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EX-99.1 - EXHIBIT 99.1 - China TransInfo Technology Corp. | exhibit99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): October 26, 2010 (October 21, 2010)
CHINA TRANSINFO TECHNOLOGY
CORP.
(Exact name of registrant as specified in its charter)
Nevada | 001-34134 | 87-0616524 |
(State of Incorporation) | (Commission File No.) | (IRS Employer ID No.) |
9th Floor, Vision
Building,
No. 39 Xueyuanlu, Haidian District,
Beijing, China
100191
(Address of Principal Executive Offices)
(86) 10-51691999
Registrants Telephone Number,
Including Area Code:
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 8.01. Other Events.
On October 21, 2010, China TransInfo Technology Group Co., Ltd. (the Group Company), a variable interest entity of China TransInfo Technology Corp., entered into a registered capital contribution agreement (the Contribution Agreement) with Beijing Marine Communication & Information Co., Ltd. (Beijing Marine) and Zhongyuan Credit Guarantee Co., Ltd.(Zhongyuan Credit) whereby Zhongyuan Credit agreed, within 20 business days following the date of the Contribution Agreement, to contribute RMB 30 million (approximately $4.38 million) in cash into the Group Companys majority-owned subsidiary, China TranWiseway Information Technology Co., Ltd. (China TranWiseway) in exchange for a 30% equity interest in China TranWiseway. Following this transaction, the Group Company will retain a 55% majority ownership of China TranWiseway while Beijing Marine and Zhongyuan Credit will own 15% and 30% equity interest in China TranWiseway, respectively.
The foregoing summary of the material terms and provisions of the Contribution Agreement does not purport to be complete and is qualified in its entirety by reference to the agreement filed as Exhibit 99.1 to this report, which is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
China TransInfo Technology Corp.
Date: October 26, 2010
/s/ Shudong Xia
Chief Executive Officer
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