Lu Tongshis original Allies push forward the reduction plan

category:Finance
 Lu Tongshis original Allies push forward the reduction plan


In order to ensure the stability of the equity structure and control right after listing, on November 5, 2012, the controlling shareholder Wuxi Jinghong, the actual controller Jia Qing and Huide investment, Liu Yi, Qiu Yibing, Gu Jiming and Yin guanmin signed the agreement on concerted action, which agreed to keep concerted action when the board of directors and the general meeting of shareholders exercise their voting rights. The agreement is valid until the end of 36 months from January 1 of the next year when the company is listed.

On October 18, 2016, Lutong vision letter landed on GEM. According to the agreement, the concerted action relationship between the parties expires on January 1, 2020. After consultation, the above-mentioned concerted actors decided not to renew the agreement and terminate the relationship of concerted action.

Up to now, Huide investment, Liu Yi, Qiu Yibing, Gu Jiming and Yin guanmin hold 7%, 6.62%, 6.18%, 5.23% and 4.1% shares.

The company said that after the termination of the concerted action relationship, Jia Qing held 8.37% of the shares directly, and indirectly controlled 10.46% of the shares through Wuxi Jinghong, controlling 18.83% of the shares in total, which is still the actual controller of the company.

Enlarge the limit of holding reduction

On the second day after the cancellation of the concerted action relationship, Huide investment, Liu Yi, Qiu Yibing, Gu Jiming and Yin guanmin simultaneously issued a plan to reduce their holdings.

Industry insiders said that the lifting of the concerted action relationship enlarged the amount of reduction of the original concerted action. According to the detailed rules for the implementation of share reduction by shareholders, directors, supervisors and senior managers of listed companies of Shenzhen Stock Exchange (revised in 2017), the proportion of large shareholders to reduce their holdings through centralized bidding and block trading shall not exceed 1% and 2% respectively within any 90 natural days, but the large shareholders and concerted actors shall be combined when using the above quota. According to this calculation, if the shareholders to be reduced this time still maintain the same action relationship, they should share the reduction amount, that is, the cumulative reduction proportion within 90 natural days should not exceed 3%; and after the cancellation of the same action relationship, the five original concerted actors will respectively enjoy their respective reduction amount, which is equivalent to the increase of the reduction amount by 5 times.

According to the plan, Huide investment, Liu Yi, Qiu Yibing, Gu Jiming and Yin guanmin plan to reduce their holdings by 2%, 4%, 2%, 1.31% and 1.05% respectively from January 31, 2020 to July 31, 2020.

The reporter of securities times u00b7 e company noticed that Gu Jiming, as the chairman of the board of supervisors of the company, should not reduce his shareholding by more than 25% of the total number of shares each year. It is estimated that the number of shares Gu Jiming plans to reduce this time is just 25% of the total number of shares he holds, which is a top tier reduction. It is worth mentioning that this is not the first reduction plan issued by the relevant shareholders. As early as October 21, 2019, within 5 days after the expiration of the 36 month lock period of the restricted shares held before the IPO, the shareholders proposed to reduce their holdings issued the reduction plan as soon as possible, and had carried out a wave of reduction in December 2019. According to the data, the shareholder Liu Yi reduced his shareholding by 0.11% from December 12 to 27, 2019; Qiu Yibing reduced his shareholding by 0.09% from December 19 to 31, 2019; Yin guanmin reduced his shareholding by 0.087% on December 30, 2019. Source: responsible editor of Securities Times: Zhang Meiyu nf2100

The reporter of securities times u00b7 e company noticed that Gu Jiming, as the chairman of the board of supervisors of the company, should not reduce his shareholding by more than 25% of the total number of shares each year. It is estimated that the number of shares Gu Jiming plans to reduce this time is just 25% of the total number of shares he holds, which is a top tier reduction.

According to the data, the shareholder Liu Yi reduced his shareholding by 0.11% from December 12 to 27, 2019; Qiu Yibing reduced his shareholding by 0.09% from December 19 to 31, 2019; Yin guanmin reduced his shareholding by 0.087% on December 30, 2019.