De Ho Runda: NVC board of adjustment is a normal transition, outside do not read too much

By the market concerned NVC in July 14th announcement of its board of directors of companies changes, the original NVC executives Wu Changyong, Mu Yu, Wu Changjiang, Pei Jinhua, Yang Wenbiao et al to completely withdraw from the board seats, 11 directors of the Affiliated Companies by the NVC holdings board of directors of the company from the BDO Runda Wang Donglei and Wang Dongming, Xiao Yu and Schneider on behalf of Zhu Hai, Saif on behalf of Lin Heping to succeed. Nearly 11 executives executives quit the board of directors of the Affiliated Companies, Wu Changjiang still served as executive director of NVC Holdings limited.

Announcement shows that the board changes involving NVC's Huizhou NVC Optoelectronics Technology Co., Ltd. (NVC Chinese) 11 Affiliated Companies. NVC executive director Wu Changjiang and other senior executives at the exit from its 10 Affiliated Companies directors, Wu Changjiang I continue to retain the NVC board CEO position.

This will be since 2012 Elec-Tech shares NVC due to the integration of the two listed companies once again bring the conjecture.

The Department of public information, BDO into NVC only more than a year. In December 2012, China spent HK $1 billion 650 million, to absorb Wu Changjiang's shares by way of acquisition of NVC about 20% stake. After a series of ownership changes, in the past April, Elec-Tech again to 500 million Hong Kong dollar holdings of NVC 6.86% stake, currently, with 27.10% of the total equity as the first major shareholders to nvc.

A senior observers said, replacing the core under the jurisdiction of NVC holdings wholly owned subsidiary of NVC and Huizhou NVC two members of the board of directors reflects a balance of interests of the board of directors, at the same time to strengthen the internal control and corporate governance. Two board members shall be appointed by the board of directors. The replacement of two board members is a matter of law and procedure. Two the board of directors is the executive layer, this adjustment will be the level of the board of directors and the two board of directors considered unified, consistent corporate strategy and management and improve the efficiency of decision-making, but also give full consideration to the balance of interests of shareholders, is the optimization of corporate governance performance.

It is not difficult to see that Wu Changjiang himself did not at the level of the board of directors to make any adjustments, still served as director of CEO, see the major shareholder of BDO Runda still support Wu Changjiang NVC business from this level, the members of the board of directors of the shareholders' rights is not to replace the pattern of redistribution. According to the announcement, Wu Changjiang holds a 9.31% stake in the BDO, Wang Donglei Wuhu BDO investment holding 24.73% of the shares of the two BDO, who has deep interests tied.

According to the close NVC insiders revealed that the original two NVC board members stationed more randomness, the replacement of the members of the board of directors will have been brewing time in internal directors, all shareholders are to reach a consensus. Wu Changjiang himself is also in favor of the adjustment of the board members.

Market analysts believe that the members of the board of directors of the adjustment is conducive to the improvement of collaborative manufacturing system and the system of the BDO NVC, has more positive significance for Elec-Tech is the core of the device, including LED, the product can be formed quickly and effectively in the promotion of nvc.

More LED related information, please click on the China LED network or WeChat public account (cnledw2013).