Equity Transfer Agreement

EX-10.8 16 dex108.htm ENGLISH TRANSLATION OF EQUITY TRANSFER AGREEMENT DATED FEBRUARY 20, 2005 English Translation of Equity Transfer Agreement dated February 20, 2005

Exhibit 10.8

English Translation

Equity Transfer Agreement

Transferor: Guizhou Tongjitang Pharmaceutical Co., Ltd. (“Tongjitang Pharmaceutical”)

Transferee: Mr. Xiaochun Wang

Both parties hereby agree to the following, through friendly negotiations, in respect of the transfer of certain equity interests of Tongjitang Pharmaceutical:

 

  1. Transferor shall transfer 66.67% of Guizhou Tongjitang Sliced Herbs (the “Company”) held by it to Transferee for RMB3.4 million.

 

  2. After the transfer is completed, new shareholders of Guizhou Tongjitang Sliced Herbs shall amend the original articles of association and shareholders agreement.

 

  3. Transferee shall assume the credit, indebtedness and other expenses of the Company that arise after the transfer to the extent of his capital contribution to the Company.

 

  4. Prior to the transfer, the Transferor enjoyed the rights and assumed the obligations to the extent of his capital contribution to the Company; after the transfer, Transferor shall enjoy the rights and assume the obligations of the Company to the extent of its capital contribution to the Company.

 

  5. This agreement shall be in triplicate with each party holding one counterpart and the third counterpart being filed with the Administration of Industry and Commerce.

 

Transferor:

  (Seal) Guizhou Tongjitang Pharmaceutical Co., Ltd.   Transferee:    /s/ Xiaochun WANG

Date: February 20, 2005

  Date: February 20, 2005

Basic Info X:

Name: Equity Transfer Agreement
Type: Equity Transfer Agreement
Date: Feb. 26, 2007
Company: TONGJITANG CHINESE MEDICINES CO
State: E9

Other info: