Common Stock of BCI;
(c)
each
of
the CBL Shareholders are able to bear the economic risk of purchasing the BCI
common stock;
(d)
BCI
has
provided the CBL Shareholders with access to the type of information normally
provided in a prospectus;
(e)
BCI
did
not use any form of public solicitation or general advertising in connection
with the issuance of the shares;
(f) as
to the
following CBL Shareholders (Jing-Xue Sun, Xxxx Xxxxx, Hong-Cai Xxx, Xx-Xxxxx
Xx,
Xxxx-Xxx Sun, Ruo-Gu Zhong, Xxx Xxxxx, Xin-Hua Li, Zhong-Xxx Xx, Guo-Xxx Xxxx,
Shenzhen Huayin Guaranty & Investment Company Limited, Billion Hero
Investments Limited, ARJUNO Investments Limited, Innovation Gainings Investments
Limited, Even Bright Investment Limited, Volento Investments Limited, Nation
City Investments Limited, and Quick Agent Investments Limited, collectively
the
“Offshore
CBL Shareholders”)
the
offer of such securities was not made to a person in the United States and
either (A) at the time the buy order was originated, each of the Offshore CBL
Shareholders was outside the United States (in China), or BCI and any person
acting on its behalf reasonably believed that each Offshore CBL Shareholders
was
outside the United States, or (B) the transaction was not executed on or through
the facilities of the Over the Counter Bulletin Board and neither BCI nor any
person acting on its behalf knows that the transaction has been prearranged
with
a person in the United States;
13
(g)
the
transactions contemplated hereby are bona fide and not for the purpose of
“washing off’ the resale restrictions imposed because the securities are
“restricted securities” (as that term is defined in Rule 144(a)(3) under the
0000 Xxx);
(h)
each of
the CBL Shareholders understands and acknowledges that none of the BCI Common
Stock has been registered under the Securities Act. Each CBL Shareholder is
acquiring the BCI Common Stock as principal for its own account and not with
a
view to or for distributing or reselling such securities or any part thereof,
without prejudice, however, to such CBL Shareholder's right, subject to the
provisions of this Agreement, at all times to sell or otherwise dispose of
all
or any part of such securities pursuant to an effective registration statement
under the Securities Act or under an exemption from such registration and in
compliance with applicable federal and state securities laws. Nothing contained
herein shall be deemed a representation or warranty by such CBL Shareholder
to
hold the securities for any period of time. Such CBL Shareholder is acquiring
the BCI Common Stock hereunder in the ordinary course of its business. Such
CBL
Shareholders does not have any agreement or understanding, directly or
indirectly, with any Person to distribute any of the BCI Common Stock.
(i)
Each
CBL Shareholder has good, valid and marketable title to the CBL Shares set
forth
opposite his or its name on Schedule A, free and clear of any covenant,
condition, restriction, voting arrangement, charge, security interest, option
or
adverse claim, other than restrictions on transfer under federal and applicable
state securities laws. Upon delivery of certificates representing the CBL Shares
and payment of the Merger Consideration pursuant hereto, BCI will acquire good
and marketable title to the CBL shares, free and clear of any security interest,
restrictions or claims
(j)
Each
CBL Shareholder possesses the legal right and capacity to execute, deliver
and
perform this Agreement, without obtaining any approval, authorization, consent
or waiver or giving any notice. The CBL Shareholders have taken all shareholder
action required by applicable law, the CBL’s Articles of Incorporation, By-laws
or otherwise, required to be taken to authorize the execution and delivery
of
this Agreement and the consummation of the transactions contemplated hereby.
This Agreement and all other documents to which a CBL Shareholder is a party
have been, or will be, duly executed and delivered by the CBL Shareholders
and
constitute the legal, valid and binding obligations of the CBL Shareholder
which
is a party thereto, enforceable against such Shareholder in accordance with
their respective terms, except to the extent such enforceability may be limited
by bankruptcy, insolvency, reorganization, moratorium, receivership, fraudulent
conveyance or similar laws affecting or relating to the enforcement of
creditors’ rights generally, and by equitable principles (regardless of whether
enforcement is sought in a proceeding in equity or at law).
