Document:

ex4_55.htm

Exhibit 4.55

Tripartite Escrow Agreement

 

This Tripartite Escrow Agreement (hereinafter referred to as “Agreement”) is executed on 8th July 2015 by the following parties in Shenzhen, PRC:

 

Party A: Global Sources  Properties (Shenzhen) Co., Ltd.

 

Company Registered No.:440301503236702

 

Authorized Representative:  Sandy Ng

 

Company Address: 35 Floor, Shenzhen International Chamber of Commerce Tower, No.168 Fuhua 3rd Road, Futian District, Shenzhen

 

Party B: Shenzhen Sihai Hengtong Investment Holding Group Co. Ltd.

 

Company Registered No.:440301109864653

 

Authorized Representative: Chen Shaozhen

 

Company Address: Room 201, Block A, No.1 Qianwan Road 1, Qianhai Shenzhen-Hong Kong Cooperative Zone, Shenzhen

 

Party C: King & Wood Mallesons (Shenzhen)

 

Authorized Representative: Zhao Xianlong

 

Company Address: 28 Floor, Landmark 4028 Jintian Road, Futian District, Shenzhen

 

(Party A, Party B and Party C hereinafter collectively referred to as “Parties”, respectively as “a Party”)

 

Whereas:

 

	
A.  

	
In the matter of Party A transfers to Party B the title of Unit 5001, 5002, 5003, 5005, 5006, 5008, 5009 and 5010 (collectively 8 units, hereinafter collectively referred to as the “Property”, please refer to Appendix for details) of 50th floor of Shenzhen International Chamber of Commerce Tower, which located at the intersection of Yitian Road and Fuhua 3rd Road  of Futian District, Shenzhen, which are legally owned by Party A, Party A and Party B executed the Letter of Intent (hereinafter referred to as “LOI”) on 6th July 2015.

 

	
B.  

	
Based on the stipulations in the LOI, Party A agrees that upon Party B has paid the deposit in full in accordance with the stipulation in the LOI, the original of the Property Title Certificate (hereinafter referred to as the “Original”) should be escrowed by the third party.

 

  

  

  

	
C.  

	
Party A and Party B agree to jointly designate Party C as the escrow party for the Original. Party C accepts the afore-mentioned designation and Party C will escrow the Original according to the stipulations hereunder.

 

Therefore, for escrow of the Original, via negotiation and under free will, Parties agree on the terms and conditions as follows to comply with:

 

Article 1.             The Period of Escrow

 

	
1.1

	
Parties jointly agree that the period of Party C’s escrow regarding the Original (hereinafter referred to as the “the period of escrow”) hereunder is from the date that Party A delivers the Original to Party C to the earlier date of the following two dates:

 

	
(a)

	
The date when Party A and Party B submit the document to the authorities in order to go through the title transfer registration formalities(subject to the written notice to Party C jointly instructed by Party A and Party B with company seals from both);

 

	
(b)

	
30th November 2015.

 

	
1.2

	
Within the period of escrow, unless Party A and Party B jointly issue the written instruction to Party C, Party C will not return the Original to any Party.

 

Party A and Party B unanimously agree that within the period of escrow, in case that Party A due to some specific reasons, such as declaring company tax, needs the Original, Party B would cooperate with Party A to jointly issue the written instruction to Party C for Party B’s collection of the Original. After using the Original, the Original shall be returned and to be escrowed in accordance with this Agreement.

 

	
1.3

	
At the expiration date of the escrow, unless Party A and Party B jointly otherwise instruct, Party C should return the Original to Party A.

 

	
Article 2.  

	
The method of escrow

 

Parties unanimously agree that the method of escrow of the Original should be: When Party A delivers the Original to Party C, Party A and Party B shall verify the Original and then Party C seals the Original in the envelope with the company chops from Party A, Party B and Party C respectively sealed on the flap of the envelope. Within the period of escrow, Party C keeps the original.

 

	
Article 3.  

	
Miscellaneous

 

	
3.1

	
Delivery and return of the Original should be handled in accordance with the stipulations within Appendices of this Agreement.

 

	
3.2

	
Notice, dispute resolution and other issues related to this Agreement should be implemented according to the stipulations in the LOI.

 

	
3.3

	
The agreement will be executed in six (6) sets of original copies which shall take effect upon executions by all Parties. Each Party hereto will hold two (2) sets with equal legal effectiveness.

 

[Below is intentionally left blank]

 

  

  

  

 [Execution page of Tripartite Escrow Agreement]

 

 

	
Party A:

	
Global Sources  Properties (Shenzhen) Co., Ltd.

