China photoelectric intends to acquire a Special Purpose Company

HC semitek June 13th evening release postponed resumption of major asset restructuring announcement, the company said the restructuring of the underlying asset is a process of establishing SPV (Special Purpose Company), the SPV is a holding company, is not the actual business, the SPV Target Corp intends to buy 100% of the transaction to shareholders of the Target Corp's equity. The transaction of Target Corp as a leading sensor companies in the microelectronics industry.

Notice that the controlling shareholder of the underlying assets of the transaction for the Yiwu harmonious core light equity investment partnership (limited partnership), the actual controller of the underlying asset is not yet determined. The transaction for the issue of shares to buy assets and raise matching funds and related transactions, the specific program has not yet been determined. At present, the company and the shareholders of Target Corp has signed a memorandum of reorganization, is on the refinement of the transaction plan for further consultation and communication.

The announcement also pointed out that this transaction, the underlying assets of SPV target assets of 100% equity matters China acquisitions of overseas enterprises, to the competent departments of Commerce, development and Reform Commission, foreign exchange management departments have the right department approval and filing. At present, the transaction has not yet been approved by the competent authorities of the steps.

(closing April 15, 2016 Statistics)

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