(k) No
notice
to, consent, authorization or approval of, or exemption by, any governmental
or
public body or authority is required in connection with the execution, delivery
and performance by the CBL Shareholders of this Agreement or any other documents
to be delivered in connection herewith (“Transaction Documents”) to which a CBL
Shareholder is a party, or the taking of any action herein contemplated; and
no
notice to, consent, authorization or approval of, any Person under any
agreement, arrangement or commitment of any nature to which a CBL Shareholder
is
party to, or by which the CBL Common Shares or the assets of CBL or BBL are
bound by or subject to, or from which the CBL or BBL receives or is entitled
to
receive a benefit, is required in connection with the execution, delivery and
performance by the CBL Shareholders of this Agreement or any other Transaction
Documents to which a CBL Shareholder is a party, or the taking of any action
herein contemplated.
14
ARTICLE
7. CONDITIONS PRECEDENT TO THE OBLIGATIONS
OF
BCI AND SUB
The
obligations of BCI and Sub under this Agreement are subject to the satisfaction,
at or before the Closing Date, of the following conditions:
7.1 Accuracy
of Representations.
7.2 The
representations and warranties made by CBL and the CBL Shareholders in this
Agreement were true when made and shall be true at the Closing Date with the
same force and effect as if such representations and warranties were made at
the
Closing Date (except for changes therein permitted by this Agreement), and
CBL
and the CBL Shareholders shall have performed or complied with all covenants
and
conditions required by this Agreement to be performed or complied with by them
prior to or at the Closing.
7.3 Director
Approval.
The
Board
of Directors of BCI shall have approved this Agreement and the transactions
contemplated herein.
7.4 Officer’s
Certificate.
BCI
shall
have been furnished with a certificate dated the Closing Date and signed by
a
duly authorized officer of CBL to the effect that: (a) the representations
and
warranties of CBL and the CBL Shareholders set forth in the Agreement and in
all
exhibits, schedules and other documents furnished in connection herewith are
in
all material respects true and correct as if made on the Effective Date; (b)
CBL
and the CBL Shareholders have performed all covenants, satisfied all conditions,
and complied with all other terms and provisions of this Agreement to be
performed, satisfied or complied with by them as of the Effective Date; (c)
since such date and other than as previously disclosed to BCI, neither CBL
nor
BBL has entered into any material transaction other than transactions which
are
usual and in the ordinary course if its business; and (d) no litigation,
proceeding, investigation or inquiry is pending or, to the best knowledge of
CBL
or BBL, threatened, which might result in an action to enjoin or prevent the
consummation of the transactions contemplated by this Agreement or, to the
extent not disclosed in the CBL Schedules, by or against CBL or BBL which might
result in any material adverse change in any of the assets, properties, business
or operations of CBL or BBL.
7.5 No
Material Adverse Change.
Prior
to
the Closing Date, there shall not have occurred any material adverse change
in
the financial condition, business or operations of nor shall any event have
occurred which, with the lapse of time or the giving of notice, may cause or
create any material adverse change in the financial condition, business or
operations of CBL or BBL.
15
7.6 Other
Items.
BCI
shall
have received such further documents, certificates or instruments relating
to
the transactions contemplated hereby as BCI may reasonably request.
ARTICLE
8. CONDITIONS
PRECEDENT TO THE OBLIGATIONS
OF
CBL AND THE CBL SHAREHOLDERS
The
obligations of CBL and the CBL Shareholders under this Agreement are subject
to
the satisfaction, at or before the Closing date (unless otherwise indicated
herein), of the following conditions:
8.1 Accuracy
of Representations.
The
representations and warranties made by BCI in this Agreement were true when
made
and shall be true as of the Closing Date (except for changes therein permitted
by this Agreement) with the same force and effect as if such representations
and
warranties were made at and as of the Closing Date, and BCI shall have performed
and complied with all covenants and conditions required by this Agreement to
be
performed or complied with by BCI prior to or at the Closing. CBL shall have
been furnished with a certificate, signed by a duly authorized executive officer
of BCI and dated the Closing Date, to the foregoing effect.
8.2 No
Material Adverse Change.
Prior
to
the Closing Date, there shall not have occurred any material adverse change
in
the financial condition, business or operations of nor shall any event have
occurred which, with the lapse of time or the giving of notice, may cause or
create any material adverse change in the financial condition, business or
operations of BCI
ARTICLE
9. TERMINATION
9.1 Termination
Rights.
