As of February 1, the music video resumption of trading after seven limit down in the shadow of the music crisis, holding the music video stocks small partners who can smoothly running the road to become a focus of the market in which Peng Hua assets - Shanghai Pudong Development Bank - China Resources Shenzhen Guotou Trust - China Resources Trust, Runze 143, the collective funds trust plan 'because it is the first phase of employee stock ownership plan quite interesting.
The trust plans to buy 10,953,500 shares of LeTV at a price of 46.61 yuan / share, with a transaction value of 510 million yuan and a lock-up period of one year, the first phase of the musician employee stock ownership plan, which will expire in September of this year. As of now, if Shares held unchanged, the current market value of just 160 million shares.
Even welcome seven 'word board' limit
January 30, LeTV released unusual fluctuations in the stock exchange announcement pointed out that up to now, Jiayue Ting holds 102,026,600 shares of the company, accounting for 25.67% of the total share capital, of which 1.02 billion shares have been pledged to financial institutions if the company's share price Continue to fall sharply, and Jiayue Ting can not be timely additional security, financial institutions will have the right to dispose of the pledged equity, which may result in changes in the actual controller of the company.
In addition, Music Watch also faces other risks, the announcement said some of the related party receivables there is a risk of recovery, but also announced a projected operating loss of about 11.6 billion in 2017, compared with a profit of 555 million in the same period in 2016. Regarding the reason for the estimated loss, LeTV said in its announcement that during the reporting period, due to the continual capital shortage and liquidity turmoil from related parties, public opinion continued to be fermented and expanded continuously, causing a significant impact on the reputation and creditworthiness of the Company. The Company's Advertising revenue, terminal revenue and membership income, etc. all showed a sharp decline.At the same time, the company's daily operating costs (such as CDN expenses, amortization expenses, etc.) and financing costs continue to increase, resulting in the reporting period the company operating loss of about 37 billion yuan.
After the resumption of trading on January 24, Music Watch hit a continuous limit, dropping again after the opening bell yesterday, ushering in the seven "word board" limit. The closing price of 7.34 yuan reported a turnover of 7.1857 million yuan, the total market value of 29.282 billion yuan , The market capitalization of 186.41 billion yuan from the resumption of seven daily limit operator, LeTV market value of evaporation over 30 billion yuan.
Employee stock plans are huge Fukui
It is worth mentioning that, LeTV three quarterly disclosure of the top 10 shareholders not subject to trading moratorium, one called 'Penghua Asset - Shanghai Pudong Development Bank - China Resources Shenzhen Guotou Trust - China Resources Trust, Runze No. 143, a collection of funds trust plan' came in Sixth place.
According to the announcement of LeTV's First Phase Employee Stock Ownership Plan (Draft Amendment) disclosed by LeTV in September 2016, it can be learned that after the establishment of the LeTV employee share ownership plan, it entrusted China Resources SZITIC Trust Co., Ltd. to manage, And plans to subscribe for the inferior share of China Resources Trust-Runze, a collective trust fund plan established by China Resources SZITIC Trust Co., Ltd. The total number of employees participating in this employee shareholding plan is about 28, of which about 10 are supervisors and senior management Person, the specific number of participants according to the actual payment of employees to determine.
According to the announcement, the total amount of funds raised by the employee stock ownership plan is not more than 255 million yuan. CSRC is entrusted to act as the manager and the funds of the trust plan are all used to invest Penghua assets established by Penghua Asset Management (Shenzhen) Co., Ltd. as the asset manager Tongxin No. 1 asset management plan, the asset management plan is mainly to buy and hold music Watch network set a maximum of 510 million shares, each 1 yuan, in accordance with the 1: 1 set up priority shares and inferior shares, Lock-up period of 12 months.
According to the draft of the employee stock ownership plan, the trust plan is a structured product with a 1: 1 ratio of inferiority and inferiority. According to the draft of China's Securities News, 28 people of LeTV executives and core personnel actually contributed 255 million yuan to subscribe Inferior grade share, another 2.55 billion yuan of priority funds from Shanghai Pudong Development Bank, the cost of funds was 6.05%, 'Runze 143' the warning line was 0.75, stop loss line was 0.70.
The first phase of Employee Stock Ownership Plan purchased 10,953,500 shares of the Company through the secondary market bidding transaction with a turnover of 510 million yuan, an average transaction price of 46.61 yuan and a total purchase of 0.55 shares of the Company %. The first phase of employee stock ownership plan of the Company was successfully completed. The stock lock-up period of the plan is from September 20, 2016 to September 19, 2017 (one year time).
It is noteworthy that LeTV in the announcement made for the integration of the priority plan to achieve the rights and interests of the joint venture to provide security guarantees, but the resumption of LeTV has seven consecutive lower limit, down more than 50% if the Trust Program After the music network resumed its holding unchanged, the market value has shrunk to 160 million yuan.
Although the lock-up period ended on September 19, last year, due to prolonged suspension of shares, as of the end of the third quarter of last year, the trust plan still holds the top ten tradable shareholders.
Reporters noted that Shanghai Pudong Development Bank, the latest response to the media said that after the previous efforts, the relevant risk exposure has been significantly reduced.