Entry into Material Definitive AgreementsInto Material Definitive Agreements • April 29th, 2010 • China Technology Development Group Corp • Services-prepackaged software
On April 28, 2010, China Technology Development Group Corporation (Nasdaq: CTDC) (the “Company”) entered into a cooperation framework agreement (the “Cooperation Agreement”) with Xintang Media Technology (Beijing) Limited (the “Xintang”), its stockholders (the “Stockholders”) and associated companies including Top Billion Holdings Ltd. (the “Top Billion”), Wealth Secure Ltd. (the “Wealth Secure”) and Profit Chance (Hong Kong) Ltd. (the “Profit Chance”), pursuant to which the Company wishes to acquire the entire equity interest in Xintang indirectly in consideration of (i) US$5 million in cash as advance payment (the “Cash Advance”); (ii) certain amount of shares of the Company’s common stock at a price US$3.01 per share (the “Consideration Shares”); and (iii) certain amount of warrants to purchase the Company’s common stock at an exercise price US$3.5 per share (the “Consideration Warrants”). The Cash Advance will be used to operate the Xinhua Multimedia project. The amount of the Cons
