SAN LOTUS HOLDING INC. (OTCMKTS:SLOT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into A Material Definitive Agreement.
On December 31, 2016, our wholly-owned subsidiary, Green Forest
Management Consulting Inc., a Taiwan (R.O.C.) corporation, entered
into an agreement to purchase stock creditors right (the Agreement
) with Wu, TingKuang (the Seller), the sole shareholder of Da Ren
International Insurance Brokers Co.,Ltd, to purchase the
outstanding 300,000 shares of Da Ren International Insurance
Brokers Co.,Ltd (the DRI Shares) in exchange for NTD$10,500,000,
and the closing of transaction under Agreement shall be held on
April 1, 2017.
The table below details the proportion of ownership of the Seller
had in Da Ren International Insurance Brokers Co.,Ltd.
The following table lists each of our officers and directors and
details their relationship to Da Ren International Insurance
Name of natural person affiliate
San Lotus Holding Inc.
Da Ren International Insurance Brokers
Lin, Mu Chen
A description of the specific terms and conditions of the
agreements related to this transaction are set forth in the
Agreement, attached hereto as Exhibit 10.1.
Item 2.01 Completion of Acquisition or Disposition of
The information provided in Item 1.01 of this Current Report on
Form 8-K related to the aforementioned acquisition is
incorporated by reference into this Item 2.01.
On December 31, 2016, through entry into the Agreement with Wu,
TingKuang, our wholly-owned subsidiary, Green Forest Management
Consulting Inc., a Taiwan (R.O.C.) corporation, will acquire all of
the issued and outstanding common stock of Da Ren International
Insurance Brokers Co.,Ltd, a Taiwan (R.O.C.) corporation, in
exchange for NTD$10,500,000 on April 1, 2017.
Item 8.01 Other Events.
San Lotus Holding Inc. decides to dissolve its
subsidiary, XO EXPERIENCE INC.
We are the sole stockholder of XO EXPERIENCE INC., and on December
31, 2016, we decided to dissolve XO EXPERIENCE INC. to Section 1900
(a) of California Corporations Code.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are being filed herewith:
Exhibit No. and Description
10.1 Agreement to Purchase Stock Creditors right, dated December
31, 2016, between the seller and the purchaser named therein.
About SAN LOTUS HOLDING INC. (OTCMKTS:SLOT)
San Lotus Holding Inc. is a development-stage company. The Company is focused primarily on the development and marketing of its business model and Website. It plans to market global travel products to the retiring baby boomer generation in the Asian markets. Its travel services entity in Taiwan will provide both outbound travel services for customers based in Taiwan and inbound travel services for customers based abroad and coming to Taiwan. It will market its products and services to the travel population in Taiwan and abroad through its Website, www.sanlotusholding.com. The Company intends to use the cars, with hired drivers, to provide car service for its customers from the airport to their hotels or other desired destinations upon their arrival in California. Its products and services offered include transportation, such as airlines, buses, car rentals, railways and cruises; accommodation, including hotels, resorts and cruises, and packaged holidays and local tours. SAN LOTUS HOLDING INC. (OTCMKTS:SLOT) Recent Trading Information
SAN LOTUS HOLDING INC. (OTCMKTS:SLOT) closed its last trading session 00.00 at 5.00 with shares trading hands.