Dehao Runda (002005) announced on the evening of November 13, the company decided to terminate the planning of asset integration. The company's shares resumed trading since the market opened on November 14, 2014. The company promises not to plan the above-mentioned major events within three months from the date of termination of this major event and stock resumption.
The major event planned by the company for this time is the integration of LED lighting assets. The company intends to sell all operating assets and liabilities related to the LED lighting business to NVC Lighting Holdings Co., Ltd. (02222.HK), an important shareholding subsidiary, and NVC Lighting will pay the consideration in cash. The sale of this asset will solve the problem of the competition between NVC Lighting and the company, which is conducive to the standardized operation of the two listed companies, rational allocation of the business and resources of both parties, optimization of the asset structure of both parties, and the realization of a win-win situation for the two listed companies.
For the reasons for terminating major events, Dehao Runda said that during the planning of this major event, NVC Lighting had a dispute with NVC Lighting's former director and CEO Wu Changjiang [microblogging]. In mid-September and early November 2014, Wu Changjiang was found to have caused violations of the guarantees to reduce the book cash of NVC Lighting, which seriously affected the ability to pay for asset integration.
Dehao Runda said that the company has repeatedly communicated with NVC Lighting's board of directors, carefully analyzed the debt level and cash flow of NVC Lighting, and discussed the possibility of NVC lighting change payment tools. However, considering that NVC Lighting's production and operation is recovering, due to the impact of non-compliance guarantees, its cash reserves have declined, and it does not have the time window for issuing additional shares. Therefore, it is considered that it is not appropriate to implement the asset integration. Timing 〖Consider the above actual situation, the company decided to terminate the planning of this asset integration.
Dehao Runda also said that the company's chairman Wang Donglei also mentioned the integration of LED lighting assets in an interview with the media on November 11, 2014. The implementation of this matter shall prevail. Although the company terminated the integration of LED lighting assets, the follow-up company will continue to promote in-depth cooperation with NVC Lighting to promote the healthy development of the two listed companies.
The major event planned by the company for this time is the integration of LED lighting assets. The company intends to sell all operating assets and liabilities related to the LED lighting business to NVC Lighting Holdings Co., Ltd. (02222.HK), an important shareholding subsidiary, and NVC Lighting will pay the consideration in cash. The sale of this asset will solve the problem of the competition between NVC Lighting and the company, which is conducive to the standardized operation of the two listed companies, rational allocation of the business and resources of both parties, optimization of the asset structure of both parties, and the realization of a win-win situation for the two listed companies.
For the reasons for terminating major events, Dehao Runda said that during the planning of this major event, NVC Lighting had a dispute with NVC Lighting's former director and CEO Wu Changjiang [microblogging]. In mid-September and early November 2014, Wu Changjiang was found to have caused violations of the guarantees to reduce the book cash of NVC Lighting, which seriously affected the ability to pay for asset integration.
Dehao Runda said that the company has repeatedly communicated with NVC Lighting's board of directors, carefully analyzed the debt level and cash flow of NVC Lighting, and discussed the possibility of NVC lighting change payment tools. However, considering that NVC Lighting's production and operation is recovering, due to the impact of non-compliance guarantees, its cash reserves have declined, and it does not have the time window for issuing additional shares. Therefore, it is considered that it is not appropriate to implement the asset integration. Timing 〖Consider the above actual situation, the company decided to terminate the planning of this asset integration.
Dehao Runda also said that the company's chairman Wang Donglei also mentioned the integration of LED lighting assets in an interview with the media on November 11, 2014. The implementation of this matter shall prevail. Although the company terminated the integration of LED lighting assets, the follow-up company will continue to promote in-depth cooperation with NVC Lighting to promote the healthy development of the two listed companies.
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