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Kingsoft Inks Supplemental Investment Agreement with TencentBEIJING, Sep 07, 2011 (SinoCast Daily Business Beat via COMTEX) -- Kingsoft Corporation Limited (SEHK: 3888), an application software provider, announced that its affiliate Shell Network (transliterated) and Tencent's Shenzhen subsidiary have inked a supplemental agreement on strategic investment. According to the agreement, Shell Network will embed Tencent search engine in its website for one year, the annual maximum charges of which reaches up to CNY 9.7 million in total. Previously, Kingsoft Corporation has jointly announced with Tencent that both parties have reached a strategic investment cooperation agreement, which stipulates that Tencent will invest in Kingsoft Corporation to get a 15.68% of stock equity by means of share transfer. The agreement also stipulates the annual upper limit for the transaction, which is CNY 6.9 million as of December 30, 2011 and CNY 2.8 million for the period from January 1, 2012 to February 29, 2012. Source: www.sina.com.cn (September 07, 2011) |