Rebirth of the investment era

Su Yu took the plan book, opened it and looked at it carefully.

I saw in the plan that Tianqi Lithium proposed to borrow 1.5 billion from Yuhang Investment and at the same time help Yuhang Investment acquire the remaining Talison shares. At the same time... in the plan, Tianqi Lithium The industry also proposed two relatively sensitive constraints.

The first condition.

The 1.5 billion loan will be paid quarterly in accordance with the long-term lending bank interest rate standard, and it is proposed that if 'Yuhang Investment' wants to carry out a debt-for-equity swap on this 1.5 billion loan, then the debt-for-equity swap plan will be submitted to the China Securities Regulatory Commission for review. From that date, interest will no longer be accrued on the loan.

The second condition.

In the entire attack on Knockwood's acquisition of Talison, Tianqi Lithium helped Yuhang Investment acquire the shares of Talison. If Yuhang Investment wanted to liquidate and exit the shares in the future, Tianqi Lithium would have the same price. conditions, and throughout the entire acquisition of Talison shares, Yuhang Investment must sign a concerted actor agreement with Tianqi Lithium to ensure that Talison’s controlling interest is on the side of Tianqi Lithium.

Su Yu didn't speak for a while after reading the plan agreement roughly drafted by Tianqi Lithium Industry.

Instead, he handed the plan to He Qian and Liang Bin beside him. After they read it...

Su Yucai continued to ask: "What do you two think?"

"There are no big problems with the plan as a whole," He Qian said. "Only the debt-for-equity swap, if we ask for it, what valuation will be used is not made clear."

"besides……"

"If you Tianqi Lithium successfully attacks Knockwood and acquires Talison."

"The value of internal assets has skyrocketed, and due to the pressure on borrowing interest and internal cash flow, before we proposed the debt-for-equity swap, we launched an additional share issuance plan, resulting in a significant increase in Tianqi Lithium's share capital and market value, which is very important for us who want to swap debt for equity. The intention is also extremely unfavorable, and the plan is not binding in this regard."

"Repeated issuance of additional shares and expansion of share capital will harm the interests of the original shareholders of the group." Liu Wei glanced at He Qian, admired her keen eyes and views, and responded, "So, we don't It will be easy to raise additional shares by issuing additional shares, and when we hand over the initiative of debt-for-equity swaps to you, it is equivalent to issuing an additional 1.5 billion market shares to you in the secondary market."

"As for the debt-for-equity swap mentioned by Mr. He, what valuation and stock price will ultimately be used."

“This is really not stated clearly in the plan.”

"But according to convention, the stock price of debt-for-equity swaps should also follow the pricing of private placement shares, that is, the average price of the secondary market for 20 trading days."

"According to President Su's previous proposal..."

"The initiative of debt-to-equity swap of 1.5 billion funds, regardless of the timing, or the choice of whether to transfer it or not, has been handed over to you."

"I think we are sincere enough!"

"As for the second restriction you put forward..." In Liu Wei's response, Liang Bin paused and asked, "Since it is a joint sniper attack, we have no objection to it in terms of concerted actors, but in terms of priority, I'm afraid it's worth debating that this is not an equal condition, and we at 'Yuhang Investment' are not obliged to abide by this condition. After all, it is you who need us, not us who need you, to ensure that 'Apocalypse Lithium' is right for 'Talison' 'The right to control is not our obligation as 'Yuhang Investment'."

"Mr. Liang, the priority issue will only take effect when you withdraw from the equity investment in 'Talison'." Liu Wei emphasized, "Moreover, under the condition of equal bids, our Tianqi Lithium Group I think this is a matter of mutual benefit and equality for both of us, and I don’t mean to disrespect you.”

"besides……"

“Mr. Liang said that in this round of investment cooperation, it is our ‘Tianqi Lithium Industry’ that needs your ‘Yuhang Investment’.”

"Actually, I don't think so."

"Investment is a two-way thing, and win-win is the ultimate goal."

"If Mr. Su feels that investing in our 'Tianqi Lithium Industry' and jointly attacking the 'Talison' project has no profit prospects and no investment value, I think... no matter how we persuade or what preferential conditions we offer, Su Never invest even a penny.”

