LeTV.com, a LeTV Sports company, introduced investors in April 2016 and signed "B-Shareholder Agreement" and "B-Funded Financing Agreement." More than 40 new investors have increased their capital in the form of money and debt capital swaps. 7.833 billion yuan. The B-Circular Shareholder Agreement sets out the terms for the acquisition of shares of the original shareholders (LeTV, Lele Interactive Sports Culture Development (Beijing) Co., Ltd., Beijing Pengyi Asset Management Center (Limited Partnership)). The Company has recently received the "Arbitration Award", the applicant has filed an application for an arbitration award of the original shareholders, 240 million yuan, of the new investor Beijing Pusu, Xiamen Jiayu and Tianhong Innovation.
In the LeTV sport, new investors, such as A + and B rounds, have filed an arbitral award with the company, according to preliminary estimates, with Lele Interactive and Beijing Pengji, which can take on commitments to buy around 11 billion yuan. The Company reserves the right to continue to comply with the laws of the relevant regulatory authorities and related entities, such as, for example, reverse acquisition, litigation, and other liabilities and liabilities that the Company may have.
Source: Shanghai Stock Exchange APP · Chinese Securities Market