(a) This
Agreement may be terminated by the board of directors of either BCI or CBL,
respectively, at any time prior to the Closing Date if:
(i) there
shall be any action or proceeding before any court or any governmental body
which shall seek to restrain, prohibit or invalidate the transactions
contemplated by this Agreement and which, in the judgment of such board of
directors, made in good faith and based on the advice of its legal counsel,
makes it inadvisable to proceed with the exchange contemplated by this
Agreement; or
(ii) any
of
the transactions contemplated hereby are disapproved by any regulatory authority
whose approval is required to consummate such transactions.
In
the
event of termination pursuant to this paragraph (a), no obligation, right,
or
liability shall arise hereunder and each party shall bear all of the expenses
incurred by it in connection with the negotiation, drafting and execution of
this Agreement and the transactions herein contemplated.
16
(b) This
Agreement may be terminated at any time prior to the Closing Date by action
of
the board of directors of BCI if CBL or any CBL Shareholder shall fail to comply
in any material respect with any of its covenants or agreements contained in
this Agreement or if any of the representations or warranties of CBL or the
CBL
Shareholders contained herein shall be inaccurate in any material respect,
which
noncompliance or inaccuracy is not cured after 20 days written notice thereof
is
given to CBL. If this Agreement is terminated pursuant to this paragraph (b),
this Agreement shall be of no further force or effect and no obligation, right
or liability shall arise hereunder.
(c) This
Agreement may be terminated at any time prior to the Closing Date by action
of
the board of directors of CBL if BCI shall fail to comply in any material
respect with any of its covenants or agreements contained in this Agreement
or
if any of the representations or warranties of BCI contained herein shall be
inaccurate in any material respect, which noncompliance or inaccuracy is not
cured after 20 days written notice thereof is given to BCI If this Agreement
is
terminated pursuant to this paragraph (d), this Agreement shall be of no further
force or effect and no obligation, right or liability shall arise
hereunder.
(d) In
the
event of termination pursuant to paragraph (b) and (c) hereof, the breaching
party shall bear all of the expenses incurred by the other party in connection
with the negotiation, drafting and execution of this Agreement and the
transactions herein contemplated.
ARTICLE
10. MISCELLANEOUS
10.1 Brokers
and Finders.
Each
party hereto hereby represents and warrants that it is under no obligation,
express or implied, to pay certain finders in connection with the bringing
of
the parties together in the negotiation, execution, or consummation of this
Agreement. The parties each agree to indemnify the other against any claim
by
any third person for any commission, brokerage or finder’s fee or other payment
with respect to this Agreement or the transactions contemplated hereby based
on
any alleged agreement or understanding between the indemnifying party and such
third person, whether express or implied from the actions of the indemnifying
party.
10.2 Law,
Forum and Jurisdiction.
This
Agreement shall be construed and interpreted in accordance with the laws of
the
State of New York, United States of America, except for applicable provisions
of
the Nevada General Corporation Law, which shall control to the extent
applicable.
10.3 Notices.
Any
notices or other communications required or permitted hereunder shall be
sufficiently given if personally delivered to it or sent by registered mail
or
certified mail, postage prepaid, or by prepaid telegram addressed as
follows:
If
to
BCI: X.X. Xxx 000-000, Xxxxxxx Xxxxx Xxxx, Xxxxxxxx Xxxx, P.R. China 518031.
17
If
to
CBL: P.O. Box 3321, Drake Xxxxxxxx, Road Town, Tortola, British Virgin Islands.
or
such
other addresses as shall be furnished in writing by any party in the manner
for
giving notices hereunder, and any such notice or communication shall be deemed
to have been given as of the date so delivered, mailed or
telegraphed.
10.4 Attorneys’
Fees.
In
the
event that any party institutes any action or suit to enforce this Agreement
or
to secure relief from any default hereunder or breach hereof, the breaching
party or parties shall reimburse the non-breaching party or parties for all
costs, including reasonable attorneys’ fees, incurred in connection therewith
and in enforcing or collecting any judgment rendered therein.
