According to the judgment of the first instance, from May to October 2015, the asset manager of Everbright baodexin new third board No.1 asset management plan (hereinafter referred to as Everbright No.1 asset plan) purchased 218000 shares of Chongqing Junling Energy Co., Ltd. (hereinafter referred to as Junling company) through the new third board trading system through 33 centralized bidding, with the price of 10.7 yuan to 13.1 yuan per share. On July 15, 2015, Everbright No.1 asset plan also participated in the fixed increase project of non-public issuance to specific objects of Junling company, purchased 400000 shares of Junling company at the price of 6.5 yuan per share, and paid 2.6 million yuan. Everbright baodexin said that on February 28, 2019, Everbright No.1 asset plan sold 24000 shares, so far (at the time of the court session), Everbright No.1 asset plan holds 594000 shares of Junling company.
On March 26, 2019, Everbright Prudential signed an equity transfer agreement with Zhou Jun on behalf of Everbright No.1 asset plan. Article 2 (1) of the agreement states that Everbright baodexin agrees to voluntarily transfer 594000 shares of Junling company held by it to Zhou Jun at the price of 1.5 yuan per share according to the conditions stipulated in the agreement, with a total price of 891000 yuan. Zhou Jun agrees to transfer the shares at this price. According to Article 2 (2) of the agreement, Zhou Jun agreed to pay the share transfer price to Everbright Prudential through the new third board trading system before April 1, 2020, but Zhou Jun did not pay the share transfer payment to Everbright Prudential before April 1, 2020. Article 8 (2) of the agreement stipulates that if Zhou Jun fails to pay the share transfer price on time in accordance with the provisions of Article 2 of the agreement, he shall pay a penalty of 1 / 1000 of the delayed part for each day of delay Article 10 states that all disputes arising from or in connection with the performance of the agreement shall be settled through friendly negotiation. If the negotiation fails, either party has the right to sue to the court for settlement.
Everbright Prudential believes that due to Zhou Juns negative performance of the share transfer agreement, the agreement of both parties on jointly handling the share transfer matters has been impossible to realize, so it applied to the court to order Zhou Jun to directly pay 891000 yuan of equity transfer payment to Everbright Prudential.
The court of first instance also held that Zhou Juns negative performance of the share transfer agreement was a breach of contract and supported Everbright Prudentials above request. However, the court of first instance also pointed out that if Zhou Jun fulfilled all or part of the payment obligations, Everbright Prudential should cooperate with Zhou Jun to handle the change and transfer procedures of shares corresponding to the payment price. As for the liquidated damages for delay in payment, the agreement of both parties to calculate the liquidated damages for delay in payment at the interest rate of one thousandth of a day is the expression of the true intention of both parties, which supports the claim of Everbright Prudential.
Intervene at the top of the market
In April and may 2015, the new third board market was in a hot stage. The new third board products were issued one by one, and many products were in a state of rush purchase. The quotations of some companies in the new third board were one price per day. Subsequently, the stock prices of most companies in the new third board market continued to decline, and many new third board products were also deeply embedded in them, which was difficult to get rid of. Judging from the above prosecution, the investment of Everbright No.1 asset plan is also one of them. It almost intervened at the peak of the new third board market, and then set up a set for many years.
In terms of investment amount, 218000 shares were purchased through 33 centralized bidding, with the price of 10.7 yuan to 13.1 yuan per share. Even at the price of 10.7 yuan, 218000 shares invested more than 2.3 million yuan. In addition, it purchased 400000 shares of Junling company at the price of 6.5 yuan per share, and paid 2.6 million yuan. The sum of these two parts is close to 5 million yuan, and may even exceed 5 million yuan.
After holding for many years, he was prepared to transfer to the major shareholders at the price of 1.5 yuan per share. During this period, the company did not have any transfer plan. As can be seen from the number of shares held, the transfer price reached by both parties was only 891000 yuan. Even with the 24000 shares sold before the transfer, the amount that can be recovered is about 900000 yuan. In other words, less than 20% of the total investment of about 5 million yuan can be recovered in the end.
Extended reading public offering funds set three records and entered an era of 18 trillion. Public funds are optimistic about A-share cross-year market layout, liquor and big finance 4445, three-year private placement ranking 4, yield more than 10 times. Source: daily economic news editor in charge: Ren Hui_ NBJ9607