Liard plans to acquire 200% equity of Jinda Lighting for RMB 200 million

Liard announced on November 22 that he will purchase 100% shares of Shenzhen Jinda Lighting Co., Ltd., which is held by 10 parties including Zhang Zhiqing, through the issuance of shares and payment of cash, and raise matching funds.

On the evening of November 20, Liard just announced the acquisition of 100% equity held by shareholders of Beijing Internet Yida Technology Co., Ltd., which is a system integrator for display and control of the broadcast and television industry.

Prior to the transaction, Liard did not hold shares in Jinda Lighting. After the transaction, Jinda Lighting will become a wholly-owned subsidiary of Liard. Liard said that the issue price was 19.95 yuan / share, and the parties confirmed that the total number of shares issued was about 7.61 million shares. In terms of raising matching funds, Liard issued no more than 3.76 million shares to no other than 10 specific investors at the lower limit of the issue price of 17.95 yuan/share.

Based on September 30, 2013, the estimated value of 100% shares held by 10 shareholders including Jinda Lighting and other shareholders was 206 million yuan, and the transaction price was 203 million yuan. Among them, Liard will pay 25% of the transaction consideration to each counterparty in cash, and pay 75% of the transaction consideration to each counterparty by issuing shares.

According to the announcement, Jinda Lighting is mainly engaged in urban lighting planning and design, construction of indoor and outdoor, gardens, squares, roads, bridges, light environment planning and design. Jinda Lighting's shareholders promised that from 2013 to 2016, Jinda Lighting's net profit will not be less than 15 million yuan, 22.5 million yuan, 29.25 million yuan, 38.03 million yuan.