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Xiong Tao Shares To Push Staff Holding Plan To Be Purchased Brazil Lithium Battery Company
Mar 08, 2017

Xiong Tao shares (002733) March 8 morning announcement to implement more than 190 million yuan to implement the employee stock ownership plan. The company also announced that it intends to acquire 59.18% stake in Brazilian Unicoba, which is involved in the South American lithium battery market.

According to the announcement, the staff holdings of the funds raised the maximum amount of RMB 19,353.07 million, the source of funds for employees of the company's legal remuneration, self-financing and legal and administrative regulations to allow other means to obtain the funds, of which the actual Mr. Zhang Huarong, the controlling officer, will provide the borrower with the borrower.

The total number of employees who participated in the employee holding plan was not more than 50, of which 7 were directors, supervisors and senior management personnel who participated in the plan. The final number of participants was determined according to the actual payment. Based on the closing price of RMB 20.22 on March 3, 2017, the employee's shareholding plan has a maximum of 957.13 million shares, accounting for 2.73% of the total share capital of the Company.

Within 6 months after the employee's shareholding plan, the shareholders' meeting will complete the purchase of the underlying stock through the secondary market purchase, bulk transaction and the laws and regulations. The lock-up period is 12 months. The duration is no more than 48 months.

On the same day, the company announced that its wholly-owned subsidiary, Hong Tao, Hong Kong signed an "investment agreement", agreed to Hong Kong Xiong Tao in cash of 100 million Brazilian Real acquisition of Unicoba original shareholders held by Unicoba14,779,133 shares, representing the current total share of Unicoba 50.00 %; At the same time, Hong Kong Xiong Tao to cash 45 million Brazilian Real to subscribe to China Unicas issued 6,650,610 shares. After the completion of the transaction, Hong Kong's Hongtao holds Unicoba21,429,743 shares, representing 59.18% of the total share capital of Unicoba after the capital increase, and Unicoba will become the holding subsidiary of Hong Tao, Hong Kong.

Xiong Tao shares said that after the completion of the equity transfer delivery procedures, the company is expected to be included in the year 2017 consolidated statement of the scope of the company. Through the acquisition, will help the company to quickly open up the Brazilian and South American battery market, to promote the company to enhance overseas market share, and help the company in South America in the future power lithium batteries, energy storage lithium battery market opportunities; help the company industry Chain to further extend to the downstream end customers, enhance the company's brand strength, and enhance the value of the industry chain.

The acquisition of equity funds temporarily use their own funds or other means to raise the acquisition of funds to be the company's public offering of convertible corporate bonds to raise funds in place to be fully replaced, is expected to the company's future operating results have a positive impact.