安道麦B:关于收购上海迪拜植保有限公司51%股权交割完成的公告(英文版)

Stock Code: 000553 (200553) Stock Abbreviation: ADAMA A(B) Announcement No. 2021-1




                                      ADAMA Ltd.

       Announcement on the Closing of the Acquisition of 51% Equity
           Interests in Shanghai Dibai Plant Protection Co., Ltd.


    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 Main EPA”) according to which 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. Following the execution


                                              1
of the Extended Main EPA, the Company executed a supplemental agreements on
December 28, 2020 (together with the Extended Main EPA, the “Extended EPA”)
providing that the Company and Huifeng intends to close the 50% Dibai Transaction
and 1% Dibai Transaction simultaneously (the “51% Dibai Transaction”).

    For details, please see the Announcement on the Resolutions of the 18 th 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), the
Announcement on Signing the Supplemental Agreement II to the Equity Purchase
Agreement (announcement No. 2020-60) and the Announcement on the Signing of a
Supplemental Agreement to the Equity Purchase Agreement (announcement No,
2020-75) which were disclosed by the Company on the website www.cninfo.com.cn
separately on November 7, 2019, February 27, 2020, October 29, 2020 and December
29, 2020.

II.Progress of the 51% Dibai Transaction

     As of December 31, 2020, all conditions precedent in the 50% Dibai EPA and
Extended EPA regarding the 51% Dibai Transaction have all been satisfied or waived.
The closing of the 51% Dibai Transaction has been completed accordingly on that
date. The Company has already obtained 51% equity interests in Dibai and has
completed corresponding procedures with competent administration for market
regulation on the 51% Dibai Transaction.

III. Impact of the Closing on the Company


    Upon and immediately after completion of the 51% Dibai Transaction, the
Company shall own and hold 51% equity interests in Dibai and Dibai shall become a
controlling subsidiary of the Company. Based on the Accounting Standards for
Business Enterprises, Dibai will be included in the Company’s consolidated financial

                                           2
statements.

    It is hereby announced.




                                  Board of Directors of ADAMA Ltd.

                                                  January 5, 2021




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