Following the October 27, LeTV released a notice to remind Jiayue Ting, Jia Yuefang fulfill the loan commitments, December 7, LeTV notice said the receipt of the Beijing Securities Regulatory Bureau decision, Beijing Securities Regulatory Bureau in the decision on Jiayue Ting, Jia Yuefang order Corrections and other regulatory measures.
The decision said, 'You made a promise in May 2015 that you will lend all the money you get from LeTV shares to the listed companies for use as working capital, and you will be exempt from interest. In November 2017, you have made it clear that you are unable to continue performing the listing The Company is committed to interest-free borrowing, withdrawing all loans when the listed companies are in difficulty, refusing to honor their commitments, disregarding the risks of the Company, seriously damaging the vital interests of listed companies and the vast majority of small and medium-sized investors, and adversely affect the society.
Beijing Securities Regulatory Bureau on Jiayouting to take corrective measures to monitor, requiring jayuan Ting on the irregularities issued by the written rectification report, the report includes but not limited to: the understanding of the existing problems, the specific rectification measures taken, the reasons for the problem is not rectification, follow-up Rectification plan, rectification deadline and so on.
Music video shouting Jia Yunting fulfill loan commitments
On October 27, LeTV released "Notice on Sending Letters to Mr. Jia Yuanting and Ms. Jia Yuefang," reminding that Jia Yunting and Jia Yuefang fulfill their loan commitments.
Announcement shows that Jiayue Ting on May 25, 2015 to the Letv sent a "share reduction plan letter of intent," promised to be planned in the next six months (May 29, 2015 - November 28, 2015), the partial reduction LeTV stock held by itself, all the proceeds will be lent to the company as working capital, borrowings will be used for the day-to-day operations of the company, the company can be withdrawn within the required period according to the liquidity needs, borrowing deadline will not be less than 60 Month, free of interest.
July 27, 2015, Jiayue Ting additional commitment to say, the funds have been reduced to the listed company will be lent all use, the listed company to repay, the repayment of funds, Mr. Ji Yunting will receive repayments from the date of six months All used to increase stake in music video.
Jiayue Ting also promised that when the same amount of shares will be increased by then, if the average price of holdings exceeds the average price of holdings, the difference between the deduction of proceeds and the total amount of holdings will be given to listed companies at no compensation During the holding period, dividend, bonus issue and conversion of capital public reserve into share capital and other ex-dividend issues will be adjusted accordingly. (Average trading price = total trading amount / total trading shares)
In June and November 2015, LeTV and Jiayue Ting signed two "loan contracts" with a commitment of not less than RMB2.5 billion and RMB3.2 billion, respectively. Loans will be used for the day-to-day operations of the company and the loan term is not low In a decade (120 months), free of interest, used to supplement the company's working capital.
Notice said, as of October 27, Jiayue Ting LeTV net of the actual loan balance of 0 yuan.
At the end of 2014, Jia Yuefang, in order to meet the daily operation needs of the company, plans to dispose of the LeTV stock held by him through the transfer of agreements or the centralized transfer of bulk transactions in the coming month, and lend the proceeds to the Company as working capital. The loan will be used for the day-to-day operation of the company. The company may withdraw the loan according to the liquidity requirement within the prescribed time limit. The loan term shall not be less than 60 months and shall be exempt from interest.
Jia Yue Fang signed the "Loan Contract" with LeTV in December 2014 and February 2015 respectively with the loan amount of not less than RMB178 million and RMB1.5 billion respectively. The loan period is 5 years and interest is waived for replenishment of the Company's operation funds.
At present, Jia Yuefang actually owes a loan balance of 11.0095 million yuan to LeTV.
The announcement finally said that please Jia Yueting, Jia Yuefang sent a letter within two weeks after receipt of this letter, and to determine whether to continue to perform their loan commitments, if continue to perform, please specify the way and time to continue to perform. The web will be treated as two people will no longer continue to fulfill their commitments.
After LeTV announcement, neither Jiayue Ting nor Jia Yuefang made an open response to the announcement.
Jiayue Ting cash about 100 million
September 19, LeTV net sponsor institutions in China Securities on the Shenzhen Stock Exchange released 2017 semi-annual report on the LeTV show that since 2015, Jiayue Ting reduction of funds lent to listed companies the maximum amount of 4716470000 yuan, the cumulative amount For 11344260000 yuan.In the first half of 2017, in the case of company funds, jia yingting not in accordance with previous commitments will continue to lend funds to listed companies to use.
On May 26, 2015, LeTV announced that it will reduce its holding of 148 million shares in the next six months. During the reduction period: 2015 5 November 29, 2015, November 28, 2015, reduction of the way for the agreement to transfer, block trade or centralized bidding method.According to the current music video stock price is expected to cash up nearly 100000000000. Notice that the reduction of the proceeds of Jiayue Pavilion lend to all music Net, used for the daily operation of the company, the loan period of not less than 5 years, free of interest.
According to the announcement of the reduction of 11.3 billion in proceeds, by 5 years, according to the annual interest of 5% count, can help music as the province about 2.5 billion interest rate, if 10% of the interest calculation, help LeTV save about 5 billion financial costs. According to the LeTV announcement, at present, Jia Yunting borrows 0 yuan from LeTV and Jia Yuefang borrows 11.0095 million from LeTV.
On October 31, more than one fund collectively lowered its valuation of LeTV as most of the funds lowered its valuation of LeTV to RMB 7.82, while its valuation fell nearly 50% to HK $ 15.33 before the suspension Almost cut.
At the end of November, a number of fund companies once again collectively lowered their valuation of music videos. According to the valuation of LeTV as given by the fund companies, most fund companies adjusted the music video valuation to 3.91 yuan and China Post and GF respectively to 3.92 yuan. The lowest adjusted valuation of the fund is 3.9 yuan.
If the closing price before the suspension of 15.33 yuan, LeTV valuation fell over 7 percent, explosion risk exposure will be the music after the resumption of trading as a crisis.
On the evening of December 4, the announcement of lawsuit released by Founder Securities revealed that Liu Hong, the vice chairman of LeTV Group and Yang Lijie, former financial director of LeTV, had not applied for coercion. Early repurchase LeTV equity pledge was Founder Securities application enforcement.