The group added that it will exercise its rights to delegate its obligations under the SPA to a wholly-owned subsidiary to be incorporated. The wholly-owned subsidiary, China Rubber Investment Group Company Limited, will then be the entity undertaking the mandatory general offer (MGO) of Halcyon Agri.
The conditional share purchase agreement (SPA) entered into between Shanghai-listed China Hainan Rubber and Sinochem International (Overseas) Pte. Ltd, where the former will acquire 36% of Halcyon Agri’s shares, will proceed.
On Jan 4, China Hainan Rubber announced that the SPA has taken effect with all the effective conditions fulfilled.
