Guanhao High-Tech Absorption Merger Progresses: Foshan Huaxin Packaging Applies for SZSE Delisting
Guangdong Guanhao High-Tech Co., Ltd. ('Guanhao High-Tech') will absorb and merge Foshan Huaxin Packaging Co., Ltd. ('the Company') through a share swap, together with supporting fund-raising in a related-party transaction. The transaction was approved by the Company at its Second Extraordinary General Meeting of 2020, held on December 14, 2020, and was cleared by the China Securities Regulatory Commission through the Reply on Approving Guangdong Guanhao High-Tech Co., Ltd.'s Issue of Shares to Absorb and Merge Foshan Huaxin Packaging Co., Ltd. and Raise Supporting Funds (CSRC Permit [2021] No. 1150).
Under the merger plan, Guanhao High-Tech will issue A-shares to all of the Company's swap shareholders and complete the absorption merger through the share swap. Once the merger is completed, the Company will be delisted and its legal personality cancelled, while Guanhao High-Tech will inherit and take over all of the Company's existing assets, liabilities, businesses, personnel, contracts, qualifications and all other rights and obligations.
In line with Article 14.8.1, Paragraph 1, Item (4) of the Shenzhen Stock Exchange Stock Listing Rules and other relevant business rules, the Company submitted its application for share delisting to the Shenzhen Stock Exchange ('SZSE') on July 5, 2021.
After the SZSE accepts the delisting application, the Company will publish the relevant announcement; after the SZSE approves the application, the Company will publish a delisting announcement. Investors are advised to monitor the Company's subsequent announcements and remain mindful of investment risks.
Source: China Packaging Network (pack.cn), original link: http://news.pack.cn/show-377711.html
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