Business Circle to spend about 39 million dollars in cash to complete the holding of Mai Lin

Absrtact: May 22 News, Macaulay said last night, the Business Circle Network E-commerce Co., Ltd. has been successfully acquired from a number of shareholders in the hands of a total of 290 million shares of Macaulay, accounting for about 63.7%. The transaction was announced on January 30, 2014 and the net agreed to spend about 39 million dollars

May 22 News, Macaulay said last night, the Business Circle Network E-commerce Co., Ltd. has been successfully acquired from a number of shareholders in the hands of a total of 290 million shares of Macaulay, accounting for about 63.7%.

The deal was announced on January 30, 2014, and the business Circle agreed to spend about $39 million in cash to buy about 63.7% of the Mai Lin issued circulated shares.

The completion of the transaction also means the transfer of control over the Macaulay. Michael Shen, CEO of Beichun and two other directors Yu Zhengjun (Sina CFO), Qinda (China trend COO) separation. Three cell group Vice President Chen Bin, business district network president Ye, such as four people into the board, Chen Chen as chairman, Ye as CEO. The appointment takes effect immediately upon completion of the transaction.

Business Circle is located in Nanjing, is a enterprise and consumer integrated marketing platform, 2012 by the three cell group, Yurun Group, the German base group, the Golden Eagle Group, the new Hundred Group and Nanjing Qinhuai District government jointly funded.

Macaulay 2013 reported that the transfer of shares in the transaction of the institutions including Sequoia Capital of the Maxpro and ever Keen (a total of 27.2%), Beichun of the "a" (transfer 11.8%), Sina Company (transfer 16.9%), China Trend (transfer 7.8%), amounted to 63.7%.

Shareholders of "Meat cut"

In 2011, Sina spent 66 million U.S. dollars to buy 76,986,529 shares in the MAI, China's trend to spend about 34.73 million U.S. dollars to buy 40,519,226 shares in the Mai Lin.

As of December 31, 2013, Sina's shareholding has not changed, China's trend in the number of shares reduced to 35,380,806 shares. How much did the two companies lose by investing in Macaulay?

The net buys about 39 million US dollar price to buy 290 million shares of Mai Lin Common stock, in this calculation, the price of each common stock is 0.1345 US dollars, Sina one-time clear out, sell shares income is 10.355 million dollars.

Sina bought these shares in 2011 at a price of 66 million U.S. dollars, the investment in the Mai Lin to make Sina loss of 55.645 million U.S. dollars.

China's 2013 annual report shows that it sold 5,138,420 shares in the year, earning 1.151 million yuan (about $189,000). The report also showed that China's trend in January 2014 to 4.8 million U.S. dollars to the remaining Mai Lin shares sold to the network. China moves two stock sales to 4.989 million dollars.

China's move to buy these shares in 2011 was $34.73 million trillion, and the investment in Macaulay made China's trend to lose 29.741 million dollars.