With the full acquisition of "industrial cleaning exemption" has not been passed

Hongkong listed Jiangmen LED leading zhenminglee recently issued a notice to Neoneon Tongfang (formerly known as "Tsinghua Tongfang") supporting the 1 billion shares of the motion has been through the special meeting of shareholders, but the relevant approval exemption provided the full purchase offer has not been cleaned by majority, accounting for 68.76%, which shares the same side is now considering whether to subscribe matters.

According to the Hongkong company takeover rules, when listed companies when the acquisition of a controlling stake in a listed company, shareholding increased to a certain proportion, will trigger the Hongkong stock exchange offer, which is in the same subscription price to the small shareholders issued a tender offer. In order to avoid triggering a full acquisition, the need to apply for cleaning exemption".

According to earlier announcement, neo-neon shares to the same party overseas subsidiary placing 1 billion shares, 51.6% shares and 106.5% subscription equivalent to existing shares issued after the price of 0.9 yuan per share, compared with the suspension before the last trading price of 1.8 yuan discount of about 50%.

As a result of cleaning exemption has not been passed, the subscription side with the shares are considering whether to subscribe. Neoneon plan, the increase of the proceeds of 900 million yuan, used in Chinese and the global LED lighting market business scale and future development, and the potential future investment or acquisition opportunities.

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