Depp technology to 160 million yuan acquisition of LED lighting and lighting accessories business

Depp technology announced, will be able to acquire a 60% interest in science and technology enterprises Jun Yu even shareholder loans to Fitch, total cost 160 million yuan. The target group will be mainly engaged in the production of LED in business China lighting and lighting accessories.

The price of 30 million yuan in cash, payment of $40 million to issue promissory notes, the issue of $2.25 per share of $40 million to pay the price of the shares to pay for the payment of $90 million. The price of the share price is 2.2 yuan higher than the closing price of $2.27% yesterday, the cost of shares accounted for an enlarged share capital of $4.33%.

According to the agreement, the Seller guarantees that, since the date of completion within twelve months, the target group in addition to the tax and any non regular or special projects before the audited consolidated net profit will not be less than 25 million yuan ($30 million).

Depp refers to the science and technology, because of the global demand LED products is expected to continue to rise, the confidence and related products LED industry future prospects.