Acquisition Agreement By and among ChinaCast Education Corporation, Yu Pei Information Technology (Shanghai) Limited and Beijing Heng Tai Jufu Investment Limited. (Summary Translation)Acquisition Agreement • February 15th, 2008 • Chinacast Education Corp • Services-educational services
This Agreement, dated February 11, 2008, by and among ChinaCast Education Corporation (“ChinaCast”), a Delaware corporation, Yu Pei Information Technology (Shanghai) Limited, the wholly-owned China subsidiary of ChinaCast (“ChinaCast” or “Yu Pei” or “Transferee”), and Beijing Heng Tai Jufu Investment Limited (“Heng Tai” or “Transferor”), a shareholder of 80% of outstanding shares of Hai Lai Education Technology Limited (“Hai Lai”). Pursuant to this Agreement, the Transferee shall acquire the entire shareholdings of Hai Lai currently held by Heng Tai. Hai Lai holds 100% of the Foreign Trade Business College of Chongqing Normal University (“FTBC”) and Hai Yuen Company Limited(“Hai Yuen”), a newly set up service company.
