Citation source: Zhitong Finance APP
According to the announcement issued by Lao Heng He on August 3rd, the controlling shareholders (Key Shine and Chen Weizhong) of the company confirmed that discussions on possible cooperation were still going on on August 3rd, but due to the spread of public health incidents and temporary ban, there was no substantial progress in possible cooperation, so no formal or legally binding agreement was reached on possible cooperation.
According to the announcement, the controlling shareholder is preparing evidence against the temporary injunction and making an appointment with the court to determine the date of the next substantive hearing of the temporary injunction on August 4, 2020. Since the temporary injunction is still in effect, if the court cancels the temporary injunction or modifies the terms of the temporary injunction or makes any other order to allow the controlling shareholder to sell, the controlling shareholder can only sell its equity in the company.
After the substantive hearing, the court may cancel, confirm or modify the terms of the temporary injunction, or make any other order that the court deems appropriate.
The introduction of strategic cooperation has a long history.
If you just read this announcement, you may be confused. To understand what "possible cooperation" and "court injunction" mentioned in Lao Henghe's announcement are, we have to start from April 3, 20 19.
At that time, there were market rumors that Chen Weizhong, the chairman of Laohenghe, was cooperating with the consultant to sell more than 49% of the company's shares. The consultant has contacted potential buyers including Haitian Ye Wei (603288). SH) and Lee Kum Kee of Hong Kong.
Regarding the market rumors, Lao Yokogawa issued a clarification announcement on April 3, saying that on the date of the announcement, Chen Weizhong had appointed a financial consultant to find interested investors or strategic partners (possible cooperation) for the company's long-term development and interests. As of the date of publication of this report, no final or legally binding agreement or memorandum of understanding has been reached on possible cooperation. At this stage, Chen Weizhong is not sure whether there will be possible cooperation, and if so, he is not sure how to proceed.
Although Lao Henghe did not say much about "possible cooperation" in the clarification announcement, the enthusiasm of the market to be Lao Henghe was completely ignited, and the company's share price rose by more than 34% in the four trading days from April 3 to April 9.
2065438+On May 3rd and June 4th, 2009, Lao Yokogawa announced that Chairman Chen Weizhong had selected a number of interested investors or strategic partners, and Chen Weizhong planned to hold consultations with a number of interested investors to continuously boost the stock price. By the close of June 18, 2065438, the company's share price had reached HK$ 5.5 15, which was over 80% higher than the closing price of HK$ 3.006 on March 2 1 day.