WORKING SCHEDULE FOR FORMATIONOF A JOINT VENTURE
EDF(China)Holding Ltd(“EDF China”),as the sole investor, established EDF Energy Management (Wuhan) Co., Ltd. (“EDFWuhan”) in July 2016 in CaidianDistrict, Wuhan City. EDF wuhan is focused on development and operation ofenergy service project in Sino-French Eco-City which is located in CaidianDistrict and other areas in Wuhan City
Sino-French WuhanEcological Demonstration City Investment and Development(“EDCID”) is a company wholly owned by the Caidian District of Wuhan City and its businessactivities include investment in construction of demonstrative project,ecologicalmanagement and the investment in common interest projects, and the investment,operation and maintenance of urban ecological projects, etc.
EDCID intends tocooperate with EDF China to jointly develop energy service projects inSino-French Eco-City as well as other areas in Wuhan City, and thereby it wouldlike to make an equity investment in EDF Wuhan and transform the latter to be ajoint venture formed by EDF China and EDCID. EDF China would also like to cooperatewith EDCID to jointly develop energy service projects and welcomes EDCID'sinvestment in EDF Wuhan. For this purpose, EDF China and EDCID have started toconsult and negotiate on the matters and the transactional documents relatingto EDCID's investment in EDF Wuhan.
NOW THEREFORE, EDFChina and EDCID would like to set out the following working schedule for theremaining works regarding the joint venture to be formed by them and willendeavour to do their best to follow such working schedule to carry out theremaining works:
Expected Time Of Completion
an appraiser to conduct an assets appraisal on Wuhan EDF
End September 2017
Upon confirmation by SASAC, EDF China and EDCID to finalise the deal structure and determine the price for transfer of the equity interest from the EDF China to EDCID
Mid October 2017
EDF China and EDCID to finalise the transactional documents (i.e., an equity transfer agreement , an equity joint venture contract and the articles of association)
End October 2017
EDF China and EDCID to obtain their respective internal approval for the transactional documents
Mid November 2017
EDF China and EDCID to execute the transactional documents
End November 2017
EDF China and EDCID to assist EDF Wuhan to complete the formalities the relevant authorities and registration/ filing of the equity transfer and transformation of the EDF Wuhan into a joint venture
Mid December 2017
IN WITNESSWHEREOF, the above working schedule is executed by the legal representatives orthe duly authorized representatives of the parties on this 27th dayof September in Wuhan City.