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Tuesday 14 October, 2014 | TEXT_NEWS_RSS_FEED

CREE premium of 7.52% Warrants behind Ronda

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Ronda shareholders meeting convened on the 14th, passed CREE shares case, although Lunda stock market index fell by the impact, the share price fell back before the wave lows, but CREE adhere to 30 yuan per share (NT, the same below, yuan about 6.16 yuan) a premium subscription Lunda private placement of common shares, the undersigned shareholder commitment displayed behind Ronda determination.

Ronda, CREE on August 27 announced the alliance shares the case, then Lunda shares still stand 30 yuan, the day's closing price of 30.5 yuan, close to the cost of CREE shares. However, after entering the third quarter, the industrial economy facing adjustment, TAIEX weighted index fell below in line, the impact of Lunda price 34 yuan from a high point reversal, the 14th closing price of only 27.9 yuan, from the price of shares in late August announced , spread over 7%.

Although the share price volatility, but Lunda announcement yesterday, CREE is still 30 yuan per share price of shares Ronda, Ronda will handle 8,300 million private placement of common stock to introduce CREE funds, 2.49 billion yuan (about 501 million yuan RMB) end funds before place, CREE Lunda later will become a major shareholder holding 13%, the proportion of shareholding after AUO 14.51%, CREE will be at the next election of directors and supervisors, master a Xi Directors seats.

Control Ronda yesterday's closing price, CREE equivalent to a premium of 7.52% of the private placement of ordinary shares Lunda scored.

Ronda said yesterday, CREE value is Ronda long-term competitiveness, and a commitment to long-term cooperation, the shares will not be subject to short-term stock price fluctuations.

Ronda due to the introduction of long-term partners, to bring stability to the low power OEM orders, coupled with the long-term demand for LED lighting, increase capital spending this year by as much as 50%, the size of the point of view 3 billion yuan (about 604 million yuan RMB), for the calendar year the second highest on record.

Before Ronda also proceed, BEOL expansion, packaging capacity surge 40% before the end of 3rd quarter began production capacity gradually released, front epitaxial wafers, chip production capacity is also planned next year before the expansion from 40 to 50 percent, for a significant expansion over the years rare.

Ronda operating temperature significantly this year, June to August consecutive record high revenue, total revenue of the entire third quarter topped 4 billion yuan (about 805 million yuan RMB), rose 10 percent compared with the second quarter, corporate estimated Ronda earnings per share are expected to challenge this year, more than 1 yuan.

CREE, compared with US-based LED manufacturers, LED chip as the main battleground in a long time, been actively towards the downstream lamps, components transformation, related revenue share has risen from 30 to 40%, the operating ratio is important beyond the LED chip just around the corner.

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