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Enlightify Inc. — Director's Dealing 2008
Feb 22, 2008
35110_dirs_2008-02-22_00e0097f-a662-4f9b-852a-03719e4e7a6a.zip
Director's Dealing
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SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: China Green Agriculture, Inc. (CGAG)
CIK: 0000857949
Period of Report: 2007-12-26
Reporting Person: Li Tao (Director, CEO & President)
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Call Options | $ | Common Stock (6535676) | Direct | ||
| Other | $ | Common Stock (3156808) | Direct |
Footnotes
F1: Pursuant to an agreement entered into between Mr. Tao Li and Mr. David Yinshing To, Mr. Tao Li has the opportunity to acquire up to 6,535,676 shares of our Common Stock (the Earn In Shares), from Mr. To, upon the occurrence of certain conditions, which is described under Item 1.01 of the current Report on Form 8-K of China Green Agriculture,Inc., dated January 2, 2008 (the 8-K). In addition, pursuant to a Voting Trust Agreement by and between Mr. Tao Li and Mr. To, dated December 26, 2007, Mr. Tao Li is to have the voting power on the Earn In Shares on all matters from the date of the Voting Trust Agreement.The 6,535,676 shares are subject to a lockup period of approximately eighteen months during which no sale, pledge or other disposal on those shares can be made pursuant to a lockup agreement among the two persons and the Company filed as exhibit 10.5 of the 8-K.
F2: 3,156,808 shares of the 10,241,893 shares of Common Stock owned by Mr. To are placed in an escrow account pursuant to the Make Good Escrow Agreement by and among the Company, Mr. To, the investors and the escrow agent named therein. In the event that the Company does not achieve the 2009 targets (the 2009 Targets) set forth therein, the 3,156,808 shares of Common Stock will be conveyed to the investors for no additional consideration. In the event that the Company meets the 2009 Targets, the 3,156,808 shares will be transferred to Mr. Li.