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SK Net Service Company Ltd:The price of TCL reduce 14.6% for the successful completion of oriented addition

  • Jul 18th, 2008
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    • TCL Wang Hongbo Secretary of the Board of Trustees last night in “First Financial Daily,” a telephone interview that in December last year, TCL shareholders adopted by the General Assembly directed issuance of options, issue price of 4.51 yuan / Unit, the issue is not more than 380 million Unit, no less than 200 million shares. TCL take the initiative to adjust the orientation of additional programme is mainly directed against the current macroeconomic environment in order to facilitate the smooth completion of additional directional. However, the final implementation of the programme also brought to the shareholders of consideration by the General Assembly and the approval of the SFC.

    It is learnt that, TCL this orientation additional financing to 1.69 billion yuan, respectively, into medium and small size, two large-size LCD TV modules to the project and the wholly-owned subsidiary of TCL Industrial Holdings to increase investment for the reimbursement of TCL Multimedia for its subscription of shares Borrowers. At present LCD TV modules project in Huizhou, Guangdong province, has officially launched the South Korean company will provide technical support for the project. LCD TV modules project will enable TCL to the upper reaches of the industrial chain extending and expanding profit space.

    TCL Group (000100. SZ, under the “TCL”) today said it held the 14th meeting of the Board adopted the TCL directional adjustment issue price and issuance of additional quantities of the motion, after adjustment for the issue price of not less than 3.85 yuan ( The Board of Directors resolution notice 20 days before the company stock price will be 90 per cent), lower than the original proposal 14.6 percent, while circulation has increased, in the 200 million shares to between 4.4062 billion shares, the total amount of 1.69 billion Muzi Yuan unchanged.

    In addition, TCL Group Li Dongsheng, chairman and chief executive officer of the subscription agreement have also made corresponding adjustments. Li Dongsheng with other investors, the subscription price in accordance with the new implementation, subscription ratio at 18 percent. In the original proposal, the subscription prices of other investors notice of not less than 20 trading days before the company stock price will be 90 percent, Li Dongsheng the subscription price for notice 20 days before the company stock price will be 90%. Deserves attention is that Li Dongsheng of the forthcoming new subscription of shares in TCL lock period of three years, longer than other investors subscribe for shares locked for one year.

    This article is provided by SK Net Service Company Ltd

    (SK Net Service Company Ltd)


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