Equity Transfer Agreement between Shaanxi Changjiang Mining & New Energy Co., Ltd and Wang Sheng Li regarding Shaanxi East Mining Co., Ltd

Contract Categories: Business Finance › Purchase Agreements
Summary

This agreement is between Shaanxi Changjiang Mining & New Energy Co., Ltd (the seller) and Wang Sheng Li (the buyer). The seller agrees to transfer its 30% ownership stake in Shaanxi East Mining Co., Ltd to the buyer for RMB 2,700,000. The buyer must pay this amount within 15 days of signing. The seller guarantees it legally owns the equity and that it is free of disputes or claims. After the transfer, all rights and obligations related to the equity will pass to the buyer. The agreement is effective upon signing by both parties.

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EX-10.3 4 chji_ex103.htm EQUITY TRANSFER AGREEMENT chji_ex103.htm
EXHIBIT 10.3
 
Shaanxi East Mining Co.,Ltd Equity Transfer Agreement
 
Transferor: Shaanxi Changjiang Mining & New Energy Co.,Ltd
 
(Party A)
 
Transferee: Wang Sheng Li  (Party B)
 
This agreement is regarding the equity transfer issue of Shaanxi East Mining Co., Ltd, which is signed in the office on Dec 25th, 2013.
 
After friendly consultations conducted in accordance with the principles of equality and mutual benefit,the parties have reached the following agreements:
 
Article I: Party A agrees to transfer its 30% equity (The amount of capital contribution: RMB 2,700,000) of Shaanxi East Mining Co., Ltd at the price of RMB 2,700,000 to Party B , and Party B agrees to buy the above equity at this price.
 
Article II: Party B agrees that it will pay RMB 2,700,000 equity transfer funds to Party A in the form of monetary funds in 15 days after both parties signed the agreement.
 
Article III: Part A guarantees that its transferred equity to Party B is owned legally by itself and has complete disposition right. The equity has not been conducted pledge registration , has not been frozen by judiciary, and has no equity dispute. Otherwise, all liability arising therefrom, shall be undertaken by Party A.
 
Article IV: After the equity transfer, the rights and obligations of Party A in Shaanxi East Mining Co., Ltd should be transferred to Party B.
 
Article V: This agreement shall become effective after both parties signed and sealed.
 
Party A’s signature or seal Party B’s signature or seal
Chen Wei Dong
Wang Sheng Li
  Dec 25, 2013