2013 LED industry hot six cases: NVC convertible top

First, the convertible case

NVC denies well-designed convertible program

After a series of dazzling equity trading action, NVC once again involved in the whirlpool of public opinion. On the weekend, for the outside world "profits" and "to fight investors led by Yan Yan and other rumors, he said and Elec-Tech (hereinafter referred to as the BDO) scheme is proposed in the exchange between the BDO after" provisional decision ", and not the so-called carefully designed" trap ", Wu Changjiang is denied directly convertible with the previous the fighting event related.

Exchange program details of the outside world and there is speculation. Wu Changjiang said in an exclusive interview with our reporter. He pointed out that before and have purchasing BDO NVC business cooperation, the two sides have always hoped for the depth of cooperation, including equity, until the BDO suspension, Wu Changjiang also suggested that the BDO consider buying other shareholders' stock, "but the person said to be tied to the depth of cooperation with my interest in this context the two sides, took out the convertible programme.

In this scheme, Wu Changjiang will NVC hands of about 11.8% of the equity transfer to the BDO, keep a 6.79% stake. De Hao will together hold 20.05% stake in NVC, becoming the largest shareholder of NVC, a total of HK $1 billion 654 million (about 1 billion 343 million yuan); Yan Yan led by Saif Schneider and Germany respectively NVC electrical second and three largest shareholder, holding 18.48% and 9.21%.

Two, claims case

FSL claims: "a win win win the lawsuit

The event this year FSL shareholders collective claims, to the enterprise standard, industry reshuffle purification, are significant investors awakening consciousness, it indicates that the China lighting industry and even the whole Chinese stock market will open a new chapter.

Event reduction: Buddha suffered shareholder joint claims 70 million

Recently, FSL announced that the company was 515 investors to court, Securities Misrepresentation liability dispute on the grounds that the company claims more than 70 million. One of the largest number of investors in the history of securities rights activist case.

According to FSL's announcement, the company received on September 17th in Guangzhou City Intermediate People's court "summons", "notice" and other relevant legal documents, the Guangzhou City Intermediate People's court accepted the plaintiff has filed 515 (pieces) for Securities Misrepresentation liability disputes on the grounds of the company filed a civil lawsuit, require the company to assume the illegal information disclosure civil liability for compensation, claims amounting to 73 million 430 thousand yuan RMB and HK $81 thousand and 900.

FSL: light off the shackles of the road

In fact, even if the court awarded FSL compensation, the company also has the strength to bear. FSL has been hailed as a "cash cow": A shares listed since 1993 to 2009 16 years, often cash dividend, the total amount of cash dividends amounted to 2 billion 100 million yuan, shareholders have high cash dividends from making money hand over fist, therefore, the collective claims of minority shareholders is good, can let FSL again look at yourself in the throes of solution, under the yoke, travel light, show the true power of lighting giant.

In fact, as a state-owned enterprise, have the resources and capital advantages in enliven the economy, but there are also a set, the business is far better than private economy is flexible, often at a disadvantage in the lighting industry in the free competition in the market. Although FSL has long been known as cash cow, in fact, not all can be seen as a reward, behind the huge bonus, you can clearly see the weakness of investment opportunities. Companies apparently see this, and made some tentative action.

There is no denying the fact that large enterprises such as FSL have great advantages in the market competition. Right now, FSL is in a critical period of transformation, the sudden attack of the door, no doubt will disperse the energy of FSL transformation. Today, FSL withdrew the lithium business into LED business. However, FSL transformation is not smooth, operating profit in the first half of this year fell by nearly 30%.

Three, private case

Canyuan Sanan optoelectronics Alliance

Canyuan June 29, 2013 shareholders will be held by private placement, resolution, issue of not more than 120 million shares per share is NT $19.6, the introduction of China, Sanan optoelectronics strategic alliance, but the Investment Commission approved.

Canyuan alliance, LED manufacturers in April this year because of an optoelectronic three striking one snag after another, the outbreak of the financial statements of suspicion and other scandals, the Investment Commission suspended review. But recently came again, expected service trade negotiations on both sides after the patch in three, Taiwan Investment Commission may first with the "conditional" investment case precedent clearance.

In June 29, 2013, canyuan shareholders through private placement, in order to further strengthen the international competitiveness, and enhance the overall operating efficiency. Canyuan through private mode, the introduction of international manufacturers cooperation, currently locked to human Sanan optoelectronics, canyuan is expected to achieve 19.9% of the shares.

Chairman Jane tomoto said, given the recent trend of LED industry integration, to enhance the international competitiveness, the introduction can be expanded canyuan products in the global market sales to the sea, and manufacturing can expand the scale of economic and strategic investor orders, for the long-term development of the necessary strategy.

Jane tomoto pointed out that, according to the company in Sanan Optoelectronics