10.5 Confidentiality.
Each
party hereto agrees with the other party that, unless and until the transactions
contemplated by this Agreement have been consummated, they and their
representatives will hold in strict confidence all data and information obtained
with respect to another party or any subsidiary thereof from any representative,
officer, director or employee, or from any books or records or from personal
inspection, of such other party, and shall not use such data or information
or
disclose the same to others, except: (i) to the extent such data is a matter
of
public knowledge or is required by law to be published; and (ii) to the extent
that such data or information must be used or disclosed in order to consummate
the transactions contemplated by this Agreement.
10.6 Schedules;
Knowledge.
Each
party is presumed to have full knowledge of all information set forth in the
other party’s schedules delivered pursuant to this Agreement.
10.7 Third
Party Beneficiaries.
This
contract is solely among the parties hereto and except as specifically provided,
no director, officer, stockholder, employee, agent, independent contractor
or
any other person or entity shall be deemed to be a third party beneficiary
of
this Agreement.
10.8 Entire
Agreement.
This
Agreement represents the entire agreement between the parties relating to the
subject matter hereof. This Agreement alone fully and completely expresses
the
agreement of the parties relating to the subject matter hereof. There are no
other courses of dealing, understanding, agreements, representations or
warranties, written or oral, except as set forth herein. This Agreement may
not
be amended or modified, except by a written agreement signed by all parties
hereto.
10.9 Survival;
Termination.
The
representations, warranties and covenants of the respective parties shall
survive the Closing Date and the consummation of the transactions herein
contemplated for 18 months.
18
10.10 Counterparts.
This
Agreement may be executed in multiple counterparts, each of which shall be
deemed an original and all of which taken together shall be but a single
instrument.
10.11 Amendment
or Waiver.
Every
right and remedy provided herein shall be cumulative with every other right
and
remedy, whether conferred herein, at law, or in equity, and may be enforced
concurrently herewith, and no waiver by any party of the performance of any
obligation by the other shall be construed as a waiver of the same or any other
default then, theretofore, or thereafter occurring or existing. At any time
prior to the Closing Date, this Agreement may be amended by a by all parties
hereto, with respect to any of the terms contained herein, and any term or
condition of this Agreement may be waived or the time for performance hereof
may
be extended by the party or parties for whose benefit the provision is
intended.
10.12 Expenses.
Each
party herein shall bear all of their respective cost s and expenses incurred
in
connection with the negotiation of this Agreement and in the consummation of
the
transactions provided for herein and the preparation thereof.
10.13 Headings;
Context.
The
headings of the sections and paragraphs contained in this Agreement are for
convenience of reference only and do not form a part hereof and in no way
modify, interpret or construe the meaning of this Agreement.
10.14 Benefit.
This
Agreement shall be binding upon and shall inure only to the benefit of the
parties hereto, and their permitted assigns hereunder. This Agreement shall
not
be assigned by any party without the prior written consent of the other party.
10.15 Public
Announcements.
Except
as
may be required by law, neither party shall make any public announcement or
filing with respect to the transactions provided for herein without the prior
consent of the other party hereto.
10.16 Severability.
In
the
event that any particular provision or provisions of this Agreement or the
other
agreements contained herein shall for any reason hereafter be determined to
be
unenforceable, or in violation of any law, governmental order or regulation,
such unenforceability or violation shall not affect the remaining provisions
of
such agreements, which shall continue in full force and effect and be binding
upon the respective parties hereto.
19
10.17 Failure
of Conditions; Termination.
In
the
event of any of the conditions specified in this Agreement shall not be
fulfilled on or before the Closing Date, either of the parties have the right
either to proceed or, upon prompt written notice to the other, to terminate
and
rescind this Agreement. In such event, the party that has failed to fulfill
the
conditions specified in this Agreement will liable for the other parties’ legal
fees. The election to proceed shall not affect the right of such electing party
reasonably to require the other party to continue to use its efforts to fulfill
the unmet conditions.
10.18 No
Strict Construction.
The
language of this Agreement shall be construed as a whole, according to its
fair
meaning and intendment, and not strictly for or against either party hereto,
regardless of who drafted or was principally responsible for drafting the
Agreement or terms or conditions hereof.
10.19 Execution
Knowing and Voluntary.
In
executing this Agreement, the parties severally acknowledge and represent that
each: (a) has fully and carefully read and considered this Agreement; (b) has
been or has had the opportunity to be fully apprized by its attorneys of the
legal effect and meaning of this document and all terms and conditions hereof;
(c) is executing this Agreement voluntarily, free from any influence, coercion
or duress of any kind.
