DivestmentApr 29, 2026, 09:31 AM
TIRXF Rescinds Ren Talents Inc. Deal; Cancels 3.21M Shares
AI Summary
TIAN RUIXIANG HOLDINGS LTD (TIRXF) has mutually agreed to rescind its previous transaction with Ren Talents Inc. and its sellers. This termination agreement unwinds the original deal, restoring assets to their original status. Key terms include the return of 100% equity interest in Ren Talents Inc. to its original sellers and the immediate cancellation of 3,211,010 Class A ordinary shares held in escrow by TRX. Both parties have also agreed to mutual risk ring-fencing, ensuring neither assumes the other's liabilities or risks.
Key Highlights
- Rescinded original agreement with Ren Talents Inc. and its sellers.
- Purchaser to return 100% equity interest in Ren Talents Inc. to original sellers.
- 3,211,010 Class A ordinary shares (Exchange Shares) held in escrow to be cancelled.
- Cancelled shares will resume status as authorized but unissued shares.
- TRX and Purchaser will not assume liabilities or risks of Ren Talents Inc.
- Ren Talents Inc. and sellers will not assume liabilities or risks of TRX.