Equity Transfer Agreement between Xi’an Zhongxi Zhengliu Dianlu Transformer Factory and Zhejiang Lvneng Electric Co., Ltd. regarding Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd.

Contract Categories: Business Finance › Purchase Agreements
Summary

This agreement is between Xi’an Zhongxi Zhengliu Dianlu Transformer Factory (the transferor) and Zhejiang Lvneng Electric Co., Ltd. (the transferee). The transferor agrees to sell its 6.25% ownership stake, valued at RMB 2,000,000, in Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd. to the transferee. The transferee must pay the transfer fee within 30 days of signing. After the transfer, the transferee assumes all shareholder rights and responsibilities, while the transferor relinquishes them. The agreement is effective upon signing by both parties.

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EX-10.23 12 v121662_ex10-23.htm
Transfer Agreement of Offering the Capital
 
Transferor (Party A): Xi’an Zhongxi Zhengliu Dianlu Transformer Factory
Transferee (Party B): Zhejiang Lvneng Electric Co., Ltd.

After approval by the shareholders meeting of Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd. which held on July 10, 2007, consulted by Party A and Party B, regarding Party A will transfer it’s offering capital in Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd to Party B, they agreed to sign this agreement.

1. Party A will transfer it’s 6.25% shares which is RMB2,000,000 of offering capital Party A owned in Amorphous Alloy Zhongxi Transformer Co., Ltd. to Party B, Party B shall pay the transfer fees within 30 days upon the signing of this agreement.

2. After transferring of offering the capital, Party A has no entitled to enjoy the shareholders right, and has no responsibilities of the shareholders in Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd. Party B shall enjoy the shareholders right and shall take the shareholders responsibility in Amorphous Alloy Zhongxi Transformer Co., Ltd.

This agreement will be effective upon the signing of this agreement by Party A and Party B.

Transferor:
Xi’an Zhongxi Zhengliu Dianlu Transformer Factory

Transferee:
Zhejiang Lvneng Electric Co., Ltd.

The date of signing: July 11, 2007