Fuling mustard Tuber: Two shareholders promise to invest 500 million in five years without reporting

Yiao Wei Chongqing report time can dilute some memories.　　Sprint Gem failed in turn into the medium-sized plate fuling mustard, perhaps has forgotten two shareholders-Dongchao Thai Investment Group (hereinafter: East trillion Changtai) two years ago solemnly promised financial aid commitment.　　October 15, 2010, fuling Mustard will, once successfully approved, fuling mustard will be expected to issue no more than 40 million shares, to raise 240 million yuan into an annual output of 40,000 tons of mustard food production line, such as 3 projects. A feast of great wealth seems to be coming to an end. And more than two years ago, the East trillion Changtai to spend more than 85 million yuan successively through the increase of capital and recruit and beat the way to win fuling Mustard 32 million shares, and then to 28% of the shareholding proportion of two shareholders.　　Once the IPO is successful, the East trillion Changtai will be recorded on the income of billion, and Zhou Binquan led the 9 natural shareholders, will also sit tens of millions of yuan worth. However, the East trillion Changtai made a special commitment in the "Fuling Mustard Tuber Prospectus" (report) difficult to find traces.　　January 2008, East trillion Changtai in 2008 to spend 48,586,020 yuan of equity, had written promise "five years to fuling mustard investment more than 500 million yuan." It is not to be avoided that, on the one hand, the East trillion Changtai so far does not seem to have begun to fulfill the original special commitments.　　On the other hand, once the East trillion Changtai began to fulfill a special commitment, fuling mustard in the case of the East trillion Changtai 500 million yuan to support the situation, it disclosed in the IPO mentioned "annual output of 40,000 tons of mustard food production line" and other projects facing the 240 million yuan funding gap has been solved. Hand in hand with the increase of capital and auction fuling mustard from the "Township of Mustard" Zhongqing Fuling District, for many years has been Zhongqing star Enterprise. The company, founded in 1988, has so far passed its 22 birthday. Traced the development of fuling pickled mustard, the enterprise in 2007 as a wholly state-owned companies.　　Until the second half of 2007 to "Increase capital expansion and equity transfer", fuling mustard can be restructured into a joint-stock company.　　The prospectus shows that the road to the listing of Fuling mustard tuber began on August 9, 2007.　　On the same day, Fuling District Sasac issued the "on the clear Chongqing fuling Mustard (Group) Co., Ltd. restructuring process of the intermediary agencies notice" (Fu country issued [2007]143 number), the document said Fuling District Sasac "to the fuling mustard stock reform and promote the listing."　　At the same time, fuling mustard tuber increase the stock is also the title piece forward. September 28, 2007, Fuling District Sasac on a number of additional targets for selection and discussion, identified the East trillion Changtai and other 12 investors shortlisted. As for the price increase, it will be determined by reference to the subsequent "market price formed after the public listing of the state-owned stocks".　　The 12 investors listed above signed the "Capital Increase and expansion agreement" on November 28, 2007. Immediately thereafter, on December 17, 2007, a notice of the stock auction of Fuling Mustard appeared on the Chongqing Stock Exchange websiteOn。 According to our correspondent understand, the Chongqing Sasac officially issued approval on December 11, 2007, agreed to fuling mustard 8,914,866 shares (accounting for 23.8806% of the total capital, 1 yuan registered capital of 1 shares) to no less than 5.45 yuan/share of the price in Chongqing stock transfer, but Chongqing Sasac stressed　　, "The notice of transfer shall not set out the terms of unfair trading." And in the auction announcement, 23.8806% of fuling mustard stock listing price of 48,586,020 yuan, at the same time to the assignee made a certain condition restrictions-"Buyers must be legal persons, registered capital of 200 million yuan (including) above, non-foreign-funded enterprises; 2006 operating volume of more than 5 billion yuan,　　Has a wealth of experience in the restructuring of state-owned enterprises, there are more than three successful restructuring of large-scale state-owned enterprises, more than three years of overseas business or international cooperation experience, five years in the target enterprise investment more than 500 million. In the end, the registered capital is just 200 million yuan trillion Changtai on January 17, 2008 at the bottom of the auction to get the above equity.　　As a result of the above stock auction has confirmed the price, East trillion Changtai and Zhou Binquan can be used 5.45 yuan/share of the price of fuling mustard to increase capital, of which, East trillion Changtai capital 36.4395 million yuan.　　March 27, 2008, Fuling Mustard was formally changed by the limited company to the joint-stock company, but fuling in fuling mustard in the proportion of the shares from 100% down to 58%.　　"Five years investment 500 million yuan" commitment in fact, at this time the East trillion Changtai got fuling mustard, but it has an obligation to complete. January 17, 2008, East trillion Changtai and Fuling District Sasac signed the "Zhongqing state-owned property transfer contract," said the contract, in view of Fuling mustard 23.8806% of the equity in the "recruit to hang" when the agreed "buyers need five years in the standard enterprise investment more than 500 million", so the East trillion Changtai make a special commitment,　　That is, within five years of the effective date of the agreement, if Fuling District Sasac or fuling mustard Board requirements, then the East trillion Changtai will be directed to entrust loans and other legal forms to fuling mustard to provide cumulative amount of not more than 500 million yuan long-term investment. It is noteworthy that the above-mentioned investment in the form of commissioned loans, such as the costs incurred by the East trillion Changtai and interest rates than the same period of the same commercial bank loans rate concessions.　　However, if the Fuling District government has special arrangements for the investment demand of $500 million, the special arrangement shall prevail. According to the above "Zhongqing state-owned property transfer contract", Fuling mustard, the first major shareholder-Fuling Sasac and fuling mustard The Board of directors, the right to January 17, 2008-013 January 17 period to the East trillion Changtai request,　　East trillion Changtai will be below the same period of bank interest rate to fuling mustard to provide a sum of 500 million yuan commissioned loans.　　To be sure, this 500 million-yuan commissioned loan will have a positive impact on fuling mustard. On the one hand, as of June 30, 2010, fuling mustard short term loans and long-term loans are 22.5 million yuan, 117 million yuan, to be sure, aDan won the Changtai financial aid, will help fuling mustard significantly reduce financial costs.　　Fuling mustard, on the other hand, admits in the prospectus, now the company to implement the base construction, technological transformation, large-scale production, expand market share and other development plans, all need a large amount of funds, and the shortage of funds is the company's current development of the biggest constraints, if the East trillion Changtai lend a helping hand, the lack of funding seems to have ceased to exist. According to the "Fuling Mustard Tuber Prospectus" (report) shows that the Fuling mustard IPO plan to raise 240 million yuan into three projects, one is 146.49 million yuan into the "annual output of 40,000 tons of mustard food production line project"; the other is 500.05 million into the "mustard Metering packaging Automation Project"　　Three is an investment of 43.46 million yuan to "annual output of 5000 tons of mustard emulsion accessories production line project." Fuling mustard Tuber The completion time of the above three projects is estimated to be 2 years, 1 years and 2 years respectively. As of October 14, 2010, the distance of East trillion Changtai "five years of the Covenant" there are 2 years and 03 months of time.