Synposis of Agreement between Shanghai Sunplus Communication Technology Co., Ltd. And Huizhou Liyin Electronics Co., Ltd. – Zhangzhou JiaXun Communication Facility Co., Ltd.Synposis of Agreement • January 9th, 2009 • T Bay Holdings Inc • Metal mining
Sunplus is selling 100% interest of its wholly-owned subsidiary Zhangzhou JiaXun Communication Facility Co., Ltd. to Huizhou at a price of RMB5,000,000, with an initial payment of RMB500,000 to be paid within two days of the date of the agreement and the remaining balance of RMB4,500,000 to be paid within three months of the completion of the transaction. The transaction is expected to be completed by March 2009.
Synposis of Agreement between Shanghai Sunplus Communication Technology Co., Ltd. And Huizhou Liyin Electronics Co., Ltd. – Fujian QiaoXing Industry Co., Ltd.Synposis of Agreement • January 9th, 2009 • T Bay Holdings Inc • Metal mining
Sunplus is selling 80% interest of its subsidiary Fujian QiaoXing Industry Co., Ltd. to Huizhou at a price of RMB84,000,000, with an initial payment of RMB2,000,000 to be paid within two days of the date of the agreement and the remaining balance of RMB82,000,000 to be paid within three months of the completion of the transaction. The transaction is expected to be completed by March 2009.
