AOXIN TIANLI GROUP, INC. (NASDAQ:ABAC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into A Material Definitive Agreement.
entered into an Equity Transfer Agreement with Zhong Bi Cheng
Holdings Co., Ltd. (“Zhong Bi Cheng”), a Hangzhou-based PRC
corporation, for the sale of the Companys 88% equity interest in
Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd.
(Hang-ao) for a total consideration of RMB 26 million
(approximately US$ 3.7 million), of which RMB 5 million has been
paid to the Company, with the remaining RMB 21 million due by
December 30, 2016.
release announcing that it had executed an equity transfer
agreement to sell the Company’s 88% equity interest in Hubei
Hang-ao Servo-valve Manufacturing Technology Co., Ltd.
hereto, shall not be deemed as filed for purposes of Section 18
of the Securities Exchange Act of 1934 (the Exchange Act), or
otherwise subject to the liability of such Section, nor shall it
be deemed incorporated by reference in any filing by us under the
Securities Act of 1933, as amended, or the Exchange Act,
regardless of any general incorporation language in such filing,
unless expressly incorporated by specific reference in such
filing.
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10.1
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Equity Transfer Agreement dated December 23, 2016 for the
sale of the Companys 88% equity interest inHubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. to Zhong Bi Cheng |
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99.1
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Press release issued December 27, 2016.
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About AOXIN TIANLI GROUP, INC. (NASDAQ:ABAC)
Aoxin Tianli Group, Inc. is a holding company. The Company is engaged in hog farming. The Company conducts its hog breeding operations through Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Fengze), a subsidiary of Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd., its wholly foreign owned enterprise, or WFOE, and its subsidiaries, Hubei Tianzhili Breeder Hog Co., Ltd. (Tianzhili), and Hubei Tianzhili (Hefeng) Breeder Hog Co., Ltd (Hefeng). The Company operates in two segments: Hog Farming and Retail. It utilizes various purebred hogs at its farms. The primary purebred varieties that it utilizes are the Yorkshire, Landrace and Duroc. It breeds both purebred and cross-bred hogs in order to attain desirable traits in the hogs produced in its farms. It is engaged in the sales of specialty processed black hog meat through the Internet. It sells its products under its Xiduhei trademark. AOXIN TIANLI GROUP, INC. (NASDAQ:ABAC) Recent Trading Information
AOXIN TIANLI GROUP, INC. (NASDAQ:ABAC) closed its last trading session down -0.02 at 3.69 with 2,331 shares trading hands.
