The shares were purchased via a conditional share purchase agreement (SPA) entered into by China Hainan Rubber with Sinochem International (Overseas) Pte. Ltd.
China Hainan Rubber, a state-owned holding company in China listed on the Shanghai Stock Exchange, has made a cash offer to acquire 574.2 million shares in the capital of Mainboard-listed Halcyon Agri Corporation.
The number of shares represents 36% of the total issued and paid-up share capital of Halcyon Agri.
