ICW: Termination of Major Asset Restructuring Matters
ICW announced the termination of the major asset restructuring with Shanghai Yongrui, as the equity of the transaction target is still in a frozen state, restricting transfer and not meeting regulatory requirements. The company will reassess the feasibility of the transaction after the restrictions are lifted
According to the Zhitong Finance APP, ICW (600187.SH) announced that the company plans to acquire relevant shares held by Shanghai Yongrui Enterprise Management Partnership (Limited Partnership) (“Shanghai Yongrui”) in Zhuhai Wenshenghui Capital Investment Co., Ltd. (hereinafter referred to as “Zhuhai Wenshenghui” or “target company”) by cash payment. Since the planning of this transaction, the company has strictly followed relevant laws and regulations and actively organized all parties involved to promote this transaction. As of the date of this announcement, the equity of the transaction target is still in a frozen state, and there are restrictions on transfer. It does not meet the relevant provisions of Article 4 of the “Regulatory Guidelines No. 9 for Listed Companies - Regulatory Requirements for Planning and Implementing Major Asset Restructuring by Listed Companies.” In order to effectively protect the interests of the company and all shareholders, after thorough and prudent research and friendly consultation with the counterparty, the company intends to terminate this transaction and will reassess the feasibility of proceeding after the relevant transfer restrictions are lifted
