On January 10, Yango Group Co.Ltd(000671) (000671. SZ) announced that due to the failure to raise funds in time, the controlling shareholder Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”) and related parties planned to terminate the plan to increase the shares of the company.
The announcement shows that on January 10, Yango Group Co.Ltd(000671) held the 31st meeting of the board of directors, considered and adopted the proposal on the termination of the implementation of the share increase plan by controlling shareholders and related parties, and the related directors avoided voting. The above proposal needs to be submitted to the general meeting of shareholders for deliberation.
According to the plan, sunshine group and its related parties intend to increase the shares of the company by no less than 1% and no more than 2% of the total share capital of the company within 12 months from December 30, 2020 (calculated based on the total share capital of the company during the implementation period of the increase).
The announcement said that after the disclosure of the above shareholding increase plan, affected by major adverse changes in the development of the real estate industry and the financial market environment, sunshine group is also facing challenges such as intensified industry competition and continued pressure on profits. Due to the high pledge proportion of the company’s shares held by sunshine group and its related parties, limited financing channels, centralized due payment of debts (some debts are even required to be repaid in advance), the net outflow of funds is large, resulting in the failure to raise the funds required for the increase of the company’s shares held by sunshine group and its related parties in time, and the inability to continue to implement the increase plan.
In 2021, sunshine group and its related parties increased their holdings of Yango Group Co.Ltd(000671) four times, with a total of 23962100 shares, accounting for 0.58% of the total share capital on the date of issuance of this document, with an increase of 139 million yuan.
On January 29, 2021, Yango Group Co.Ltd(000671) actual controller and chairman of the board of directors Lin Tengjiao increased his holdings of 3.6 million shares of the company through centralized bidding, with an average increase price of 6.10 yuan / share and an increase amount of 21.9614 million yuan. On February 3, 2021, sunshine group increased its holdings of 2.7721 million shares of the company, with an average increase price of 6.08 yuan / share and an increase amount of 16.8669 million yuan. The way of increasing holdings is centralized bidding transaction.
On April 30, 2021, sunshine group and its related parties increased their holdings of 11 million shares of the company, with an average increase price of 5.68 yuan / share and an increase amount of 62.5163 million yuan. The increase mode is centralized bidding transaction. On May 6, 2021, sunshine group and its related parties increased their holdings of 6.59 million shares of the company, with an average increase price of 5.68 yuan / share and an increase amount of 37.4324 million yuan. The increase mode is centralized bidding transaction.
(source: surging News)
