Sequoia invested two and a half flying crane

 Network】 【HC food industry agreement on the abolition of gambling at the original price only sell

flying crane International (formerly known as American Dairy, 2010, changed its name to International flying crane, the .

announcement that Sequoia flying crane will be held repurchase 262.5 million shares, and four times in the coming year to pay a total of about Sequoia $ 63,000,000 and the corresponding interest .

flying crane and the red cedar on the gambling agreements between the concern for the industry. August 13, 2009, Sequoia invested $ 63,000,000 shares flying crane, which also committed the next two years of performance targets, or a premium of 130% will buy. Now look, flying crane scheduled for two consecutive years of performance targets not a foregone conclusion, the company has experienced cash flow pressure.

agreement came into effect on gambling yet? Why flying crane fails to repurchase 130% of the premium it? Sequoia shares for two years is Who are the beneficiaries of this cooperation it? Agreement on the ins and outs of gambling


regarding the purchase of shares, within the Sequoia have agreed to not make any description and explanation of all the information released to outside flying crane shall prevail. He told reporters that this behavior is consistent with the two sides reached agreement. Vice Chairman of newspaper then linked to the flying crane Liu Hua, the other side that do not want to respond on the matter.

In addition, this newspaper as an investor relations department to ask investors flying crane, the responsible person: Sequoia additional to the price of flying crane with a 1.5% annual interest. raise funds, the other American Dairy 210 million shares, totaling 10.5% of the shares, that time is flying crane small board Go board from the New York Stock Exchange.

public disclosure under the agreement, shares; from this financing agreement from the third year of implementation, such as the outstanding shares of American Dairy in 15 working days less than the closing price of the average price of 39 dollars per share, Sequoia Capital will be entitled to American Dairy All this part of the shares redeemed; if 2009 to 2010 flying crane to reach the agreement of the profit target, can the original subscription price to repurchase shares; if not to achieve profit objectives, the repurchase price must be 130% of the original subscription price . Agreement in accordance with the Sequoia,

Since then, the flying crane's share price does not appear anticipated climbing. The end of December 2009, flying crane stock price fell below $ 25; April 2010, trading below 20 dollars, then it is all the way to test a low; to August 25, 2010, flying crane fell all the way to the closing price of $ 6.64 record low.

Liu Hua told this newspaper confirmed that the 2009 does not meet earnings expectations, flying crane in accordance with additional ceiling to 52.5 million shares of Sequoia, now, hold American Dairy Sequoia Shares rose to 13%.