公告日期:2024-05-10
Stock Code: 000553 (200553) Stock abbreviation: ADAMA A (B) Announcement No. 2024-28
ADAMA Ltd.
Announcement on the Arbitration Matters about Fulfillment of
Performance Commitments Related to a Controlled Subsidiary
The Company and all members of its board of directors hereby confirm that all
information disclosed herein is true, accurate and complete with no false recording,
misleading statement or material omission.
Key Points:
1. Progress of the arbitration case
Shanghai International Economic and Trade Arbitration Commission (Shanghai
International Arbitration Centre) has accepted but not yet heard the case.
2. The standing of the listed company in the case: theApplicant
3. Value involved in the case
The Applicant requested the payment of price adjustment of RMB 64,535,827 yuan,
compensation for corresponding losses and all costs incurred for initiating the
arbitration, including fees for the attorney and the arbitration.
4. Impact on the profit and losses of the listed company
Since the arbitration has not yet been heard, the conclusion and its impact on the
Company's profits and losses cannot be reliably measured yet.
I. Basic information on Acceptance of theArbitration Matter
ADAMA Ltd. (hereinafter referred to as “the Company”, “ADAMA” or the
“Applicant” ) received on May 8th, 2024 the “Notice of Acceptance of Arbitration Case
in respect of Disputes relating to the Equity Purchase Agreement (6.11.2019), the
Supplementary Agreement to the Equity Purchase Agreement (26.2.2020) and the
Supplementary Agreement to the Equity Purchase Agreement (II) (28.10.2020)”[Shang
Guo Zhong (2024) No. 1292] issued by Shanghai International Arbitration Centre
(hereinafter referred to as the “Arbitration Commission”). The arbitration application
filed by the Company as the Applicant to the Arbitration Commission against Jiangsu
Huifeng Bio-agriculture Co., Ltd. (hereinafter referred to as the “Respondent” or
“Jiangsu Huifeng”) as the c……
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