Jiangnan Red Arrow Releases Acquisition of Central and South Diamond Draft

Jiangnan Red Arrow has made new progress in the acquisition of Zhongnan Diamond. The company recently disclosed the draft of the relevant fixed-income acquisition and fundraising.

According to the announcement, the transaction price of 100% equity of Zhongnan Diamond is 3.97 billion yuan, the non-public offering price is 9.68 yuan/share, and the number of shares issuance is 410 million shares. The total amount of matching funds raised by the company does not exceed 1.323 billion yuan, and the issuance price of non-public offering matching funds is not less than 9.68 yuan/share. The pricing principle is for inquiry and the number of shares issued does not exceed 137 million shares.

After the completion of the transaction, Jiangnan Red Arrow's 2012 and 2013 annual net profit attributable to owners of the parent company were 339 million yuan and 380 million yuan respectively.

The original shareholders of Zhongnan Diamond also set a performance compensation agreement with the listed company. According to the agreement, in the current fiscal year of the completion of the transaction and the subsequent two fiscal years, if the actual profit of Zhongnan Diamond does not reach the promised profit, the listed company has the right to buy back and cancel the counterparty at the total price of 1 yuan. Holding shares of listed companies for performance compensation. According to statistics, during the above compensation period, the total amount of Zhongnan Diamond's committed profits in 2013, 2014 and 2015 was 1.264 billion yuan.

It is reported that Zhongnan Diamond is the leading enterprise in the domestic superhard material industry and the largest synthetic diamond manufacturer in the world.

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