Feile Audio received 1.416 million euros to compensate for the acquisition of Havelds subsidiary's contribution revenue of 48.4% in the first half of the year
Feile Audio (600651) announced the announcement of the “Supplemental Agreement†for the “Havells Malta Share Purchase Agreement†with companies such as Havells Group.
The parties agree that based on the internal adjustment of the extraordinary items and inventory impairment losses of HML's 2015 after-tax net profit, as a comprehensive and final settlement of related matters, the parties agree that HML's 2015 net profit after tax is 9,941,000. Euro, and HML agreed to pay the company 141,600 euros based on this figure (ie 80% of the difference between the company's 2015 after-tax net profit and 10,000,000 euros multiplied by three).
The parties agree that the above-mentioned €141,600 is the adjustment determined in accordance with the terms of the Havells Malta Share Purchase Agreement and that the amount is binding on all parties to the transaction. The company may not make any further claims or claims against Havells Holdings or Havells Group under the price adjustment mechanism of the HML Equity Purchase Agreement. The adjustment shall be deducted from the custody money and released to the company's designated account no later than September 15, 2016.
On December 10, 2015, Feile Sound signed a contract with Havells India Limited (hereinafter referred to as “Havells Groupâ€) and Havells Holdings Limited (hereinafter referred to as “Havells Holdingsâ€) to purchase Havells Malta Limited (hereinafter referred to as “HMLâ€, a subsidiary of Havells Group, The Havells Malta Share Purchase Agreement, now renamed as 80% of Feilo Malta Limited, was completed on January 15, 2016.
In addition to the other obligations under the Exim Equity Purchase Agreement, the Havells Malta Share Purchase Agreement and the HML Shareholders Agreement, the company will perform purchases in accordance with and subject to the terms of the Exim Equity Purchase Agreement and the HML Shareholders Agreement. Exim's remaining 20% ​​equity and the remaining 20% ​​equity of HML (provided that Havells Holdings exercises the right to exercise the option to sell).
According to the data of the semi-annual report of Feile Audio, Havells Malta, which was acquired in the first half of the year, achieved revenue of 1.396 billion yuan and 435 million yuan in the first half of the year. The net profit was RMB 178.234 million and RMB 4,622,800, respectively. The total contribution revenue was approximately RMB 1.465 billion, and the net profit contributed was RMB 17.957 million, accounting for 48.4% of the revenue and net profit of the first half of the year. 28.13%.
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