On January 17, Yango Group Co.Ltd(000671) (hereinafter referred to as ” Yango Group Co.Ltd(000671) “) issued a suggestive announcement on the passive reduction of shares held by controlling shareholders.
According to the announcement, during the period from December 7 to December 10, 2021, Yango Group Co.Ltd(000671) controlling shareholder Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”) and Fujian Kangtian Industry Group Co., Ltd. (hereinafter referred to as “Kangtian industry”) acting in concert as the controlling shareholder, because the maintenance guarantee proportion of some accounts is lower than the closing line, Passive reduction of about 41.4038 million shares of the company through centralized bidding, accounting for 0.99% of the total share capital of the company.
After the above reduction, sunshine group holds Yango Group Co.Ltd(000671) about 675 million shares, accounting for 16.31% of the total share capital; Kangtian industry holds Yango Group Co.Ltd(000671) about 390 million shares, accounting for 9.42% of the total share capital.
The announcement shows that the reduction of holdings through centralized bidding is the passive reduction of holdings by sunshine group and persons acting in concert. Sunshine Group and persons acting in concert have been actively communicating and coordinating with creditors, and carried out debt extension, fund-raising and other relevant measures according to the requirements of the pledgee, so as to reduce the adverse impact caused by the passive reduction of shares.
Yango Group Co.Ltd(000671) said that the passive reduction will not have a material impact on the corporate governance structure and sustainable operation, nor will it directly lead to the change of the company’s control.
