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China Print Power Group Ltd Announces Supplemental Memorandum Of Understanding In Relation To Proposed Acquisition


Tuesday, 11 Jun 2013 05:37am EDT 

China Print Power Group Ltd announced that with reference to the earlier announcements in relation to the non-legally binding memorandum of understanding dated February 7, 2013 entered into between the Vendor and the Purchaser in respect of the Proposed Acquisition, the Vendor and Purchaser, on 11 June 2013, have entered into a supplemental memorandum of understanding to make, among others, the following amendments to the terms of the MOU: The exclusivity period of the MOU shall be extended to December 31, 2013; The earnest money of HKD5,000,000 payable within 45 days after the expiry of the original exclusivity period under the MOU shall be paid as follows: An earnest money in the amount of HKD2,000,000 shall be payable by the Purchaser to the Vendor upon signing of the Supplemental MOU; A further earnest money in the amount of HKD3,000,000 shall be payable by the Purchaser to the Vendor upon the entering into of the transaction documents for the Proposed Acquisition. Except as specifically amended by the Supplemental MOU, the provisions of the MOU shall remain in full force and effect in all respects. 

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