"I didn't say that you, 'Tianqi Lithium Industry', meant to disrespect our 'Yuhang Investment'." Liang Bin emphasized, "I just want to clarify that since it is investment and cooperation, both parties should be equal in terms of obligations. We No corresponding restrictions have been put forward, and similarly, you should not have put forward so-called restrictions."

"The conditions we put forward are all based on President Su's suggestions." Liu Wei responded, "The proposal of debt-for-equity swap and the proposal of jointly attacking Knockwood were all advocated by President Su, and for our 'Apocalypse As for the Lithium Industry, we are actually cooperating with you in revising the plan."

"No matter from which aspect, I think this plan is sincere enough."

"We are in urgent need of funds, but we will not sacrifice the business initiative that the group should have for the urgent financing. If we, Tianqi Lithium Industry, cannot control Talison in the end, then... for us, this is A takeover to jointly snipe Knockwood just doesn’t make sense.”

"I hope Mr. Su, Mr. He and Mr. Liang will understand this."

"Of course, if Mr. Liang feels that there are still disputes over priority, you can also put forward your suggestions."

"I believe that since both of us have chosen to sit here today, we still have enough sincerity and intention to cooperate."

After hearing Liu Wei's words, Liang Bin thought for a while and said: "This item of priority can be retained, but there is a prerequisite, that is, if you want to exercise this right, buy back the shares of 'Talison' from us The price shall not be lower than the price at which we helped you acquire the shares of Talison."

Liang Bin said this, which is equivalent to passing on the company's possible risk of loss during the period of holding shares of "Talison".

This investment reduces the uncertainty of the future.

Under his premise, if 'Yuhang Investment' discovers a loss in the project in the future and wants to withdraw from this project, and Tianqi Lithium does not repurchase shares in accordance with this agreement, then it will lose its absolute control over 'Talison' The right to control, and if this agreement is exercised, it will be regarded as helping 'Yuhang Investment' bear the losses of this project.

in other words……

The condition proposed by Liang Bin is equivalent to giving the company a bottom line for loss protection in investing in this project.

Liu Wei frowned slightly when she saw Liang Bin's investment requirement of 'guaranteing capital'. She did not dare to agree easily, but turned her attention to Chairman Jiang Weiping.

Jiang Weiping coughed slightly and said: "Since Mr. Liang has made this request, let me tell you my thoughts. If you, 'Yuhang Investment', can agree to cooperate with our 'Tianqi' during the period of holding the shares of 'Talison', Lithium Industry has always maintained an agreement as a consistent actor, or will hold the voting rights of shares and fully authorize us, Tianqi Lithium Industry, then... we can follow what Mr. Liang said, when you want to withdraw, follow Buy it back at a price not lower than your purchase price.”

"only……"

Jiang Weiping paused and then said: "The period of time you hold the shares of 'Talison' must not be less than three years. Only then can we give you the commitment to protect your capital as Mr. Liang said."

Jiang Weiping expects that after the group acquires Talison.

Under the pressure of high debts and heavy interest rates, it will take at least two or three years to recover.

Therefore, he put forward the requirement that ‘Yuhang Investment’ should hold shares for no less than three years before it can exercise its power.

"What do you think, Mr. Su?" Seeing that Liang Bin didn't speak, Jiang Weiping couldn't help but turn his gaze to Su Yu, "If Mr. Su has no objections, then we will adjust the plan according to the additional conditions I just mentioned."

Su Yu knew that the shares of Talisen would only become more and more valuable in the subsequent era of the explosion of new energy vehicles, and there was no possibility of losing money at all. Therefore, he naturally had no objection to the condition proposed by Jiang Weiping and could not help but reply. Said: "Just do what Mr. Jiang said!"

"Okay!" Jiang Weiping was very appreciative of Su Yu's straightforwardness and responded.

Then, the right to speak was once again given to Vice President Liu Wei.

Seeing that the two parties had reached a consensus on this issue, Liu Wei once again mentioned several other differences that the two parties believed to be different. Among them... After the 'debt-for-equity swap', 'Yuhang Investment' became Tianqi Lithium Industry In the case of major shareholders, the proportion of voting rights and board seats.

After final mutual agreement...

Yuhang Investment will enjoy a board seat after the debt-for-equity swap for Tianqi Lithium is successful.

