Planet Green Holdings Corp. (PLAG): M&A transaction — Planet Green terminates VIE agreements, deconsolidates Jilin Chuangyuan Chemical

Planet Green Holdings Corp.

Subsidiary Jiayi Technologies terminated all VIE agreements with Jilin Chuangyuan Chemical effective December 11, 2024.
Terminated agreements include Business Cooperation, Consultation Service, Equity Option, Equity Pledge, and Proxy agreements originally signed November 30, 2021.
Company will no longer consolidate Jilin Chuangyuan's financial statements for accounting purposes.
Parties irrevocably released each other from any claims related to the VIE agreements.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Planet Green Holdings Corp. completed a disposition involving Xiaodong Cai, Yongshen Chen, Jilin Chuangyuan Chemical Co., Ltd. (closed 2024-12-11).

Action: disposition
Counterparty: Xiaodong Cai, Yongshen Chen, Jilin Chuangyuan Chemical Co., Ltd.
Closing: 2024-12-11

Exact text from the filing

the Company no longer consolidates Jilin Chuangyuan’s financial statements into the financial statements of the Company for accounting purpose. The transaction was completed on December 11, 2024.

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Source: SEC EDGAR

accession 0001213900-24-107874

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