Examples of Target Assets in a sentence
As each of the Buyer Sinoma Science & Technology (Chengdu) and the Seller Sinoma IT (Chengdu) are subsidiaries of the Company, the Acquisition constitutes the Group’s internal assets restructuring and results in substance the Company’s acquisition of approximately 32.37% of the equity interests in the Target Assets.
Pursuant to the Assets Acquisition Agreement, the Target Assets include the factory buildings, land use rights and related machinery and equipment and electronic equipment owned by the Seller located at Xx. 000 xxx Xx. 000, Xxxxxxxx Xxxx Xxxx, Xxxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx Xxxx, Xxxxxxx Xxxxxxxx, the PRC (中國四川省成都市新津區金華鎮平塘東路000號、000號).
Shareholders and potential investors of the Company should note that the final Total Consideration for the Proposed Acquisition may be adjusted downward subject to the Parties' negotiation with reference to the final appraised value of the Target Assets to be set out in the Asset Valuation Report, hence may be less than RMB2.2 billion.
According to the Valuation Report dated 8 May 2024 issued by North Asia Assets Assessment Co., Ltd., as at the Valuation Reference Date (i.e. 31 January 2024), the Target Assets are valued using the cost method (for buildings, structures and equipment) and the benchmark land price method (for land), and the Appraised Value is RMB89.7232 million.
As such, Shareholders and potential investors of the Company should also note that the final appraised value of the Target Assets to be set out in the Asset Valuation Report will be influential to the determination of the final Total Consideration.