Brief: Jiuzi Holdings Enters Into A Non-Binding LOI For Acquisition Of Shenzhen Maigesong

Jiuzi Holdings

03/04/2024 16:04

April 3 (Reuters) - Jiuzi Holdings Inc  JZXN.O :
    * JIUZI HOLDINGS ENTERS INTO A NON-BINDING LOI FOR THE
ACQUISITION
OF SHENZHEN MAIGESONG
    * JIUZI HOLDINGS INC: SHALL INVEST RMB 30 MILLION TO FUND
CONSTRUCTION OF SHENZHEN MAIGESONG'S RECHARGEABLE LITHIUM
BATTERY PRODUCTION LINE
    * JIUZI HOLDINGS: SHALL INVEST RMB 30 MILLION TO FUND
CONSTRUCTION
OF SHENZHEN MAIGESONG'S RECHARGEABLE LITHIUM BATTERY PRODUCTION
LINE
    * JIUZI HOLDINGS INC - UNDER LOI, SHENZHEN JIUZI TO ACQUIRE
100%
OF EQUITY OF SHENZHEN MAIGESONG FOR CERTAIN RESTRICTED SHARE
COMPENSATION OF CO
    * JIUZI HOLDINGS- LOI INCLUDES EARNOUT PROVISION WHICH
PROVIDES
THAT SHENZHEN MAIGESONG SHALL ACHIEVE REVENUE TARGET OF RMB
119.81 MILLION BY END OF DEC 2025
    * JIUZI HOLDINGS-LOI INCLUDES EARNOUT PROVISION WHICH
PROVIDES
THAT SHENZHEN MAIGESONG SHALL ACHIEVE REVENUE TARGET OF RMB
504.22 MILLION BY END OF DEC 2026

Source text for Eikon:  ID:nPnbkL4KTa 
Further company coverage:  JZXN.O