Dana Pictures will be acquired in cash and shares, 12 Ming shareholders can cash in nearly 270 million yuan

It is understood that this acquisition is carried out by a combination of issued shares and cash payment, with cash payment and issued shares accounting for 50% each. Dana Pictures is valued at 545 million yuan, and 12 shareholders including Bao Chunlei, Tong Liming and Sun Zhihua will receive nearly 272 million yuan in cash.

Original title: Dana Pictures was acquired by listed company Great Wall Film and Television, and 12 shareholders cashed in nearly 270

million yuan. On January 6, listed company Great Wall Film and Television plans to acquire Dana Pictures, a company listed on the New Third Board. Twelve shareholders cashed in 272 million yuan.

It is understood that this acquisition is carried out by a combination of issued shares and cash payment, with cash payment and issued shares accounting for 50% each. Dana Pictures is valued at 545 million yuan, and 12 shareholders including Bao Chunlei, Tong Liming and Sun Zhihua will receive nearly 272 million yuan in cash.

After the completion of this acquisition, 100% equity of Dana Films will be owned by Great Wall Films, and Dana Films will be changed to a wholly-owned subsidiary of Great Wall Films.

According to reports, on December 12, 2016, Great Wall Films and Dana Pictures signed a "Performance Compensation Agreement" for this acquisition. The agreement stipulates in detail the performance for the next three years. If the acquisition is completed in 2016, the net profit from 2016 to 2018 will reach 20 million yuan, 38 million yuan, and 50 million yuan. If the transaction is completed in 2017, the net profit from 2017 to 2019 will be no less than 38 million yuan, 50 million yuan, and 60 million yuan respectively.

If the above standards are not met, Dana Pictures shall compensate Great Wall Film and Television, and the specific compensation method shall be implemented in accordance with the agreement.

Dana Pictures said that after the completion of this merger, Great Wall Films and Television will leverage its advantages in main creative resources, TV series production, distribution channels and advertising resources to make every effort to build a large film industry chain, improve the company's profitability, and create value for shareholders.

The reporter learned that since its establishment, Dena Films has five cinemas in Zhejiang and Jiangsu, including Xiaoshan Dena, Sheyang Dena, Jiashan Dena, Huzhou Dena, and Jiande Jinma, with a total of 56 screens and 7224 seats.

According to data, Dana Pictures officially listed on the New Third Board on August 12, 2016, and is mainly engaged in derivative businesses such as investment, production, distribution and advertising of TV dramas. Operating income in the first half of 2016 was 75.5433 million yuan, an increase of 39.75% from 54.0579 million yuan in the same period last year; net profit was 13.2184 million yuan, an increase of 347.46% from 2.9541 million yuan in the same period last year.

Editor: Nancy