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Zongshen PEM Power Systems Inc. Announces Purchase Price Reduction for the Acquisition of the Motorcycle Business

  //house-home.news-articles.net/content/2010/06/0 .. -the-acquisition-of-the-motorcycle-business.html
  Published in House and Home on Wednesday, June 2nd 2010 at 6:31 GMT by Market Wire
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 (a) a cash payment of RMB 441,064,000 ($67,571,162), of which RMB 165,399,000 ($25,339,186) shall be paid to HKVAS on closing, with the remaining RMB 275,665,000 ($42,231,976) to be paid 18 months following closing, which shall be evidenced by a promissory note to be issued by the Company to HKVAS on closing; and (b) the issuance of 34,776,548 common shares to HKVAS on closing based on the agreed RMB:$ exchange rate of 6.3414:1 and a deemed issue price for the common shares of $1.00 per common share.