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FYI - I asked Xin in a private email whether just transferring the equity held by RSB to Ulysses addresses BHR's concern if Ulysses is owned by Devon. She confirmed that for regulatory and other reasons, BHR does not want there to be any tracing back to either RSB or Devon. That wasn't clear in her original email but I presumed that to be the case.

George

George R. Mesires
Partner
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On Jul 1, 2016, at 5:57 AM, Eric Schwerin <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>> wrote:


Eric D. Schwerin
eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>

Sent from my iPhone

Begin forwarded message:

From: 王昕 <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>>
Date: July 1, 2016 at 1:17:09 AM EDT
To: "'Mesires, George R.'" <George.Mesires@FaegreBD.com<mailto:George.Mesires@faegrebd.com>>, "'Matthew L. Schwartz'" <mlschwartz@BSFLLP.com<mailto:mlschwartz@bsfllp.com>>, "'Michael Leonard'" <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>, "'James Bulger'" <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>, "'Eric Schwerin'" <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
Cc: "'Jonathan Li'" <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>, <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>, "'YU, Felix'" <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
Subject: 答复: BHR Directorship Issues

Dear Matthew,

I understand from Devon that he has given instructions for Boies to effect his resignation from BHR’s board and the amendment of his shareholding entity from the existing Rosemont Seneca Bohai LLC to Ulysses. As previously discussed on multiple occasions, please let us know what you need from our end to resolve these issues at the earliest. We have been fending inquiries regarding RSB and Devon’s involvement in ongoing SEC and Justice Department investigations and we urgently need to remove Devon for the time being from our director roster to avoid interruptions to BHR businesses.

Thanks.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816
Cel: +86 139 1162 0708
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>

发件人: 王昕 [mailto:xin.wang@bhrpe.com]
发送时间: Tuesday, June 14, 2016 10:46 AM
收件人: 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@faegrebd.com>>; 'Matthew L. Schwartz' <mlschwartz@BSFLLP.com<mailto:mlschwartz@bsfllp.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; 'jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
主题: 答复: BHR Directorship Issues

Dear Matthew and George,

I trust you have had a chance to speak to your respective clients since my last email and I am wondering if any updates are available on the matters raised therein.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816
Cel: +86 139 1162 0708
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>

发件人: 王昕 [mailto:xin.wang@bhrpe.com]
发送时间: Tuesday, June 7, 2016 12:14 PM
收件人: 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@FaegreBD.com>>; 'Matthew L. Schwartz' <mlschwartz@BSFLLP.com<mailto:mlschwartz@BSFLLP.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; 'jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
主题: BHR Directorship Issues

Dear Matthew and George,

Hope all is well since we last spoke. I am writing to follow up on the status of Devon’s resignation from BHR’s board / remuneration committee and the appointment of a replacement.

On a related note, I would also like to understand how Devon would like to deal with his shareholding in BHR through Rosemont Seneca Bohai. By way of background, we underwent a shareholder registration amendment last year with the Chinese regulators to change Devon’s shareholding entity from RST to the existing Rosemont Seneca Bohai (the process took altogether more than a year), we were subsequently instructed earlier this year to file another amendment to change Rosemont Seneca Bohai to Ulysses (an entity owned 100% by Devon) but that has been put on hold on account of present circumstances. From BHR’s perspective, we ask the relevant parties to consider, for the time being, a transfer by Rosemont Seneca Bohai of its shareholding to another entity (whether it is to RSP or Thornton or the management team) to avoid potential complications for our U.S. M&A deals and/or U.S. fundraising activities.

Happy to discuss over a call.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816
Cel: +86 139 1162 0708
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>