Attached files
file | filename |
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EX-99.1 - China XD Plastics Co Ltd | ex99-1.htm |
8-K - China XD Plastics Co Ltd | form8-k.htm |
Exhibit 99.2
May 11, 2021
Via Email
The Special Committee of the Board of Directors
China XD Plastics Company Limited
No.9 Dalian North Road, Haping Road Centralized Industrial Park
Harbin Development Zone,
Heilongjiang Province
People’s Republic of China
Email: hljxd@chinaxd.net
Re: Notice of Termination
Reference is hereby made to that certain Agreement and Plan of Merger dated as of June 15, 2020 by and among China XD Plastics Company Limited, a Nevada corporation (“Company”), Faith Dawn Limited, an exempted company with limited liability incorporated under the Laws of the Cayman Islands (“Parent”), and Faith Horizon Inc., a Nevada corporation and a wholly owned subsidiary of Parent (“Merger Sub”) (as amended, the “Merger Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Merger Agreement.
Reference is further made to that certain Notice of Termination dated May 8, 2021 issued by the Company to us (the “Notice of Termination”).
We write in response to the Notice of Termination. While we also regret that the transactions contemplated under the Merger Agreement cannot be completed as previously contemplated, we disagree with the allegations made in the Notice of Termination.
Nonetheless, in the interest of good faith and cooperation, Faith Dawn Limited acknowledges that the Company can terminate the Merger Agreement under Section 9.1(c)(iii) of the Merger Agreement and thus agrees to pay the Parent Termination Fee pursuant to Section 9.3(b) of the Merger Agreement under that basis.
Sincerely, | ||
FAITH DAWN LIMITED | ||
By: | /s/ Jie Han | |
Name: | Jie Han | |
Title: | Director |
cc: | Hogan Lovells | |
11th Floor, One Pacific Place, 88 Queensway | ||
Hong Kong Special Administrative Region | ||
Attention: Stephanie Tang, Esq. | ||
Fax: +852 2219 0222 | ||
Email: Stephanie.Tang@hoganlovells.com |