安道麦B:关于签署股权购买协议之补充协议的公告(英文版)

Stock Code: 000553 (200553) Stock Abbreviation: ADAMA A(B) Announcement No. 2020-75



证券代码
                                     ADAMA Ltd.
           Announcement on the Signing of a Supplemental
            Agreement to the Equity Purchase Agreement

     The Company and all members of the Company’s Board of Directors confirm that all
     information disclosed herein is true, accurate and complete, with no false or
     misleading statement or material omission.


     I. Overview of the Transaction

     On November 5, 2019, the 18th Meeting of the 8th Session of the Board of Directors of
     ADAMA Ltd. (the “Company”) approved the Acquisition of a 50% Equity Stake in
     Shanghai Dibai Plant Protection Co., Ltd. (“Dibai”), the domestic distribution arm of
     Jiangsu Huifeng Agrochemical Co., Ltd. (“Huifeng”). On November 6, 2019, the
     Company executed an Equity Purchase Agreement (“50% Dibai Main EPA”) with
     Huifeng, according to which subsequent and subject to the full fulfillment of the
     conditions precedent under the 50% Dibai Main EPA, the Company intends to acquire
     the 50% equity interests in Dibai held by Huifeng (“50% Dibai Transaction”).
     Following execution of the 50% Dibai Main EPA, the Company executed two
     supplemental agreements on February 26, 2020 and October 28, 2020 respectively
     (together with the 50% Dibai Main EPA, the “50% Dibai EPA”).

     On October 28, 2020, the 27th Meeting of the 8th Session of the Board of Directors of
     the Company approved the Acquisition of 51% Equity Stake in Jiangsu Kelinong
     Agrochemical Co., Ltd., and a further 1% Equity Stake in Dibai. On the same day, the
     Company and Huifeng entered into an Equity Purchase Agreement (the “Extended
     EPA”) according to which the Company intends to purchase 51% equity interests of
     Jiangsu Kelinong Agrochemical Co., Ltd. (as of the date of this announcement,
     Jiangsu Kelinong Agrochemical Co., Ltd. has already amended its name to Adama
     Huifeng (Jiangsu) Co., Ltd. (the “NewCo.”)), subsequent and subject to the full

                                                1
fulfillment of the conditions precedent under the Extended EPA (the “NewCo.
Transaction”); further, the Extended EPA also provides that the Company intends to
acquire an additional 1% equity interest in Dibai owned by Huifeng (the “1% Dibai
Transaction”) so that the Company will own and hold 51% equity interests in Dibai
after completion of the 50% Dibai Transaction and the 1% Dibai Transaction.

For details, please see the Announcement on the Resolutions of the 18th meeting of
the 8th Session of the Board (Announcement No. 2019-53), the Announcement on the
Acquisition of 50% of the Equity Interests in Shanghai Dibai Plant Protection Co.,
Ltd. (Announcement No. 2019-54), the Announcement on Signing the Supplemental
Agreement to the Equity Purchase Agreement (Announcement No. 2020-9), the
Announcement on the Resolutions of the 27th meeting of the 8th Session of the Board
(Announcement No. 2020-56), the Announcement on the Acquisition of 51% Equity
Interests in Jiangsu Kelinong Agrochemical Co., Ltd. and 1% Equity Interests in
Shanghai Dibai Plant Protection Co., Ltd. (Announcement No. 2020-59) and the
Announcement on Signing the Supplemental Agreement II to the Equity Purchase
Agreement (Announcement No. 2020-60) which were disclosed by the Company on
the website www.cninfo.com.cn separately on November 7, 2019, February 27, 2020
and October 29, 2020.

On December 28, 2020, the Company and Huifeng executed a Supplemental
Agreement to the Equity Purchase Agreement Dated October 28, 2020, (the
“Supplemental Agreement”) according to which Huifeng and the Company intend to
close the 1% Dibai Transaction along with the 50% Dibai Transaction simultaneously
on the same date (the “51% Dibai Transaction”). The Supplemental Agreement also
refers to certain clarifications to the Extended EPA due to such arrangement.

II.Key Terms of the Supplemental Agreement

The Company and Huifeng clarify that as the closing of the 1% Dibai Transaction and
50% Dibai Transaction will be completed simultaneously, the “Closing” and/or the
“Closing Date” applies to (1) the definition of “Closing Net Debt” for calculation of
the purchase price of 1% Transaction, (2) the definition of transition period and the
provisions in relation to attribution arrangement on benefits and losses during the
transition period, and (3) the provisions related to purchase price adjustment, payment


                                            2
arrangement and the closing account under the Extended EPA shall be clarified and
shall all refer to the closing and closing date under the Supplemental Agreement,
which is defined as the closing and/or closing date of the Dibai 51% Transaction,
when such definitions, provisions or terms apply to the 1% Dibai Transaction or 1%
equity interest of Dibai.

III. Impact of the Supplemental Agreement on the Company

The Supplemental Agreement reflects the agreed outcome of negotiations between the
Company and Huifeng. It will have no adverse impact on the performance and
business operations of the Company. It will also not impact the future development
strategy and business plan of the Company. The interests of the shareholders will not
be harmed.

IV.Filling Documents

The Supplemental Agreement to the Equity Purchase Agreement Dated October 28,
2020.




It is hereby announced.




                                                 Board of Directors of ADAMA Ltd.

                                                                December 29, 2020




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