Three shareholders of Hongyang Energy intend to transfer 9.6percent of their shares or cut meat and leave the market by liquidation.

category:Finance
 Three shareholders of Hongyang Energy intend to transfer 9.6percent of their shares or cut meat and leave the market by liquidation.


It is reported that the three shareholders are the same actors, and the proportion of the three shareholdersshares is 4.81%, 2.4% and 2.4%, respectively. All the shares to be transferred are circulating shares with unlimited selling conditions, which also means that the three shareholders intend to liquidate the transfer.

Among the collection conditions set by the three shareholders, there are two key clauses. One is that the intentional transferee has a high level of integrity, strong capital strength, legitimate and reliable sources of funds, and good commercial credit. The intentional transferee also needs to ensure that the transfer price of all shares is paid in cash at the prescribed time.

Second, the intentional transferee should be a single legal entity and be independent and simultaneously transferable all the shares to be transferred by Jintian Investment, Jinrui Investment and Jinqiang Investment. This public solicitation does not accept the joint transferee application of two or more subjects.

In addition, the intentional transferee shall pay 50 million yuan as the intentional deposit, sign the Share Transfer Agreement with three shareholders within two working days after being notified as the final transferee, and pay all the transfer price to the designated accounts of three shareholders at one time within three working days after signing the Share Transfer Agreement. Intention margin automatically offsets the transfer price of the equivalent amount.

According to the plan, the public solicitation period is 10 trading days, from August 14, 2019 to August 27, 2019. The intentional transferee shall complete the registration by submitting the application for transferee and paying the intentional deposit during the public solicitation period.

The last reduction of Hongyang Energy by three shareholders dates back to November 2016, when a total of 62.46 million shares were reduced by three shareholders, with a total reduction ratio of 4.68%, and the reduction price range of 13.35 yuan/share-14.6 yuan/share.

Or cut meat out

In 2015, Hongyang Energy completed a major asset restructuring, purchasing 100% of Shenyang Coking Coal by issuing shares plus cash acquisition. It is in this restructuring that the above three shareholders became shareholders of Hongyang Energy by participating in private issuance. At that time, the issuance price was 6.72 yuan per share.

It is worth mentioning that the closing price of Hongyang Energy is 4.17 yuan per share on August 13. If we only consider the 127 million shares held by three shareholders that have not yet been reduced, this part of the shares has obviously caused losses to the three shareholders.

In the announcement of intent solicitation, three shareholders said that the price of the transferred shares would be determined by the transferor on the basis of comparing the quotations of the transferees of different intentions, on the basis of conformity with the relevant laws, regulations and normative documents on the transfer of shares by agreement of listed companies and in accordance with the principle of price priority.

The reporter called the contact person of the intent to solicit matters, the other side also emphasized to the reporter that the transfer will take the way of getting the higher price if all the qualifications of the intent recipient are in line; in view of the current stock price of Hongyang Energy is lower than the issue price in 2015, the person said that the price of the transfer is not. The price of private offering of 6.72 yuan/share is taken as a reference.

In addition, Hongyang Energy said that within the time limit stipulated by the public solicitation, there is uncertainty whether it can solicit qualified transferees of intention and whether the transfer of shares can finally be completed. Reporters asked how the three shareholders would respond if the appropriate transferee was not solicited within the time limit; the above-mentioned people said that if not solicited, the three shareholders would not forcibly transfer shares. Judging from the trend of stock price, Hongyang Energys share price rose sharply from April to May this year due to the markets pursuit of the concept of hydrogen fuel cell. It is reported that Hongyang Energy Subsidiary Liaoning Hongyang Capital Investment Co., Ltd. participates in Shenzhen Guohydrogen New Energy Technology Co., Ltd. However, Hongyang Energy recently received the decision on administrative supervision measures of Liaoning Securities Regulatory Bureau. Through on-site inspection, the Liaoning Securities Regulatory Bureau found that there were defects in the internal control of Hongyang Energy, which was manifested in the non-operational occupancy of funds by the controlling shareholder Shenyang Coal Group. Source: Responsible Editor of Securities Times: Yang Bin_NF4368

In addition, Hongyang Energy said that within the time limit stipulated by the public solicitation, there is uncertainty whether it can solicit qualified transferees of intention and whether the transfer of shares can finally be completed. Reporters asked how the three shareholders would respond if the appropriate transferee was not solicited within the time limit; the above-mentioned people said that if not solicited, the three shareholders would not forcibly transfer shares.

Judging from the trend of stock price, Hongyang Energys share price rose sharply from April to May this year due to the markets pursuit of the concept of hydrogen fuel cell. It is reported that Hongyang Energy Subsidiary Liaoning Hongyang Capital Investment Co., Ltd. participates in Shenzhen Guohydrogen New Energy Technology Co., Ltd.

However, Hongyang Energy recently received the decision on administrative supervision measures of Liaoning Securities Regulatory Bureau. Through on-site inspection, the Liaoning Securities Regulatory Bureau found that there were defects in the internal control of Hongyang Energy, which was manifested in the non-operational occupancy of funds by the controlling shareholder Shenyang Coal Group.