Equity Transfer Agreement between Shandong Ruixing Chemical Co., Ltd. and Mr. Xuchun Wang dated December 20, 2008
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Summary
Shandong Ruixing Chemical Co., Ltd. agrees to transfer all its equity in Shandong Xiangrui to Mr. Xuchun Wang for RMB 17,200,000. Mr. Wang must pay the full amount in cash within 15 days of the agreement taking effect, sending the payment to an account specified by Shandong Ruixing. After the transfer, Mr. Wang assumes all rights and obligations related to the equity in Shandong Xiangrui. The agreement is effective once both parties sign it.
EX-10.51 2 c24179exv10w51.htm EXHIBIT 10.51 Exhibit 10.51
Exhibit 10. 51
Exhibit 10. 51 Equity Transfer Agreement, between Shandong Ruixing Chemical Co., Ltd
and Mr. Xuchun Wang dated December 20, 2008
and Mr. Xuchun Wang dated December 20, 2008
Party A (Assignor): Shandong Ruixing Chemical Co., Ltd.
Party B (Assignee): Mr. Xuchun Wang
In accordance with the relevant provisions of laws, regulations of People’s Republic of China, Party A hereby agrees to transfer all the equity it held in Shandong Xiangrui to Party B after friendly consultation.
Article 1:
Party A agrees to transfer all the equity it held in Shandong Xiangrui to Party B according to the prescriptions of this agreement.
Party A agrees to transfer all the equity it held in Shandong Xiangrui to Party B according to the prescriptions of this agreement.
Article 2:
Party B agrees to purchase the equity held by Party A in Shandong Xiangrui.
Party B agrees to purchase the equity held by Party A in Shandong Xiangrui.
Article 3:
Both parties agree that the transfer price is RMB 17,200,000.
Both parties agree that the transfer price is RMB 17,200,000.
Article 4:
Party B shall pay the transfer price in cash within 15 days after the agreement takes effect.
Party B shall pay the transfer price in cash within 15 days after the agreement takes effect.
Article 5:
Party B shall remit the transfer price to the account appointed by Party A.
Party B shall remit the transfer price to the account appointed by Party A.
Article 6:
After this equity transfer, Party A’s rights and obligations in Shandong Xiangrui shall be assumed by Party B. Party B shall abide and enforce the article of association of Shandong Xiangrui, and enjoy the according rights and assume obligations.
After this equity transfer, Party A’s rights and obligations in Shandong Xiangrui shall be assumed by Party B. Party B shall abide and enforce the article of association of Shandong Xiangrui, and enjoy the according rights and assume obligations.
Article 7:
The agreement shall take effect after both parties executed.
The agreement shall take effect after both parties executed.
Article 8:
This contract shall be signed in three copies, which have the same force, both parties hold one respectively.
This contract shall be signed in three copies, which have the same force, both parties hold one respectively.
Party A: Shandong Ruixing Chemical Co., Ltd. (sealed)
Agent (signature):
Date: December 20, 2008
Agent (signature):
Date: December 20, 2008
Party B: Mr. Xuchun Wang
Agent (signature):
Date: December 20, 2008
Agent (signature):
Date: December 20, 2008
