Octopussy Flashcards
1
Q
What are the shares to be acquired which will eventually give AXA 50% in TP?
A
(i) 216.22 million Issue Shares at RMB 9.25 per share, issued by TP for RMB 2 billion; and
(ii) 206.89 million Sale Shares at RMB 9.25 per share, transferred by the Selling Shareholders.
2
Q
How does the term sheet describe the adjustment mechanism of the purchase price?
A
The price per share of RMB 9.25 is based on a certain net asset value determined as at 30 June 2012 (which in turn is based on certain assumptions using a reference date of 30 June 2012). The difference in the net asset value as at 30 June 2012 and closing, shall be adjusted for in the purchaser price for the Sale Shares (but not for the Issue Shares which shall remain at RMB 2 billion).
