About Baoli Holdings (Singapore) Pte Ltd
Jiangsu Baoli Asphalt Co., Ltd.
Notification on signature of Memorandum of Understanding between Baoli Holdings (Singapore) Pte Ltd and Russian Federal Highway Agency
The company and the full members of the board of directors warrant the truthfulness, accuracy, completeness of the information disclosed herein, and that there is no misrepresentation, misleading statements or material omission contained in this announcement.
Special risk prompt statement:
1. The "Memorandum" is only an intention document, not an international treaty, in addition, it does not create any legally binding rights and obligations .
2. At any time, but no later than 30 calendar days prior to the date on which the "Memorandum" is expected to terminate, either party may notify the other party to terminate the "Memorandum."
A wholly owned subsidiary of Jiangsu Baoli Asphalt Co., Ltd. (hereinafter referred to as the "Company"), Baoli Holdings (Singapore) Pte Ltd (hereinafter referred to as "Baoli") plans to enter the Russian market, and directly participate the Central, Northwest and the Far East Federal District PPP road infrastructure construction projects in Russian Federation. Recently, according to the regulations of bilateral laws, international regulations and under the guidance of the principle of equality, mutual benefit and common interests, the Baoli signed the Memorandum of Understanding between Baoli Holdings (Singapore) Pte Ltd and Russian Federal Highway Agency (hereinafter referred to as "memorandum") with the Russian Federal Highway Administration (hereinafter referred to as "highway department") .
Ⅰ. The main contents of the memorandum
1. The Highway Department Agency invites Baoli to participate in the relevant PPP road infrastructure investment projects, and welcomes and supports investment in road construction.
2. The Highway Agency will provide contents of related projects to Baoli in writing.
3. Baoli ready to participate in the tendering & bidding involved in the letter of intent, Baoli will finance 2 billion dollar to participate in the road construction project of Russian Federation .
4. The two parties agree to discuss on issues including financing method and PPP project investment risk, etc..
Ⅱ. Others
1. The memorandum will be adopted since the date of the signature. In addition, regarding the contradictions that may arise from the memorandum, the both parties shall settle by way of working conference and negotiation.
2. The memorandum does not affect the rights and obligations in other agreements, contracts and protocols signed by both parties.
3. The memorandum is prepared in Russian and English, each party separately holds one. If contradictions occur between the English version and Russian version, the Russian version shall prevail.
4. The Company will timely perform disclosure obligation regarding progress in implementation of the memorandum, we hope that the investors can pay attention to investment risks.
Ⅲ. Documents Available for Inspection
Notification on signature of Memorandum of Understanding between Baoli Holdings (Singapore) Pte Ltd and Russian Federal Highway Agency (Russian & English versions)
Notice is hereby published
Board of Directors of Jiangsu Baoli Asphalt Co., Ltd.
March 5, 2015