XDC and Wu had, on April 17, entered into a sale and purchase agreement (SPA) for the sale of 100,000 ordinary shares in the JVCo to Wu for a total consideration of $4 million, or $40 per share.
X Diamond Capital (XDC), the joint venture (JV) partner of Metech International, has disposed of its shares in the joint venture company (JVCo), Asian Eco Technology, to Wu Yongqiang.
Wu is a controlling shareholder of Metech International with 23.76 million shares in the company, or a 15.68% stake of the company’s total voting shares, making this an interested person transaction (IPT) under the Catalist rules.
