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Document Preview Call Option Agreement |
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Title: |
Call Option Agreement |
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Entities: |
Brilliance China Automotive Holdings Ltd.; Huachen Automotive Group Holdings Company Limited; Hong Xing |
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Date: |
2002 |
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Size: |
Preview shows 5KB of 22KB total |
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Price: |
$39 |
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ID: |
#153930 |
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[NAME IN CHINESE]
(HUACHEN AUTOMOTIVE GROUP HOLDINGS COMPANY LIMITED)
AND
HONG XING
-----------------------------------------
CALL OPTION AGREEMENT
-------------------------------------------
BAKER &
14th Floor Hutchison House
10 Harcourt Road
Hong Kong
LKL/EC/DK/DK01938.FIN2(HONG)(Clean).DOC
{PAGE}
CONTENTS
{TABLE}
{CAPTION}
CLAUSE HEADING PAGE
------ ------- ----
{C} {S} {C}
1. Definitions and Interpretation..............................................................1
2. Call Option.................................................................................3
3. Further Obligations of the Parties..........................................................4
4. Restriction on Announcements................................................................6
5. General.....................................................................................6
6. Governing Law and Submission to Jurisdiction................................................7
Execution ............................................................................................8
{/TABLE}
{PAGE}
DATE:
PARTIES:
(1) [NAME IN CHINESE] (HUACHEN AUTOMOTIVE GROUP HOLDINGS COMPANY LIMITED),
a wholly state-owned limited liability company established in the
People's Republic of China whose legal address is at 26 Kunshandong
Road, Huanggu District, Shenyang City, Liaoning Province 110032, PRC (
"HUACHEN"); and
(2) HONG XING of Suites 2303 - 2306, 23rd Floor, Great Eagle Centre, 23
Harbour Road, Wanchai, Hong Kong ("MR. HONG").
RECITALS:
(A) Pursuant to a sale and purchase agreement entered into between Huachen
and the Foundation on the date hereof, the Foundation agreed to sell,
and Huachen agreed to purchase, a total of 1,446,121,500 Shares
beneficially owned by the Foundation, representing approximately 39.45%
of the total issued share capital of the Company and the Foundation's
entire interest in the Company, and Huachen has agreed to make the
Offer, in each case subject to the terms and conditions set out
therein.
(B) On the date hereof, the Offerors agreed to form a syndicate for the
purpose of making the Offer.
(C) Huachen agrees to grant to Mr. Hong a call option in respect of
84,464,788 Shares upon the terms and conditions hereinafter contained.
TERMS AGREED:
1. DEFINITIONS AND INTERPRETATION
1.01 In this Deed where the context so admits the following words and
expressions shall have the following meanings:
"ADS" means an American depositary share representing ownership of 100
Shares in the issued share capital of the Company;
"COMPANY" means Brilliance China Automotive Holdings Limited;
"EVENT OF DEFAULT" means failure on the part of Mr. Hong to pay the
Balance in full on or before the relevant due date pursuant to Clause
3.01(a);
"FOUNDATION" means Chinese Financial Education Development Foundation,
a non-governmental non-profit making organisation established in the
PRC;
"HK$" means Hong Kong dollars, the lawful currency for the time being
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