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SPI enters MOU on investing in Guocang Group Limited

PV developer, Solar Power, Inc. (SPI), has entered into a non-binding MOU to subscribe for shares in Guocang Group Limited.

SPI contemplates injecting capital in an aggregate amount of approximately USD 154.8 million in Guocang, along with Mr. Choi Chiu Fai Stanley, a private investor and 19% shareholder of SPI, to enable Guocang to pursue opportunities of high growth potential in the solar energy business. Upon entry into a definitive subscription agreement and closing of the subscription, SPI and Mr. Choi will together own 91.42% of the entire issued share capital of Guocang. The completion of the subscription is subject to certain conditions precedent, including entry into a definitive subscription agreement and satisfaction of the conditions therein, as well as obtaining certain waivers and approvals from regulatory authorities in Hong Kong and the Hong Kong Stock Exchange.
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