February 6 News LeTV announcement announced that the lifting of the number of restricted shares of 213,285,936 shares, accounting for 5.35% of the total share capital; the actual tradable shares of 213,285,936 shares, accounting for 5.35% of total share capital.
At the same time, the restricted shares listed on the date of circulation February 8, 2018.
The following is the full text of LeTV announcement:
Music Watch more than 5% restricted shares lifted: Zhang Jianping and three funds have been over-3.6 billion Fukui
Music has been continuous limit of 10, and ushered in the 213 million shares of restricted shares lifted.
On the evening of February 6, LeTV (300104) released a public announcement that the number of restricted shares was 213 million shares, accounting for 5.35% of the total share capital of the Company.
The restricted shares were lifted in August 2016, the three organizations involved in the music network to increase the postal fund, Harvest Fund, the Fund and Niu Sanzhang Jianping shares held.
August 2016, LeTV non-public offering of new shares of 106 million shares, the issue price of 45.01 yuan / share (re-rights after 22.5 yuan / share), the restricted period for the new shares 12 months from the date of listing, the total raised The total funds of 4.8 billion.
Among them, 39.1 million shares were allocated to Finance Fund Management Co., Ltd. with an allocated amount of 1.759 billion yuan; Zhang Jianping was allocated 24.88 million shares with an allotment amount of 1.12 billion yuan; Harvest Fund Management Co., Ltd. was allocated an amount of 959 million yuan for allotment of shares 2132 million shares; China Post Venture Fund Management Co., Ltd. was allocated 959 million yuan, the number of shares were 21,320 shares.
However, just two months after the end of this fly public offering, the TV system suffered a capital chain crisis and its share price dropped.
Moreover, the aforesaid non-public issuance of stock lock-up period would have ended in August 2017 but since April 2017, LeTV has suspended a nine-month suspension as a result of the injection of LeTV film.
Before the suspension, the music video stock price of 30.68 yuan / share. In the meantime, due to the LeTV network to the shareholders of capital stock for every 10 shares 10 shares, LeTV shares ex-dividend of 15.33 yuan / share, the number of shares to be increased by 2016 into 213 million shares, the increase of the price after the ex-dividend 22.5 yuan / share.
After the announcement of the termination of the major assets reorganization injected into the music industry, the music video network resumed its trading suspension on January 24, so far there have been 10 consecutive daily limit positions with no signs of loosening. On February 6, the price of LeTV.com was 5.36 yuan / Unit, compared with the fixed increase of 22.5 yuan in 2016 / share price, has dropped 76%.
Specifically, China Post Fund and Harvest Fund holdings of 42,657,000 shares, both floating Fukui 730 million yuan, Tradable Fund holdings of 7820 shares, floating deficit of 1.34 billion yuan, 49.767 million shares held by Zhang Jianping, floating Loss of 850 million yuan. The four floating losses totaled 3.65 billion yuan.
According to the LeTV announcement, after the lifting of the restriction on the 5% restricted shares, the proportion of the total circulating shares traded by Lotvision will be reduced from 29.59% to 24.24%, of which 22.54% will be the top management locked shares.
Despite the lifting of the ban, these institutions and individual investors are still firmly locked by Music Watch.