Executives exchange assets for shares Angela Yeast is the first alternative MBO

After each reporter Hu Yuhui Jingshan light Machine (000821, closing price 6.51 yuan), a A-share a case of listed company executives "MBO." The first week of the suspension of angel yeast (600298, the former closing price of 21.57 yuan) today announced the targeted additional plans, and the company intends to issue shares to buy assets of the object, its actual control is the company's 13 senior executives and core technical bone set up the company.　　This is the first a-share market executives to the asset subscription listed companies to issue shares to achieve MBO case. Additional price 18.80 yuan/stock according to the plan, the company intends to issue shares purchased by Hubei Sunrise Technology Co., Ltd. (hereinafter referred to as the company) held Angel Yeast (Yili) Co., Ltd. 30% Equity (hereinafter referred to as Angel Ili), angel Yeast (Chifeng) Limited 10.5% Equity (hereinafter referred to as Angel Chifeng) , Yichang Hongyu Plastic Industry Limited Liability Company (hereinafter referred to as Hongyu plastic industry) 65% equity. The top two of the 3 companies are the holding subsidiaries of Angel Yeast. Angel Yeast now holds 70% equity in Angel Ili, while the shareholding ratio of Angel Chifeng is 87%.　　After the completion of the additional issue, Angel Ili will become a wholly-owned subsidiary of Angel Yeast, and the proportion of Angela Chifeng's shareholding will rise to 97%.　　Hongyu Plastic Industry currently has a company and natural persons Shi Dafeng two shareholders, the ratio of both 65% and 35% respectively. The issue price is set at 18.80 yuan/share, but the number of shares issued has not been determined.　　Angel Yeast said that the number of shares to be issued will ultimately be regarded as the subject of equity in the securities industry after the evaluation of assets assessment institutions, based on the negotiation between the two parties to determine the final transaction price, and then the underlying equity transaction pricing divided by the issue price to determine. However, the assets of the company to be purchased have not yet been audited and evaluated by the asset assessment and auditing institutions, and the earnings forecasts are not yet audited by CPA.　　Thereafter, the company board of directors will be required to consider the value of assets and the number of shares issued, to obtain the agreement of shareholders, the provincial Sasac's approval of the issue plan and the SFC approved the transaction. 13 Executive indirect MBO Angel Yeast said, the directional additional program is to reduce related transactions, further improve the corporate governance structure, thereby enhancing the company's overall profitability and market value. The program shows that, due to the important target market near the company's products, the transportation cost is low, at the same time has the advantage of the low coal price, in recent years, Angel Yili, Angel Chifeng's operating performance compared to the parent company monomer and consolidated statement caliber overall performance look more prominent, thus causing outside concern. In addition, the proposed purchase of another asset Hongyu plastic industry is one of the main packaging materials suppliers, in 2008, and the company occurred between the transaction amount of 43.3561 million yuan, accounting for about 35% of the company's similar procurement volume.　　Through this transaction, the company can eliminate the associated transaction. However, Angel yeast to issue shares to purchase assets of the company, the actual control is listed publicDivision 13 senior executives and core technicians. At present, the company's controlling shareholder and the actual control of the real person is Hubei Yu Dong Technology Co., Ltd. (hereinafter referred to as Yu-dong Technology), the latter holds its 56.575% equity. And Tung Technology a total of 13 natural shareholders, the 13 people, except stone such as gold are listed companies are currently the board of Directors and core management personnel.　　One of the company's chairman Yu Cofeng Capital contribution is 1.2 million yuan, the shareholding ratio of 10%, as the first major shareholder of Tung Technology, and the remaining 12 shareholders, including Angel Yeast current director, Deputy general Manager, chief accountant and other finished executives, such as the amount of capital contribution is 900,000 yuan. In addition to public information, Stone Gold in 2007 as deputy general manager of Angel Yeast, and Tung Technology holding company, was founded in June 2006.　　Angel yeast also made it clear that the next 12 months, the company has through the transaction to directly hold more than 5% shareholders of the company. The company has made a performance pledge, although it has not yet determined the number of releases and issued earnings forecasts. If Angel yeast 2009, 2010 and 2011 by the CPA firm Special audit of the target assets of the corresponding net profit is lower than the evaluation of the assessment of net profit or loss, the company promised to make up the difference.