SINOLINK HOLD cancels the transfer agreement
SINOLINK HOLD announced the cancellation of the transfer agreement between the transferor, transferee, and the school. Due to the notice from the Education Bureau of Luohu District, Shenzhen, that the school's operating certificate will be revoked, the contracting parties agreed to abolish the agreement and release all related obligations and responsibilities. The school remains an asset of the transferor, who must liquidate in accordance with the requirements of the Education Bureau
According to the announcement from SINOLINK HOLD (01168), the transferor, transferee, and the school (collectively referred to as the "Contracting Parties") entered into a transfer agreement on March 3, 2025, where the transferor agreed to transfer and the transferee agreed to accept the school's business for a consideration of zero. The school was notified by the Luohu District Education Bureau of Shenzhen (the Education Bureau) that the "Private School Operating License of the People's Republic of China" and the "Registration Certificate for Non-Enterprise Legal Persons" (collectively referred to as the "Operating Certificates") will be revoked in accordance with existing regulations. In light of the revocation of the school's Operating Certificates, the Contracting Parties agreed to abolish the transfer agreement, which will become invalid and have no legal effect, and the Contracting Parties will fully release all and any obligations and liabilities under the transfer agreement. The school remains an asset of the transferor, and the transferor shall handle the liquidation matters of the school as notified by the Education Bureau
