Lyad trench gas leak 1 billion purchase of U.S. Planar

Foreign media reports, August 12th, Riyadh and America (the world's top supplier pingda electronic display and digital signage system) announced that the two sides reached a final merger agreement, Riyadh US subsidiary will pay $6.58 per share for all pingda electronic common equity. On a fully diluted basis, pingda electronic stock price of approximately $156 million 800 thousand (about 1 billion yuan). The transfer of shares in accordance with the terms of delivery of both shareholders, in line with the anti-monopoly law and access to government.

This acquisition will enable Riyadh expanding existing LED display product sales range and improve its position in the international market.

Pingda electronic board of directors unanimously approved the merger agreement, and suggested that its shareholders voted in favor of the merger. Pingda electronic hope to convene a special meeting of shareholders and the implementation of mergers and acquisitions as soon as possible.

Riyadh chairman Li Jun said "we believe pingda electronic and Riyadh will promote each other, complement each other, get significantly improved, the future will continue to support the Riyadh pingda electronic business development. The acquisition also confirms Lyad's determination to expand international status. The integration of customer resources and Riyadh pingda electronic strong leading position in the field of video display technology, to provide customers with more perfect solution. "

Pingda electronic president and CEO Gerry Perkel said: "I believe that this transaction will bring great opportunities for our shareholders, employees and customers. The price of our stock exchange based on the latest Riyadh mergers and acquisitions, will provide 42% additional market investment for US investors, pingda electronic common stock for nearly a week of the weighted average price of $4.35, based on the additional investment of 51%. This will enhance the level of electronic status, promote the development and innovation of the company. "

Meet the specific conditions of the acquisition is expected to be delivered in the fourth quarter of 2015.

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