EPISTAR, Taigu billion light franchise facing it together

The prospect of LED upstream epitaxial industry look pretty, Taigu recent outbreaks of management rights dispute, the two largest shareholder of the company sent EPISTAR and last year by private stationed and billion light carry on, electing of board market and fiery staged.

Taigu board term expires 3 years, is expected in June 28th shareholders' meeting elected. Taigu recently become acquisition targets rampant rumors, market rumors, EPISTAR and billion light in recent years by private equity and centralized trading market trading mode has been made in Taigu shares, will adopt the mode of cooperation in Taigu company.

According to the management rights dispute, Taigu company said that the company wants to have external joint Taigu in this matter, the market does have rumors, but in any case, Taigu is holding firm, the company has been operating independently well, resolutely oppose hostile takeover.

As for the alleged billion light and crystal electric franchise in Taigu is deliberately denied hostile takeover intentions.

EPISTAR spokesman Zhang Shixian said, if you want to merge Taigu crystal electric early and, no merger intentions, did not mean that, at the invitation of Taigu directors last year, through private investment, has become the single largest shareholder of Taigu (holding approximately 23%), have a seat board, there is hope to maintain strategic cooperation the relationship between.

Zhang Shixian said that both sides have been in the OEM relationship, as is not to further cooperation, to see if there is no Taigu meaning, will not insist.

However, Zhang Shixian also pointed out that if the company can pay attention to the interests of shareholders, good corporate governance and good operating performance, will continue to support the management team.

Billion light spokesman Liu Bangyan said, in order to defend the interests of shareholders, has issued 2 certificates of deposit letters, the main purpose is to uphold the spirit of corporate governance Taigu can reap the greatest benefits for all shareholders, rather than personal interests as the biggest consideration.

Liu Bang issued a letter saying, save, because in January 11th this year, Taigu resolution of the board of directors to issue $24 million in ECB (GDR), only 1% of the premium, in accordance with the general market premium is above 20%; February EPISTAR also issued ECB, the premium rate is 30%, the issue price is not reasonable Taigu, on both shareholders billion light, shareholders will be heavily diluted.

Liu Bangyan pointed out that, before the date of the board of directors, Taigu not electing of board bill into the shareholders' meeting agenda, contrary to the spirit of corporate governance, people have a "million years board" doubts.

It is understood that the current understanding of the Taigu company sent about 30% shares, through private equity acquired by the electric crystal is about 23%, about 7% to 8% light billion, the market came and crystal electric billion light continuously through the open market to buy Taigu holdings, both sides have a total of more than 4 equity taigu.

Taigu currently has 7 SEATS (including 2 directors independent directors), supervisors Taigu company sent 3 seats, with 5 seats of directors, billion light and crystal electric 2 seats. (Editor: LEDxume)

Taigu in electing of board market incentives, since this year the share price performance is relatively strong stocks, and stocks of different trend, this year rose more than 30%, the highest to 45 yuan, a record high of 3 and a half years.