[Signature
page follows]
20
In
Witness Whereof,
BCI,
Sub and CBL, each pursuant to the approval and authority duly given, as well
as
the CBL Shareholders, have caused this Agreement and Plan of Merger to be
executed as of the date first above written.
Best
Care, Inc.
|
|||
By:
|
|||
Xxxx
Xxxxx
Its
Chairman of the Board and Chief Executive Officer
|
|||
BCAE
Merger Sub, Inc.
|
|||
By:
|
|||
Xxxx
Xxxxx
Its
Chairman of the Board and Chief Executive Officer
|
|||
China
Baolong Logistic Limited
|
|||
By:
|
|
||
President/
Director: Jing-Xue Sun
|
|||
China
Baolong Logistic Limited
Shareholders
|
|||
Ying
Xxxxx
|
|||
|
|||
Xxxx-Cai
Sun
|
|||
|
|||
Yi-Xxxxx
Xx
|
|||
|
|||
Xxxx-Xxx
Sun
|
|||
Ruo-Gu
Zhong
|
|||
21
Xxx
Xxxxx
|
|||
Xin-Hua
Xx
|
|||
Xxxxx-Xxx
Xx
|
|||
Xxx-Xxx
Xxxx
|
Quick Agent Investments Limited |
Shenzhen
Huayin Guaranty & Investment Company Limited
|
|||
By:
|
By:
|
|
||
Name:
Hongli
Li
|
|
Name:
Xxxxxxx Xx
|
||
Title:
Sole Director
|
|
Title:
Sole Director
|
||
Billion Hero Investments Limited |
ARJUNO
Investments Limited
|
|||
By:
|
By:
|
|||
Name:
Xxxxxx
Xx
|
Name:
Xx
Xxxxx
|
|||
Title:
Sole Director
|
Title:
Sole Director
|
|||
Innovation Gainings Investments Limited |
Even
Bright Investment Limited
|
|||
By:
|
By:
|
|
||
Name:
Xxxxxx
Xxx
|
|
Name:
Xxxxxx Xx
|
||
Title:
Sole Director
|
Title:
Sole Director
|
|||
Volento Investments Limited |
Nation
City Investments Limited
|
|||
By:
|
By:
|
|
||
Name:
Xxxxxx
Xx
|
Name:
Xxx Xxxxx
|
|||
Title:
Sole Director
|
Title:
Sole Director
|
22
SCHEDULE
A
CBL
SHAREHOLDERS
|
||||||||||
Name
of CBL Shareholder
|
CBL
Common Stock
Ownership
%
|
Shares
of CBL
|
Shares
of BCI Common Stock
|
|||||||
Jing-Xue
Sun
|
24.0
|
%
|
12,000
|
21,406,186
|
||||||
Xxxx
Xxxxx
|
16.0
|
%
|
8,000
|
14,270,791
|
||||||
Hong-Cai Sun
|
9.0
|
%
|
4,500
|
8,027,320
|
||||||
Yi-Xxxxx
Xx
|
6.0
|
%
|
3,000
|
5,351,546
|
||||||
Xxxx-Xxx
Sun
|
5.0
|
%
|
2,500
|
4,459,622
|
||||||
Ruo-Gu
Zhong
|
0.75
|
%
|
375
|
668,943
|
||||||
Xxx
Xxxxx
|
0.75
|
%
|
375
|
668,943
|
||||||
Xin-Hua
Li
|
0.75
|
%
|
375
|
668,943
|
||||||
Zhong-Xxx
Xx
|
0.75
|
%
|
375
|
668,943
|
||||||
Guo-Xxx
Xxxx
|
0.2
|
%
|
100
|
178,385
|
||||||
Shenzhen
Huayin Guaranty & Investment Company Limited
|
6.3
|
%
|
3,150
|
5,619,124
|
||||||
Billion
Hero Investments Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
ARJUNO
Investments Limited
|
4.36
|
%
|
2,182
|
3,892,358
|
||||||
Innovation
Gainings Investments Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
Even
Bright Investment Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
Volento
Investments Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
Nation
City Investments Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
Quick
Agent Investments Limited
|
4.36
|
%
|
2,178
|
3,885,223
|
||||||
Total
|
100
|
%
|
50,000
|
89,192,441
|
23