As for the proportion of voting rights, under the domestic basic system of equal shares and equal rights, it is natural to have as many voting rights as you own as many shares as you own. However, this voting right will remain between the two parties while Jiang Weiping continues to serve as the chairman of 'Tianqi Lithium Industry'. There is still an agreement between consistent actors.

That is, regardless of how many shares Yuhang Investment ultimately occupied in its investment in Tianqi Lithium.

Jiang Weiping's actual control over Tianqi Lithium Industry must not be shaken.

Of course, Su Yu's original idea was not to control Tianqi Lithium and become a "barbarian", so... he had no reason or motivation to oppose the ideas proposed by Jiang Weiping.

Finally, near noon.

The two parties have just agreed on all the differences in the plan. With the witness of both parties and the help of the company secretaries, lawyers and other auxiliary personnel of both parties, a preliminary investment and cooperation agreement was signed. Generally speaking... the results of the discussions between the two parties Here, in addition to changes in details, there is a direct borrowing limit of 1.5 billion, as well as the agreement that Yuhang Investment can choose to 'debt-for-equity swap' at any time, as well as Yuhang Investment's investment and Tianqi Lithium's help in acquiring the remaining shares of 'Talison' There are still no major changes in these basic frameworks.

After signing the preliminary agreement contract...

Su Yu and the core members of the venture capital department, as well as the core members of Tianqi Lithium Group who came to visit, had lunch together and returned to the company just before 3 p.m.

"Mr. Su, this Miss Delina has been waiting for you for a long time."

Su Yu had just returned to the company, and before he could take a breath, the recruitment director of the human resources department hurriedly reported and handed him a resume: "Miss Delina said that it was Mr. Su who recommended her to come to the company for an interview. I have read the resume, and Director Qin has also read it, and they both think she is quite suitable for the position of 'special assistant'."

Su Yu took the resume and took a look at it.

This time, the resume prepared by Delina was much more normal. She is the assistant general manager of HTB, a foreign investment institution. She is proficient in twelve languages ​​and is proficient in various office software. Of course, it also comes with a diploma from a famous foreign university. , various honorary certificates, etc.

"Age 22?" Su Yu asked in surprise.

The recruiting director coughed lightly and said, "It seems a little too young, but I checked according to the contact information she gave me, and the resume is not fake."

"Okay!" Su Yu accepted the resume, "Let her come in."

The recruitment manager responded, and then called Delina, who was waiting in the rest area, into Su Yu's office.

Su Yu glanced at Delina, who was wearing glasses and professional attire, deliberately pretending to be mature, and said, "You change your identity very quickly!"

"It's just an identity." Delina said.

Su Yu nodded slightly: "Indeed, this is nothing to you. The 'special assistant' you applied for has a lot of work content. Xiaoling is currently in charge. Since you have applied for this job, then follow it first She studied for half a month and became familiar with the work content. If you want to stay with me, you should start with these jobs first. Oh... By the way, what are your requirements in terms of salary and benefits?"

Delina thought for a while and said, "Just watch it!"

"Then follow the recruitment conditions." Su Yu said, "The salary of a special assistant is not low. Plus the monthly reimbursement, monthly, quarterly, and annual bonuses, it will be enough for you to live in Yuhang."

"Yes!" Delina nodded, not paying much attention to the salary.

After all, she was not money-hungry in nature, she just needed a job to cover up her identity, stay by Su Yu's side, and use Su Yu's hand to plan some future things.

"Since you have no objection, let's start working from today!" Su Yu said, "Go to Secretary Li to report, and she will tell you what work to do."

"Okay!" Delina responded.

Su Yu opened the door to his office and was about to walk out when he suddenly bumped into Lin Antu, director of the company's market intelligence department, who was about to knock on the door and enter.

Lin Antu looked at the blond girl in front of him who suddenly came out of Su Yu's office. He was stunned for a moment before coming back to his senses. He nodded slightly and walked sideways into Su Yu's office. Then he closed the door of the office and reported to Su Yu. Said: "Mr. Su, according to market news, the country has made new moves in the direction of military reform, as well as the direction of the reform of state-owned enterprises and state-owned assets. I heard that it is necessary to promote military-civilian integration and expand the mixed reform of state-owned enterprises and state-owned assets. , attracting private capital to enter, I think there...may be a relatively large investment main line!"