Origin Agritech Ltd., an agriculture technology and rural e-commerce company incorporated in the British Virgin Islands, entered into share subscription agreement with Longhan Investment Management, Co., Ltd. Under the terms of the newly signed agreement, Longhan will purchase 1,397,680 shares of the BVI company, for an aggregate purchase price of US$7,743,147.20.
Previously, Origin and Longhan signed strategic co-operation agreement, according to which both companies will integrate seed treatment, soil treatment technologies and seed breeding & biotechnology, as well as Origin’s agricultural business platform. The current investment into the BVI company is expected to stimulate and speed up the strategic cooperation process.
Thursday, October 25, 2018
Wednesday, October 3, 2018
Burcon Nutrascience’s substantial shareholding sold through BVI company
Mr Chan, the director of Burcon NutraScience Corporation, announced that through its wholly owned company Firewood Elite Limited, registered in the British Virgin Islands, entered into a private agreement for sale and purchase with PT International Development Corporation Limited. According to the agreement, the BVI company purchases from PT International all the issued and outstanding shares in Large Scale Investments Limited and Great Intelligence Limited, at a total consideration of HK$34,732,000 (approximately C$5,788,667).
Before the acquisition, PT International, through its wholly-owned subsidiaries Large Scale and Great Intelligence, beneficially owns 9,866,568 common shares in the capital of Burcon NutraScience; 253,815 warrants are held by Large Scale to purchase 253,815 Burcon common shares at a price of $2.54 per share which is exercisable until November 30, 2018; and the convertible unsecured 8% promissory note in the principal amount of $2,000,000 is held by Large Scale. Also, before the acquisition Mr. Chan does not hold any Burcon common shares but holds 210,844 options issued by Burcon and exercisable to purchase common shares at prices ranging from C$0.69 to C$8.65 per share.
,As a result of the Acquisition, Mr. Chan was deemed to control Large Scale and Great Intelligence and to beneficially own the Sale Shares, the Burcon Warrants and the Note. The Burcon securities to be acquired by the BVI company will be held for investment purposes.
Before the acquisition, PT International, through its wholly-owned subsidiaries Large Scale and Great Intelligence, beneficially owns 9,866,568 common shares in the capital of Burcon NutraScience; 253,815 warrants are held by Large Scale to purchase 253,815 Burcon common shares at a price of $2.54 per share which is exercisable until November 30, 2018; and the convertible unsecured 8% promissory note in the principal amount of $2,000,000 is held by Large Scale. Also, before the acquisition Mr. Chan does not hold any Burcon common shares but holds 210,844 options issued by Burcon and exercisable to purchase common shares at prices ranging from C$0.69 to C$8.65 per share.
,As a result of the Acquisition, Mr. Chan was deemed to control Large Scale and Great Intelligence and to beneficially own the Sale Shares, the Burcon Warrants and the Note. The Burcon securities to be acquired by the BVI company will be held for investment purposes.
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