What is the shareholder structure?
The shareholder structure is very simple with Mr. Xu Jinfu, being the majority shareholder after Admission with a 41.2% stake in Tinci Holdings and Ms. Wang Keer, co-founder of Tinci, holding 18.5%. The Directors are satisfied that all transactions and relationships between Mr Xu Jinfu and his associates and the Company are and will continue to be at arm’s length and on commercial terms. To ensure that Shareholders are adequately protected in this regard, the Company has entered into a relationship agreement with Mr Xu Jinfu (the Relationship Agreement). Pursuant to the Relationship Agreement, Mr Xu Jinfu as controlling shareholder has given certain undertakings to the Company to the effect that the Board can amongst other things operate on an independent basis. Further details of the Relationship Agreement are set out in paragraph 9.2 of Part V of the Admission document.
