Ruyi Group Intends To Issue Shares To Buy Rb And Ig.

Ruyi group (002193) announced in the evening of July 8th, the company intends to issue shares to Shandong through the purchase of its 74.36% stake in Ruyi Technology (Hongkong); intends to issue shares to Ruyi fashion, China XinDa, Shandong Tatsu to buy its 60% stake in Jining Ruyi brand. The issue price is 7.78 yuan / share. Due to the fact that audit and evaluation have not yet been completed, the specific transaction price has not yet been determined.

The underlying assets of the company's Jining Ruyi brand and Ruyi Technology (Hongkong) are all shareholding platform companies, whose core assets are 51.38% stake in Li bang and 100% stake in the company. The two assets were acquired by Ruyi group affiliated parties in 2018 and 2017 respectively.

Among them, Li Bang holdings is a high-end men's clothing retailer, mainly engaged in retail business of light and luxurious men's clothing in China and Europe. Its main business is CERRUTI 1881, GIEVES & HAWKES, KENT & CURWEN and DURBAN four international men's wear brands. As of December 31, 2018, there were 241 Direct stores in China, and 12 direct outlets in Europe. These stores are located in the prime shopping centers and department stores in prime locations of major cities in the world to maintain brand image and attract target customers.

The main business of the company is the design, brand operation and sales of high-end brand clothing and related products. Since its establishment in 1851, the company has always been committed to creating a life culture brand combining high-end clothing design with British style. The stores are mainly direct shops, and some are franchised stores and store counters.

The target company's equity control indirectly controls the international high-end fashion brands such as CERRUTI 1881, GIEVES & HAWKES, KENT & CURWEN, DURBAN, Aquascutum and so on. The business scope of the listed companies will extend from the wool spinning line, fabric and clothing production to the high value-added fashion brand operation business, and stimulate the brand vitality through the development of new retail areas, such as smart store network, social business, high-end brand private customization, etc., so as to give full play to the synergy effect of textile "smart" and fashion brand plates, extend the development space of the industrial chain, and realize the transformation and upgrading of the existing textile "intelligence" to high-end fashion brand operation, and become the leading high-end fashion brand operator, enhance the company's profitability and market share, and create greater value for all shareholders. The company said that through this transaction, it will be held through At the same time, after the completion of this transaction, the assets and income scale of listed companies will be significantly improved, and the risk resistance ability of listed companies will be further enhanced.

The company said that the transaction constitutes a major asset restructuring, but also related transactions, but does not constitute a restructuring listing. It is worth noting that in the case of related directors' avoidance of voting, three directors of four voting members voted in favour of the relevant bills. Wang Linying, director of the board, voted against the relevant trading bills. He believed that the shares issued by the issuing stock were relatively low in price. Statistics show that Wang Linying is currently the two senior manager of assets management of Shandong branch of China Eastern asset management Limited by Share Ltd and director of Shandong Ruyi wool spinning Refco Group Ltd.