Polaris solar PV net news: hareon with combined photovoltaic and independent portfolio series fund global high growth industries Corporation (SPC), the tripartite agreement reached, combined PV will its US $ 90 million on hareon assignment to the new investor. If the transaction goes well, combined PV will withdraw, hareon will survive and continue to list on the Shanghai Stock Exchange.
Combined PV all rights, obligations and responsibilities, including cooperation agreements should be to transfer all amounts claimed in hareon to SPC. The total amount of HK $ 500 million will be paid in three batches, the period was 150 million, HK $ 100 million and 250 million. Agreement will take effect only after the sums paid.
Hareon must pay combined with photovoltaic all arbitration and legal costs of about 5.6 million Yuan. The money received, and the SPC has made the second payment, combined with PV would be withdrawn on hareon lawsuits, and terminate the transaction since last May.
Hareon solar listed on the Shanghai Stock Exchange starting in 2011. Starting in 2013, has two years of net losses record, if a third loss, will be delisted.
Original title: hareon plight is expected to address the $ 90 million lawsuit