Zhixun Finance App: SWSI International Securities (00812) announced that according to the SWSI International Investment Institute, on May 31, 2024 (after trading hours), SWSI International Investment has signed the sixth supplementary memorandum of understanding with potential individual buyers and potential buyers. According to the terms of the sixth supplementary memorandum of understanding:
1. The contracting parties agree to further extend the expiration date from May 31, 2024 to June 30, 2024 (or an earlier date concerning negotiating conditions unilaterally established by SWSI International Investment). During the period from May 31, 2024 to June 30, 2024 (or an earlier date concerning negotiating conditions unilaterally established by SWSI International Investment), the contracting parties will continue to negotiate non-exclusively about potential transactions. SWSI International Investment will continue to have the right to discuss and negotiate with any third party other than potential buyers and potential individual buyers on potential transactions.
2. The contracting parties know and confirm that pursuant to the terms of the third supplementary memorandum of understanding, the original earnest money sum of HKD 20,000,000 can still be confiscated by SWSI International Investment, provided that SWSI International Investment and potential individual buyers have not entered into a formal sales and purchase agreement concerning potential transactions by the expiration of the exclusive period on January 30, 2024. SWSI International Investment may, at its own discretion, decide to continue to postpone the exercise of its right to confiscate the original earnest money until (1) June 30, 2024, i.e. the extended expiration date; or (2) the date on which SWSI International Investment enters into an exclusive or formal sales and purchase agreement with potential buyers and potential individual buyers other than any third party concerned with potential transactions, whichever is earlier.
3. The contracting parties further acknowledge and confirm that pursuant to the terms of the fifth supplementary memorandum of understanding, the fourth earnest money sum shall not be refunded under any circumstances from the date of the fifth supplementary memorandum of understanding and shall be retained by SWSI International Investment to compensate the expenses incurred by SWSI International Investment in negotiating potential transactions.
4. In addition, if (1) a formal sales and purchase agreement concerning potential transactions is not concluded before the expiration of the extended expiration date on June 30, 2024; or (2) SWSI International Investment and potential buyers and potential individual buyers other than any third party concerned with potential transactions enter into an exclusive or formal sales and purchase agreement concerning potential transactions on a date (whichever is earlier), (1) the original earnest money sum of HKD 20 million shall be immediately confiscated; and (2) the fourth earnest money sum shall continue to be retained by SWSI International Investment.
5. The contracting parties confirm that if SWSI International Investment enters into a formal sales and purchase agreement concerning potential transactions with potential individual buyers before the extended expiration date, SWSI International Investment has the right to accept earnest money as part of the consideration paid by potential individual buyers to SWSI International Investment for the sales and purchase transactions.
6. The contracting parties know and confirm that SWSI International Investment will continue to have the right to confiscate earnest money regardless of whether a formal sales and purchase agreement concerning potential transactions is entered into (whether before or after the extended expiration date), and that unless there are conflicting circumstances, any subsequent written agreement entered into between SWSI International Investment and potential individual buyers shall not affect the rights and interests enjoyed by SWSI International Investment pursuant to the sixth supplementary memorandum of understanding.
7. The contracting parties acknowledge and confirm that the right of SWSI International Investment to confiscate original earnest money or earnest money, if applicable, will not be affected in any case, regardless of whether (1) the contracting parties continue to negotiate on potential transactions on a non-exclusive basis or (2) SWSI International Investment and potential buyers and potential individual buyers other than any third party concerned with potential transactions enter into a formal sales and purchase agreement concerning potential transactions.