Le networks of major action: buy flowers film + raised 1.6 billion yuan

(editor: qing nan)

continued for more than a month suspension reason is important to disclose, le networks announced last night, according to the proposed in cash and a combination of issued shares to buy a 100% stake in flowers, film and television, in the form of issuing shares to buy music as a 99.5% stake in the new media, and raising matching funds, total is 1.598 billion yuan.

statement, said, after the completion of the transaction networks will hold the flowers, film and television 100% equity and 100% stake in the new media. In addition, le networks shares will resume trading on October 8.

900 million yuan to buy the flowers film

the data shows, the flowers, film and television was established in November 2006, is located in zhejiang hengdian film and television industry area, with a registered capital of 3 million yuan, is a collection of investment, production and distribution of film and television company. Was resting “happiness resembling flower is same”, “golden”, “Zhen Huan biography and the story of new editorial content. Before this, the two companies had many times cooperation on copyright, among them, the Zhen Huan biography and the story of new newsroom, respectively in 2011 and 2013, pleasure by networks in 2000 and 50 million yuan prices to get exclusive network copyright.

on the flowers, film and television ownership structure, cao has a 95% stake, Bai Yu 5% stake.

in a statement, said le networks for the price of 900 million yuan, the cao and Bai Yu to pay in cash and a combination of issued shares, purchase its total owns a 100% stake in flowers, film and television, which pay 30% of the transaction of consideration in the form of cash, cash totaling 270 million yuan. By way of issuing shares to pay 70% of the flowers movie deal on price, the total number of issued shares to 21.3054 million shares.

happy networks to cao, Bai Yu, Letv holdings and laterite throws the purchase of assets through issuing shares in issue price of 29.57 yuan/share.

cao, Bai Yu by subscribing for shares since the transaction over twelve months from the date of this offering shall not be transferred or set the pledge; Since the date of legal restricted period expires, the underlying shares in full after certain conditions in three times.

at the same time, cao and Bai Yu commitments, flower film and television in 2013, 2014, 2015 annual net income 63 million yuan, 81 million yuan and 81 million yuan respectively. If the flowers, film and television in the promised annual actual profit do not meet current year commitment, cao and Bai Yu to compensate the stake in listed companies.

$299 million acquisition of Letv new media

the data shows, depending on the new media by enjoyed holdings in cash funding, the registered capital of 1 billion yuan, the legal representative is Jia Yueting. After jiangsu clay venture investment management co., LTD. (hereinafter referred to as: the clay venture capital, equity structure changes of miniaturization: a 53.5% stake, terra venture capital has a 46% stake, le miniaturization: a 0.5% stake.

miniaturization: the second statement says, with 299 million yuan price, to a particular object Letv holdings and clay venture capital by issuing shares to buy its total holdings of Letv 99.5% stake in the new media, total number of issued shares to 10.0947 million shares. Letv holding, clay venture through the trading of shares they have subscribed for since the end of 36 months from the date of this offering shall not be transferred.

to cao, Bai Yu, le le networks depending on controlling and laterite throws the purchase of assets through issuing shares in issue price of 29.57 yuan/share.

in addition, le networks to not more than 10 other specific investors non-public shares is not more than 15.0132 million shares, issue price of 26.61 yuan/share, raising matching funds total does not exceed 400 million yuan, of which 270 million yuan will be used in the transaction in cash to the price paid, the rest used for after the completion of the acquisition of business integration and complement the company liquidity.