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7Road Holdings Limited 第七大道控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 797)
EXTENSION OF LONG STOP DATE
AND
FURTHER DELAY IN THE DESPATCH OF CIRCULAR
Reference is made to the announcements of 7Road Holdings Limited (the "Company") dated 9 November 2020, 11 November 2020, 30 November 2020 and 30 December 2020 (collectively, the "Announcements") in relation to, among others, the major transaction in relation to the acquisition of the entire issued share capital of the Target Company involving the issue of Consideration Shares and continuing connected transactions in relation to the entry of the VIE Agreements. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.
EXTENSION OF LONG STOP DATE
As more time is required for the fulfilment of the conditions precedent set out in the Sale and Purchase Agreement, the Company and the Vendors have entered into a supplemental agreement (the "Supplemental Agreement") on 28 February 2021. Pursuant to the Supplemental Agreement, the Company and the Vendors agreed to further extend the Long Stop Date to 31 March 2021 or such other date as the Company and the Vendors may otherwise agree in writing.
Save as disclosed above, all other terms of the Sale and Purchase Agreement shall remain unchanged and in full force and effect.
FURTHER DELAY IN DESPATCH OF CIRCULAR
As disclosed in the announcement of the Company dated 30 December 2020, it was expected that a circular (the "Circular") containing, among others, further information in relation to the Acquisition and other information as required to be disclosed under the Listing Rules and a notice of the EGM will be despatched to the Shareholders on or before Friday, 26 February 2021.
The Company is still in the course of preparing and finalising certain information of the Target Group and the OPCO Group to be included in the Circular. It is currently expected that the Circular will be despatched to the Shareholders on or before Wednesday, 31 March 2021.
By order of the Board
7Road Holdings Limited
Meng Shuqi
Chairman
Wuxi, the PRC, 1 March 2021
As at the date of this announcement, the executive Directors are Mr. Meng Shuqi, Mr. Li Zhengquan and Mr. Yang Cheng; and the independent non-executive Directors are Mr. Xue Jun, Ms. Li Yiqing and Ms. Wang Ying.