waxp2egames| China Evergrande (03333.HK): Concludes non-binding terms on potential shares for sale to continue trading

Gelonghui May 27 丨 China Evergrande (03333.HK) announcedwaxp2egames, on May 16, 2024, the company's joint and several liquidators (the "Liquidators")(for and on behalf of the company), Evergrande Health Industry Holdings Co., Ltd., Acelin Global Limited (each being a subsidiary of the company)(collectively the "potential sellers") entered into a non-binding term with a third party buyer (the "potential buyer"), pursuant to which the potential seller and the potential buyer may negotiate the purchase and sale of China Evergrande New Energy Automobile Group Co., Ltd.(a company listed on the Stock Exchange (stock code)waxp2egames: 708), the "New Energy Vehicle Company", together with its subsidiaries, collectively referred to as the "New Energy Vehicle Group") entered into a final sale and purchase agreement for shares.

As at the announcement date, New Energy Vehicle Company is an indirect subsidiary of the company and potential sellers hold a total of 6.5 billion yuan.waxp2egames,347waxp2egames, 948,000 shares of New Energy Vehicle Company (accounting for approximately 58.5% of the total issued shares of New Energy Vehicle Company as at the announcement date)(the "Potential Shares for Sale"). Subject to the conclusion of the sale and purchase agreement and subject to its terms and conditions, it is proposed that (i) 3,144,699,970 potential sale shares (accounting for approximately 29.0% of the total issued shares of New Energy Vehicle Company as at the announcement date) will be acquired immediately, and (ii) 3,203,248,030 potential sale shares (accounting for approximately 29.5% of the total issued shares of New Energy Vehicle Company as at the announcement date) will become the subject of an exercisable option by the potential buyer for a certain period after the date of the sale and purchase agreement.

Except for certain provisions such as confidentiality, transaction restrictions, regulatory laws and jurisdiction, the terms are not legally binding. The sale and purchase agreement is subject to further negotiation by both parties and has not yet been finalized, so the final terms of the sale and purchase agreement may differ from those set out in the terms book. Separate announcements will be issued in accordance with the Listing Rules in due course for the transactions contemplated under the relevant terms and conditions.

In addition, the company's shares continued to be suspended.