Common Contracts
1 similar null contracts
BACKGROUNDJuly 15th, 2009
Pursuant to the Taihang Huaxin Entrustment Agreement, our Parent entrusted to us all the rights and benefits (except for certain reserved matters as described in “Relationship with Controlling Shareholder—Entrustment Agreement in Respect of Taihang Cement”) in the Entrusted Equity Interests, including the voting rights, the right to nominate directors and the right to receive dividends, etc. As a result, we are a controlling shareholder of Taihang Huaxin. In addition, we have an option to acquire the Entrusted Equity Interests at any time during the entrustment period on terms and conditions to be determined by our Parent and our Company. We and our Parent currently intend that the purchase price of the Entrusted Equity Interests will be based on the lowest price as allowed by competent PRC authority, including SASAC, calculated by reference to the valuation and market value of the Entrusted Equity Interests. We believe that such purchase price would be commercially favourable to us an
