Common Contracts

ASSET PURCHASE AGREEMENT IN RELATION TO ACQUISITION OF POWER PLANT

February 18th, 2009

• Filed
  February 18th, 2009

The Board of Directors of ecoWise Holdings Limited (“the Company”) wishes to announce that the Company’s subsidiary, Wuhan ecoWise Energy Co Ltd., a 51% subsidiary of ecoWise Energy Pte Ltd (a wholly owned subsidiary of ecoWise Holdings Limited had) on 10 Feb 2009 signed a Asset Purchase Agreement (“the Agreement”) with the Wuhan Dongxihu District Government (“the Vendor”) to acquire all the tangible and intangible assets of Wuhan Shiyuan Thermal Power Co., Ltd (“the Assets”) including but not limited to land use rights, buildings and other infrastructure (“the Acquisition”) for a consideration of RMB 22.8 million. The consideration for the Acquisition was arrived at a willing buyer, willing seller basis.