Tongda Shares announced on September 30 that it is terminating the share transfer and control change involving its controlling shareholder and largest shareholder. The company said it has received written notices from controlling shareholder Weifang Financial Holdings and largest shareholder Tongda Group. Because conditions related to the share transfer have changed, and the parties were unable to reach agreement after multiple rounds of negotiation, there is no longer any possibility of proceeding with the proposed share transfer agreement and the corresponding change of control. After careful study and full communication and consultation, the parties have jointly decided to terminate the share transfer and control change.
Shandong Tongda Island New Materials Co LtdTermination of the share transfer and control change involving its controlling and largest shareholders removes a planned ownership/control transaction.