 

	  	
(Company chop)

 

	
Authorized/Legal Representative:

	
 Sandy Ng (Signature)

 

	  	  
	
Party B:

	
Shenzhen Sihai Hengtong Investment Holding Group Co., Ltd.

 

	  	
(Company chop)

 

	  	  
	
Party C:

	
King & Wood Mallesons (Shenzhen)

 

	  	
(Company chop)

 

	
Authorized/Legal Representative:

	
Zhao Xianlong (Signature)

 

 

 

 

 

 

 

Executed in Shenzhen, PRC

 

Date: 8th July 2015

 

  

  

  

Appendix 1

 

The information regarding the Property Title Certificate of the Property and copies

 

	
No.

	
The number of the unit

	
The number of Property Title Certificate

	
Construction Area (m2)

	
1

	
5001

	
ShenFangDiZi No.3000531648

	
249.21

	
2

	
5002

	
ShenFangDiZi No.3000531649

	
123.71

	
3

	
5003

	
ShenFangDiZi No.3000531911

	
594.56

	
4

	
5005

	
ShenFangDiZi No.3000531910

	
91.63

	
5

	
5006

	
ShenFangDiZi No.3000531909

	
249.21

	
6

	
5008

	
ShenFangDiZi No.3000531904

	
123.71

	
7

	
5009

	
ShenFangDiZi No.3000531908

	
594.56

	
8

	
5010

	
ShenFangDiZi No.3000531903

	
91.63

  

  

  

Appendix 2-1

 

RECEIPT

 

To: Global Sources  Properties (Shenzhen) Co., Ltd.

 

Shenzhen Sihai Hengtong Investment Holding Group Co. Ltd.

 

To whom it may concern:

 

We hereby receive the original Property Title Certificates (8 Originals in total) from Global Sources Properties (Shenzhen) Co., Ltd. as the title owner of the of the properties, i.e. Unit 5001, 5002, 5003, 5005, 5006, 5008, 5009 and 5010 of the 50th floor of Shenzhen International Chamber of Commerce  Tower, which located at the intersection of Yitian Road and Fuhua 3rd Road , Futian District, Shenzhen (hereinafter referred to as “Original”).

 

King & Wood Mallesons (Shenzhen) will provide the escrow service for the Original according to the stipulations of the Tripartite Escrow Agreement executed on [ ], [ ], 2015.

 

The words hereunder shall have the same meaning as defined in the Tripartite Escrow Agreement unless otherwise specified.

 

[Below is intentionally left blank]

 

King and Wood Mallesons (Shenzhen)

 

(Company Chop)

 

Authorized Representative :

 

(Signature)

 

Date: [] [], 2015

 

  

  

  

Appendix 2-2

 

NOTICE

 

To King and Wood Mallesons (Shenzhen) (your firm):

 

To whom it may concern:

 

According to the Tripartite Escrow Agreement executed on [], [], 2015, we hereby inform your firm to return the originals of the Property Title Certificate (8 originals in total) to Global Sources  Properties (Shenzhen) Co., Ltd., who is the title owner of the properties of unit 5001, 5002, 5003, 5005, 5006, 5008, 5009 and 5010 of the 50th floor of Shenzhen International Chamber of Commerce Tower located at the intersection of Yitian Road and Fuhua 3rd road , Futian District, Shenzhen, in order to go through  the property title transfer registration.

 

Unless otherwise specified, the words hereunder shall have the same meaning as defined in the Tripartite Escrow Agreement signed on [], [], 2015.

 

[Below is intentionally left blank]

 

 

Global Sources  Properties (Shenzhen) Co., Ltd.

 

(Company Chop)

 

Authorized Representative:

 

(Signature)

 

 

 

Shenzhen Sihai Hengtong Investment Holding Group Co. Ltd.

 

(Company Chop)

 

Authorized Representative:

 

(Signature)

 

Date: [] [], 2015

 

  

  

  

Appendix 2-3

 

RECEIPT

 

To King and Wood Mallesons (Shenzhen) (your firm):

 

To whom it may concern:

 

We hereby confirm we receive from your firm the originals of the Property Title Certificate (8 originals in total), title owner is Global Sources Properties (Shenzhen) Co., Ltd., who owns  the properties of unit 5001, 5002, 5003, 5005, 5006, 5008, 5009 and 5010 of the 50th floor of Shenzhen International Chamber of Commerce Tower located at the intersection of Yitian Road and Fuhua 3rd road , Futian District, Shenzhen.

 

Unless otherwise specified, the words hereunder shall have the same meaning as defined in the Tripartite Escrow Agreement signed on [], [], 2015.

