BRIEF-Cosco Shipping Development enters termination agreement with China Shipping

April 20 (Reuters) - Cosco Shipping Development

* Entered into termination agreement with China Shipping to

terminate CS subscription agreement & CS subscription

* Entered into a subscription agreement with China Cosco

Shipping Corporation Limited

* Cosco Shipping to subscribe for, co to issue, 50% of total

number of a shares to be issued under revised proposed

non-public issuance of a shares

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