Attached files
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EX-10.1 - Ever-Glory International Group, Inc. | v207701_ex10-1.htm |
EX-10.2 - Ever-Glory International Group, Inc. | v207701_ex10-2.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): January 10, 2010 (January 4,
2010)
EVER-GLORY
INTERNATIONAL GROUP, INC.
(Exact
name of registrant as specified in Charter)
Florida
|
000-28806
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65-0420146
|
(State
or other jurisdiction of
|
(Commission
File No.)
|
(IRS
Employee Identification
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incorporation
or organization)
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No.)
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Ever-Glory
Commercial Center,
509
Chengxin Road, Jiangning Development Zone,
Nanjing,
Jiangsu Province,
Peoples
Republic of China
(Address
of Principal Executive Offices)
(8625)
5209-6875
(Issuer
Telephone number)
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):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
¨
|
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))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01 Entry Into a Material Definitive
Agreement.
On January 4, 2011, Goldenway Nanjing
Garment Co., Ltd. (“Goldenway”), a People’s Republic of China (“PRC”) company
and a subsidiary of Ever-Glory International Group, Inc., (the “Company”),
executed and entered into a Working Capital Loan Agreement (“Agreement”) with
Shanghai Pudong Development Bank, a bank domiciled in the PRC
(“SPDB”). Though executed and entered into as of January 4, 2011, the
Agreement is effective as of December 10, 2010.
The
Agreement allows the Company to borrow RMB40 million (approximately USD$5.8
million), which amount was funded in full on December 10, 2010 pending final
documentation.
The loan
bears a fixed interest rate of 5.56% per annum. The loan proceeds
shall be used by the Company for working capital purposes. The loan
is secured by certain properties and land use rights of the
Company. The principal amount of the loan matures and is payable on
December 10, 2011 and the interest is due and payable on the 20th of the last
month of each quarter.
The
foregoing description of the Agreement does not purport to be complete and is
qualified in its entirety by reference to the complete text of the unofficial
English translation of the Agreement and the related Mortgage Agreement by and
between Goldenway and SPDB, each dated January 4, 2011 and attached hereto as
Exhibit 10.1, and 10.2 respectively.
Item
2.03 Creation
of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet
Arrangement of a Registrant.
See Item
1.01. Entry into a Material Definitive Agreement, which is incorporated herein
by reference.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
10.1
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Unofficial
English translation of the Working Capital Loan Agreement by and between
Goldenway Nanjing Garment Co., Ltd. and Shanghai Pudong Development Bank
dated January 4, 2011;
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10.2
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Unofficial
English translation of the Mortgage Agreement by and between Goldenway
Nanjing Garment Co., Ltd. and Shanghai Pudong Development Bank dated
January 4, 2011.
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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.
EVER-GLORY
INTERNATIONAL GROUP, INC.
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||
Date: January
10, 2011
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By: /s/ Edward
Yihua Kang
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By: Edward
Yihua Kang
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Title:
Chief Executive
Officer
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