 

[Below is intentionally left blank]

 

 

Global Sources  Properties (Shenzhen) Co., Ltd.

 

(Company Chop)

 

Authorized Representative:

 

(Signature)

 

Date: [] [], 2015ex4_56.htm

Exhibit 4.56

Letter of Agreement

	
Party A:

	
Global Sources  Properties (Shenzhen) Co., Ltd.

 

	
Company Registration No.:

	
440301503236702

 

	
Authorized Representative:

	
 Sandy Ng

 

	
Party B:

	
Shenzhen Sihai Hengtong Investment Holding Group Co., Ltd.

 

	
Company Registration No.:

	
440301109864653

 

	
Authorized Representative:

	
Huang Chunxiang

 

	
Party C:

	
Shenzhen Sihai Hengtong Property Co., Ltd.

 

	
Company Registration No.:

	
440301109337146

 

	
Authorized Representative:

	
Huang Chunxiang

(Party A, Party B and Party C hereinafter separately referred to as “Party”, collectively referred to as “Parties”)

 

Whereas:

 

	
A.  

	
In the matter of Party B purchases from Party A the properties of entire 50th floor of Shenzhen International Chamber of Commerce Tower (hereinafter referred to as “Property”) owned by Party A, Party A and Party B executed the Letter of Intent for Assignment of Property of the 50th Floor of Shenzhen International Chamber of Commerce  Tower (hereinafter referred to as “LOI”) on 6th July, 2015, and Party B already paid the deposit of RMB 20,000,000 to Party A; and

 

	
B.  

	
Party B plans to arrange Party C to be the transferee of the Property,  Party A plans to agree the afore-mentioned alteration, and all Parties agree that the deposit which has been paid by Party B should be deemed as being paid on behalf of Party C and therefore should be further deemed as the payment made by Party C to Party A. 

 

Therefore, to clarify the rights and obligations of each Party, with respect to altering the transferee from Party B to Party C and how to deal with the deposit issue, all Parties, via negotiation and under free will, agree on the terms and conditions as follows:

 

	
1.  

	
All Parties jointly agree to alter the transferee from Party B under the LOI to Party C, as well as to alter Party B under the Tripartite Escrow Arrangement to Party C hereto.

 

	
2.  

	
All Parties jointly agree that, for the deposit of RMB 20,000,000 that Party B has paid to Party A, Party B should issue a statement, i.e. Payment on Behalf of Others  to Party A, declaring the afore-mentioned deposit is paid on behalf of Party C and the legal relationship and legal consequences caused by the afore-mentioned payment should be limited to Party B and Party C, which in any case are irrelevant to Party A.

 

	
3.  

	
Upon the execution of this Agreement, Party B should assume irrevocable joint and several liability in favor of Party A for Party C’s obligations under the LOI and the Sales Contract executed thereof.

 

	
4.  

	
All Parties further confirm that the Tripartite Escrow Agreement, which was executed by Party A, Party B and King & Wood Mallesons (Shenzhen office) regarding the escrow of the original of the Property Title Certificate on 8th July, 2015 remains unaltered and will be performed by all Parties.

 

  

  

  

	
5.  

	
Party C clearly specifies that its specific information for communication is set out as follow:

 

	
Party C:

	
Shenzhen Sihai Hengtong Property Co., Ltd.

	
Mail Address:

	
35 Floor, Block A, International Finance Center (IFC), the intersection of Shennan Road and Caitian Road, Futian District, Shenzhen

	
Postal Code:

	
518000

	
Attention:

	
Chen Shaozhen

	
Tel:

	
0755-8278 6199, 186 7668 7297

	
Fax:

	
0755-8271 0678

 

	
6.  

	
This Agreement takes effect upon signatures and seals by all Parties and shall be executed in three sets of original copies. Each Party shall hold one set of this Agreement.

 

 

[Below is intentionally left blank]

 

  

  

  

[Execution page of Letter of Agreement]

 

	
Party A:

	
Global Sources  Properties  (Shenzhen) Co., Ltd.

 

	  	
(Company chop)

 

	
Authorized Representative:

	
Sandy Ng (Signature)

 

	  	  
	
Party B:

	
Shenzhen Sihai Hengtong Investment Holding Group Co., Ltd.

 

	  	
(Company chop)

 

	
Authorized Representative:

	
Huang Chunxiang (Signature)

 

	  	  
	
Party C:

	
Shenzhen Sihai Hengtong Property Co., Ltd.

 

	  	
(Company chop)

 

	
Authorized Representative:

	
Huang Chunxiang (Signature)

 

This Letter of Agreement is executed in Shenzhen, PRC

 

The date of execution is 21st August, 2015

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