Attached files
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| EX-10.1 - Deyu Agriculture Corp. | v206143_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
DATE OF
REPORT (Date of Earliest Event Reported): December 20,
2010
DEYU AGRICULTURE
CORP.
(Exact
name of registrant as specified in Charter)
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Nevada
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333-160476
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80-0329825
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(State
or other jurisdiction
of
incorporation
or
organization)
|
(Commission
File No.)
|
(IRS
Employee
Identification
No.)
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Room
808, Tower A,
Century
Centre, 8 North Star Road
Beijing, People’s Republic
of China
(Address
of Principal Executive Offices)
(212)
465-2647
86-13828824414
(Issuer
Telephone number)
N/A
(Former
Name or Former Address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01 Entry Into A Material Definitive Agreement.
On December 20, 2010 (the “Execution
Date”), Detian Yu Biotechnology (Beijing) Co., Ltd. (“Detian Yu”), a
wholly-owned subsidiary of Deyu Agriculture Corp., a Nevada corporation (the
“Registrant”)
executed a Village Collective Farmland Transfer Agreement (the “Agreement”) with
Shanxi Jinbei Plant Technology Development Co., Ltd. (“Jinbei”) pursuant to
which Detian Yu shall acquire from Jinbei a collection of land use rights
(the “Land Use
Rights”) to approximately 52,338 mu (which is the equivalent to
approximately 8,622 acres) of farmland located in Jinzhong City, Shanxi Province
(the “Farmland”). The
Land Use Rights are evidenced by 8 separate certificates, 6 of which constitute
52,094 mu and have terms ranging from 40 to 47 years, and 2 of which constitute
244 mu and have terms ranging from 14 to 16 years. All of the
Farmland is limited to agricultural farming purposes. On the
Execution Date, Detian Yu paid an aggregate RMB27,221,000 (approximately
$4,084,600) to Jinbei in consideration for the Land Use Rights and within 5 days
after the Execution Date, Jinbei shall transfer the land to Detian Yu for
possession. The transfer of the Land Use Rights shall be deemed
complete upon the receipt by Jinbei of notice of acceptance of the required
transfer documents by the relevant land use regulatory agency, which is expected
to be within ninety (90) days after the Execution Date as disclosed in the
Agreement. The forgoing description of the Agreement does not purport
to be complete and is qualified in its entirety by reference to such document,
which is attached as Exhibit 10.1 to
this Current Report on Form 8-K and incorporated herein by
reference.
Item
9.01 Financial Statements and Exhibits.
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(a)
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Not
applicable.
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(b)
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Not
applicable.
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(c)
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Not
applicable.
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(d)
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Exhibit
No. Description:
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EXHIBIT NO.
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DESCRIPTION
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LOCATION
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10.1
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Village
Collective Farmland Transfer Agreement, dated December 20, 2010, by
and between Detian Yu Biotechnology (Beijing) Co., Ltd. and Shanxi Jinbei
Plant Technology Development Co., Ltd. (English Translated and Mandarin
Versions)
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Provided
herewith
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SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this Report on
Form 8-K to be signed on its behalf by the undersigned hereunto duly
authorized.
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DEYU
AGRICULTURE CORP.
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Date: December
21, 2010
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By:
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/s/
David Lethem
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David
Lethem
Chief
Financial Officer
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