ZY Technology: Termination of Major Asset Restructuring Matters
ZYST announced that the company has signed a "Termination Agreement" regarding the termination of the equity acquisition with the target company and the trading counterpart. Given that the equity acquisition has taken a long time and the market environment has changed significantly since the initial planning of the equity acquisition transaction, the parties have failed to reach a consensus on the core terms of the transaction after multiple rounds of negotiations. All parties unanimously agreed to terminate this equity acquisition. The company originally intended to acquire 55% of the equity of the target company in cash and gain control of the target company. After the completion of this transaction, Botemon will become a controlling subsidiary of the listed company and will be included in the consolidated financial statements of the listed company
