Leeco plans to buy Ganwei's equity in Leyang Film and Television and gives you a voluntary 50% discount.

on the evening of March 30th, Letv announced that Letv intends to acquire 47.83% of Gan Wei's stake in Leyang Film and Television. After the acquisition, Gan Wei will no longer hold the stake in Leyang Film and Television, but will still hold the position of president.

original title: Ganwei quit! After emptying his stake in Leyang Film and Television and selling it to Jia Yueting at a 50% discount

was questioned by the Shenzhen Stock Exchange for 30 days, Letv gave a solution to compete with Leyang Film and Television.

on the evening of March 30th, Letv announced that Letv intends to acquire 47.83% of Beijing Leyang Film and Television Media Co., Ltd. (hereinafter referred to as Leyang Film and Television) held by Gan Wei. After the acquisition, Gan Wei will no longer hold the equity of Leyang Film and Television, but will still hold the position of president.

it is worth noting that after a series of capital operations, Gan Wei transferred some of her shares to the company's employee shareholding platform, then introduced new investment, and then sold the remaining shares to Leeco at a 50% discount. And according to the announcement, Gan Wei will not be able to get the equity transfer money from Leeco until 2019. As of the 30th close, Leeco 32.22 yuan per share, the total market capitalization: 63.85 billion yuan.

strong > transfer 45% equity to employee shareholding platform / strong >

in 2015, Beijing Leyang Film and Television Media Co., Ltd. was established. Is a set of film and television (film, television, network drama) investment, management, planning, production and marketing capabilities in one of the omni-directional professional film and television company, with young people as the main market, the main business includes film investment, production, publicity; TV series investment, distribution; artist brokerage; game research and development, operation and so on.

Gan Wei, who was born in Chongqing, made her debut in the film circle with Jing Tian, Bai Bing and Han Xue as the "four beauties of the capital". When he was on the rise in his career, he "retreated completely" and married Jia Yueting, which gradually faded in people's eyes until the promotion of the Crown Princess. At the end of the year, the online drama with an investment of nearly 20 million yuan set a broadcast volume of more than 2.6 billion.

then when Gan Wei was mentioned, in addition to "actress", "madame Letv" and "producer", she also had the identity of "female boss" and "entrepreneur".

on February 23, 2017, Leyang Film and Television announced the completion of round A financing, valued at 1.2 billion yuan, invested by Dinghui Investment, Lemeng Pictures and Le Blossom Fund. In February 2017, Gan Wei increased the capital of Leyang Film and Television, holding 83.53%, and Beijing Weixing Film and Television Culture Co., Ltd. held 16.47%. Gan Wei became the actual controller of Leyang Film and Television.

after receiving an inquiry letter from the Shenzhen Stock Exchange on March 1, Jia Yueting and his spouse Gan Wei promised to put forward a reasonable solution within the next month on the premise of giving priority to protecting the interests of shareholders of the listed company.

the announcement shows that Gan Wei and Beijing Weixing Film and Television Culture Co., Ltd. (hereinafter referred to as "Weixing Film and Television") transferred 45% of its interest in Leyang Film and Television to Beijing Youyang Cultural Center (limited partnership) (hereinafter referred to as "Youyang Cultural Center") (which is the employee shareholding platform of Leyang Film and Television). For team motivation. To this end, the equity structure of the underlying company is adjusted as follows:

1. Weixing Film and Television transferred all its 16.47% stake in Leyang Film and Television to Youyang Cultural Center;

2, Gan Wei transferred its 28.53% equity stake in Leyang Film and Television to Youyang Cultural Center.

after the above equity change, Youyang Cultural Center directly enjoys 45% of the rights and interests of Leyang Film and Television.

and the above equity change work has been completed, and the Leyang Film and Television equity incentive platform has been built.

strong > introduce a new round of financing and sell shares at 50% discount / strong >

in addition, after the above equity changes, Le Yang Film and Television will complete another round of financing, including CDH Investments Management Co., Ltd., Shanghai Lemeng Film and Television Media Co., Ltd., and Beijing Lesen Investment Consulting Co., Ltd. (the investment agreement has been signed by all parties in this round of financing).

after the end of the new round of financing, Ganwei's stake will be reduced to 47.82%, Youyang Cultural Center's stake will drop to 39.13%, CDH Investments Management Co., Ltd. will hold 8.69%, Shanghai Lemeng Film and Television Media Co., Ltd. will hold 2.60%. Beijing Lesen Investment Consulting Co., Ltd. holds 1.73%. At present, the parties to this round of financing have signed an investment agreement.

after the above equity transaction is completed, Leeco plans to acquire Gan Wei's remaining stake in Leyang Film and Television with cash, that is, 47.82% stake in Leyang Film and Television.

announcement shows: "after negotiation, Gan Wei voluntarily determined the transaction consideration of this scheme at 50% of the estimated value of her shareholding." In addition to selling shares at a 50 per cent discount, the acquisition agreement also includes performance betting.

according to the announcement, the profit commitment period is 2017, 2018 and 2019, and the compensation obligor of the profit commitment is Gan Wei.

Gan Wei won't get the equity transfer from Leeco until 2019.

the announcement said that within six months after Leyang Film Television's 2019 audit report was issued, Leeco paid the rest of the transaction consideration to Gan Wei after deducting the amount of compensation (if any) that Gan Wei should make to the listed company.

after the completion of the equity acquisition, Gan Wei will be appointed as the president of Leyang Film and Television, who will be fully responsible for the operation and management of Leyang Film and Television.

of course, in addition to this, Leeco also issued several important announcements: Jia Yueting completed 6.041 billion yuan of equity transfer. The agreed transfer of Letv shares (involving an amount of 6.041 billion yuan) has all completed the registration procedures to Jiarui Huixin (a subsidiary in China); Letv holding transferred the equity of Letv Film (involving an amount of 1.05 billion yuan). At present, we are actively promoting share delivery and industrial and commercial change. Letv has introduced a new strategic investor (through the transfer of old shares and the increase of capital and shares, involving an amount of 7.95 billion yuan). At present, the delivery of shares and the industrial and commercial changes involved in this project have all been completed. Jiarui Huixin's investment money has reached about 5.462 billion yuan; Letv's new equity financing of 1.83 billion yuan from other investors has been completed.

in addition, the board of directors of Leeco also received a written resignation from Han Fangming, a director of Leeco: "I have been vice chairman of Leeco since October 2015. strategic investors need to appoint a director to the board of directors, so I voluntarily request to resign as vice chairman of Leeco and withdraw from the board of directors." Liu Shuqing (currently the senior general manager of the risk Management and Control Center of Rongchuang China Holdings Co., Ltd.) will be nominated as a non-independent director candidate for the third board of directors of the company.

Edit: yvette