In response to the Hong Kong International Arbitration Center's emergency arbitration results on Jia Yueting's Faraday future and Evergrande Health's contradictions, after the announcement of Evergrande Health on the Hong Kong Stock Exchange, Faraday responded yesterday, saying that he was in this emergency arbitration. The victory was achieved, and the announcement of Evergrande Health was misleading. However, Evergrande Health also issued a statement saying that its announcement on the Stock Exchange was very rigorous and would assume legal responsibility. So far, Jia Yueting and Evergrande may start a new round of tearing.
Both FF and Evergrande said they will consider taking legal measures
Yesterday, Faraday voiced through the official Weibo, saying that due to the misguided health of Evergrande, the outside world had misunderstood the truth and facts of the 'full victory in this arbitration.' In the solemn statement of the victory of the arbitral award, Faraday said in the future that it had won the emergency arbitration result of the Hong Kong International Arbitration Center. The arbitral tribunal dismissed the refusal of the MF to refuse to pay the financing due to FF’s failure to fulfill the obligations in the agreement. Law'.
In the future, Faraday believes that Evergrande Health’s previous announcement that the arbitral tribunal dismissed Faraday’s future full deprivation of Evergrande’s financing consent is completely inconsistent with the facts. 'According to the emergency relief award, FF did not have this emergency relief arbitration. Related claims. 'Faraday's announcement that Evergrande Health intends to confuse the appeal of FF in another arbitration with this emergency relief, 'released the wrong information to the capital market, seriously misleading the investors, and created a paradox against the legal facts. , blinded the media and the public. 'Faraday's future further said, 'Following the announcement of Evergrande Health's disregard of legal facts and misleading the capital market, FF reserves the right to take further legal action.'
However, Evergrande subsequently counterattacked that Evergrande Health is listed as a listed company. The announcement of the announcement will be very rigorous and will be legally responsible. 'Given FF and Jia Yueting steal the concept in the solemn statement, confuse the audience, mislead the public, currently Evergrande is working with a team of lawyers to consider filing a lawsuit against FF and Jia Yueting.
Jia Yueting and Evergrande's 'sweet period' only three months
On the evening of October 7 this year, Evergrande, a Hong Kong-listed company listed by Evergrande, suddenly announced that it had signed a merger and subscription agreement with FF Top under the control of Jia Yueting on November 30, 2017. Evergrande invested 2 billion US dollars in three years, accounting for 45% of the joint venture company. According to the agreement, it will pay 800 million US dollars before the end of 2018, 600 US dollars in 2019, and 600 million US dollars in 2020. Evergrande in 2018 5 On the 25th of the month, the payment of 800 million US dollars should be paid before the end of 2018. However, according to Evergrande, in July this year, Jia Yueting proposed that Evergrande’s 800 million US dollars had been basically used up, requiring Evergrande to pay 700 million in advance. The US dollar. Jia Yueting also used his rights in the majority of the board of directors to control the joint venture company. If the contract payment was not met, he would ask Evergrande to pay, and use this as an excuse to arbitrate at the Hong Kong Arbitration Center on October 3 this year. Request to deprive Evergrande of the right to consent to the financing as a shareholder and to lift all agreements.
The announcement of Evergrande Health marks the fact that Jia Yueting and Evergrande have been completely outrageous to the outside world. This means that Jia Yueting and Evergrande's 'sweet period' have only lasted for more than three months.
On June 25 this year, Evergrande Health announced its first disclosure of cooperation with Faraday. According to the information disclosed at the time, Evergrande acquired 100% of Hong Kong Shiying Company for HK$6.746 billion and indirectly obtained 45% of Smart King. Equity, becoming the company's largest shareholder, Faraday will hold a 33% stake in Smart King, and the remaining 22% will be reserved as equity under the equity incentive plan. This means that Evergrande officially entered Jia Yueting. Faraday's future.
In mid-July, Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, personally came to the future headquarters of Faraday in Los Angeles. Many photos with Jia Yueting were widely distributed on the Internet. Even the media seized the details: Xu Jiayin and Faraday's future high-level When holding the strategy seminar, Jia Yueting did not sit face to face with Xu Jiayin, but the two chose to sit on the same side, Xu Jiayin was in the main seat, Jia Yueting was next to him. The outside analysis indicates that Jia Yueting’s Faraday future has been Big control.
No matter who is in the primary and secondary, with the gold medal in the Evergrande, the problem of Jia Yueting's lack of money is solved at the most critical moment, which makes the outside world think that Jia Yueting's 'car dream' can finally be realized. However, only two more After the month, the Evergrande staff members who were still on the National Day holiday were urgently notified that Jia Yueting had applied for arbitration in Hong Kong. Therefore, on the last night of the long holiday, the announcement of Evergrande Health was officially released, indicating that both parties had completely torn their faces.
The results of the emergency arbitration were announced as 'no loss'
On October 25, Evergrande Health announced the announcement of the emergency arbitration results of Jia Yueting and Evergrande on the future project dispute of the new energy vehicle Faraday. The announcement shows that the emergency arbitration results received by Evergrande's wholly-owned subsidiary Shi Ying showed The arbitrator dismissed Smart King (the FF entity) to completely deprive the company of the financing of the application, and earlier rejected the new application that Smart King suddenly proposed to lift the mortgage of the Season Smart asset.
According to Evergrande Health, since FF is currently on the verge of bankruptcy, in order to protect the common interests of all shareholders such as Evergrande, arbitration allows FF to conduct financing with strict conditions. The valuation of new share financing shall not be lower than the valuation of Evergrande. Evergrande enjoys the right of first refusal of new shares; the amount of external financing before the final arbitration shall not exceed 500 million US dollars. According to this statement, in fact, Jia Yueting and Evergrande have their own gains and losses. On the one hand, Jia Yueting completely deprived Evergrande of refinancing. On the other hand, emergency arbitration also ruled that Evergrande could not prevent Jia Yueting from obtaining funds from other financing channels, which means that Jia Yueting can seek other investors to continue cooperation under certain conditions on a global scale.
However, according to Faraday's future statement, it has obtained a 'comprehensive victory', that is, the so-called 'arbitral tribunal dismissed Faraday's future complete deprivation of Evergrande financing consent application' is simply not in this arbitration. Because of the limited information available to the outside world, Obviously, it is impossible to make an accurate judgment on the contradictory arguments between Jia Yueting and Evergrande, but it is clear that the confrontation between the two has entered a new stage.