Jiangsu Guojin Group Information Network Investment Co., Ltd. agreed in principle to acquire 56.94% stake in Jiangsu Broadcasting Cable Information Network Corporation Limited (SHSE:600959) from Jiangsu Province Radio & Television Group Co., Ltd. and others on June 13, 2020. An unpaid transfer agreement is yet to be signed. Jiangsu Guojin Group Information Network Investment Co., Ltd. signed an equity transfer agreement to acquire 56.94% stake in Jiangsu Broadcasting Cable Information Network Corporation Limited (SHSE:600959) from Jiangsu Province Radio & Television Group Co., Ltd. on June 24, 2020. After the completion of the transaction, Guojin Network will hold 2.4 billion shares outstanding in the company, accounting for 47.52% of the total share capital of the company and 471 million restricted tradable shares of the company, accounting for 9.42% of the company’s total share capital, and controlling 2.8 billion shares of the company in total, accounting for 56.94% of the company’s total share capital. The transaction is subject to approval of approval of Jiangsu Province Radio & Television Group and the superior authority of Jiangsu Guojin Group Information Network Investment. On June 24, 2020, the shareholders who hold 9.42% of the restricted tradable company shares signed Share Voting Rights Entrustment Agreement with Guojin Network.