China Precious Metal Resources (HKG:1194) (CPMR) announced that, on 6 February 2012 (after trading hours), it entered into a supplemental agreement with the vendor, Eastgold Capital Limited, to revise the payment terms under the sale and purchase agreement. As at 6 February 2012, the outstanding balance of the cash consideration amounted to HK$220 million, which shall be settled by CPMR within two years upon signing of the sale and purchase agreement.

Pursuant to the supplemental agreement, CPMR and the vendor agreed to revise the payment terms such that the aforementioned outstanding balance of the cash consideration shall be settled by CPMR by the issue of additional consideration shares of CPMR at the issue price being equivalent to the average closing price of the shares for the last five consecutive trading days up to and including the date of the supplemental agreement to the vendor within one month upon signing of the supplemental agreement. 152 million additional consideration shares at the issue price of HK$1.448 per share will be issued to the vendor.

CPMR announced in December 2010 that it entered into the sale and purchase agreement for the acquisition of the entire issued share capital of target company Wah Heen Holdings from Eastgold Capital at a consideration of HK$1.18 billion, which would be settled as to HK$500 million in cash and HK$680 million with 328 million consideration shares.

Source:chinesestock.org