The transaction price of over 3 billion! The acquisition of NVC domestic manufacturing business

Today morning, Elec-Tech (hereinafter referred to as "the company") announced the suspension of the disclosure of the latest developments. The major asset restructuring of the underlying assets of NVC Holdings Limited (hereinafter referred to as "NVC") manufacturing operations in the territory of Chinese control and related enterprises, including but not limited to the specific Huizhou Leishi Photoelectric Technology Co. Ltd. (hereinafter referred to as the "standard enterprise"); controlling shareholder of the underlying asset at NVC, there is no actual controller.

The company through a wholly-owned subsidiary of Elec-Tech International (Hongkong) Co., Ltd. 24.30% stake held by NVC, as the single largest shareholder, according to the provisions of the "Shenzhen Stock Exchange Listing Rules", the transaction constitutes a connected transaction.

According to the announcement, the company issued shares to raise funds supporting the proposed project, mainly used to pay cash for the transaction price and the underlying business development, to raise matching funds does not exceed the size of the proposed project for the price of the transaction, and the number of shares issued does not exceed the issue before the 20% of the total share capital. The company expects the transaction price range between RMB 3 billion -50 billion transactions underlying net assets of approximately RMB 15-30 yuan.

Elec-Tech said, the specific scope of the underlying assets to be acquired by the main body of further consultation. Proposed by Wang Donglei and / or its designated third direction for NVC to buy the underlying equity firms, by Elec-Tech to Wang Donglei and / or its designated third party issued shares to buy the shares, the remaining equity at the same time to buy business to NVC cash. After the completion of the acquisition, Elec-Tech will become the standard enterprise controlling shareholders, but still maintain the independent position of NVC listed on the Hongkong stock exchange.

It is reported that NVC has previously announced that the NVC developed gradually transition from manufacturing enterprises to channel business strategy in 2018, with the intention of Elec-Tech and Mr. Wang Donglei directly or indirectly sell domestic lighting products manufacturing business, including but not limited to the total equity of Huizhou nvc.

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