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Hot Stocks
China XD Plastics trading resumes  08:00
06/15/20
06/15
08:00
06/15/20
08:00
CXDC

China XD Plastics

$1.06 /

+0.134 (+14.47%)

 
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CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

Hot Stocks
China XD Plastics enters definitive merger agreement for going private deal » 07:36
06/15/20
06/15
07:36
06/15/20
07:36
CXDC

China XD Plastics

$1.06 /

+0.134 (+14.47%)

China XD Plastics…

China XD Plastics announced that it has entered into a definitive Agreement and Plan of Merger with Faith Dawn Limited and Faith Horizon, a Nevada corporation and a wholly-owned subsidiary of Parent. Pursuant to the Merger Agreement, Parent will acquire all of the outstanding Common Shares of the company for a cash consideration equal to $1.20 per share. This amount represents a premium of 25% over the company's closing price of 96c per share as quoted by NASDAQ Global Market on May 7, the last trading day prior to the date that the company received a non-binding "going private" proposal from members of the Buyer Group. The Merger Consideration also represents an increase of approximately 9.1% over the $1.10 per share initially offered by the Buyer Group in their initial "going-private" proposal on May 7, and a premium of approximately 15.4% over the company's closing price of $1.04 per share on June 12. The merger, which is currently expected to close during the third quarter, is subject to various closing conditions, including the adoption of the Merger Agreement by the company's stockholders.

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CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

Hot Stocks
China XD Plastics trading halted, news dissemination  07:30
06/15/20
06/15
07:30
06/15/20
07:30
CXDC

China XD Plastics

$1.06 /

+0.134 (+14.47%)

 
ShowHide Related Items >><<
CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

CXDC China XD Plastics
$1.06 /

+0.134 (+14.47%)

Hot Stocks
China XD Plastics special committee engages financial advisor, legal counsel » 05:19
05/15/20
05/15
05:19
05/15/20
05:19
CXDC

China XD Plastics

$0.93 /

+0.0296 (+3.29%)

China XD Plastics…

China XD Plastics announced that the special committee consisting of independent directors of its board, formed to consider, among other things, the previously announced preliminary non-binding "going private" proposal received by the board on May 8, has retained Duff & Phelps as its financial advisor and Hogan Lovells as its legal counsel to assist it in its review and evaluation of the proposed transaction.

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CXDC China XD Plastics
$0.93 /

+0.0296 (+3.29%)

CXDC China XD Plastics
$0.93 /

+0.0296 (+3.29%)

Hot Stocks
China XD Plastics forms special committee to evaluate going private proposal » 06:40
05/11/20
05/11
06:40
05/11/20
06:40
CXDC

China XD Plastics

$0.90 /

-0.0401 (-4.27%)

China XD Plastics…

China XD Plastics announced that its board of directors has formed a special committee consisting of three independent and disinterested directors, Linyuan Zhai, Huiyi Chen and Guanbao Huang, with Huiyi Chen serving as the chairperson of the special committee, to consider and evaluate the previously announced preliminary non-binding "going private" proposal received by the board on May 8. The special committee has been authorized by the board with the power to retain independent advisors, including independent legal and financial advisors, to assist it in its review and evaluation of the proposed transaction. The board cautions the company's shareholders and others considering trading the company's securities that no decisions have been made by the special committee with respect to the company's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

Hot Stocks
China XD Plastics trading resumes  10:05
05/08/20
05/08
10:05
05/08/20
10:05
CXDC

China XD Plastics

$0.94 /

+ (+0.00%)

 
Hot Stocks
China XD Plastics announces receipt of non-binding going private proposal » 09:48
05/08/20
05/08
09:48
05/08/20
09:48
CXDC

China XD Plastics

$0.94 /

+ (+0.00%)

China XD Plastics…

China XD Plastics announced that its board of directors has received a preliminary and non-binding proposal letter, dated May 7, 2020, from (i) Mr. Jie Han, the Company's Chairman and CEO, and (ii) XD. Engineering Plastics Company Limited, a company incorporated in the British Virgin Islands and wholly owned by Mr. Han, proposing to acquire all of the outstanding shares of common stock (the "Shares") of the Company not currently owned by the Buyer Group in a "going-private" transaction for US$1.1 per Share in cash, subject to certain conditions. The US$1.1 per Share price represents a premium of approximately 19.6% to the closing price of the Company's Shares on May 6, 2020, a premium of approximately 19.5% to the average closing price of the Company's Shares during the last 30 trading days, and a premium of approximately 4.9% to the average closing price of the Company's Shares during the last 60 trading days. The Buyer Group currently beneficially owns the Shares representing approximately 70% of the voting power and approximately 50.1% of the share capital of the Company. The Buyer Group has engaged O'Melveny & Myers LLP as its U.S. legal advisor for the proposed transaction. According to the proposal letter, the Buyer Group plans to finance the acquisition with a combination of debt and equity capital. The proposal letter states that the equity portion of the financing would be provided by the Buyer Group in the form of cash and rollover equity in the Company and through available cash at the Company, and that the debt portion of the financing would be provided by loans from third party financial institutions, if required. A copy of the proposal letter is attached hereto as Annex A. The Company has retained Wilson Sonsini Goodrich & Rosati, Professional Corporation as its U.S. legal counsel in connection with the potential "going-private" transaction contemplated by the proposal letter. Additionally, the Board intends to form a special committee of independent directors to consider this proposal. The Board expects that the Special Committee will retain independent advisors, including an independent legal and financial advisor, to assist it in its review of the proposed transaction.

Hot Stocks
China XD Plastics trading halted, news dissemination  09:28
05/08/20
05/08
09:28
05/08/20
09:28
CXDC

China XD Plastics

$0.94 /

+0.0113 (+1.22%)

 
Over a quarter ago
Hot Stocks
China XD Plastics: COVID-19 to have 'material impact' on Q1 results » 08:33
04/02/20
04/02
08:33
04/02/20
08:33
CXDC

China XD Plastics

$1.09 /

+0.1202 (+12.39%)

China XD Plastics…

China XD Plastics provided an update on the impact of the coronavirus outbreak on its business and operations. The company said, "While the company's business operations and financial results for the year ended December 31, 2019 were not affected by this global pandemic, the company had temporarily closed its manufacturing factories and corporate offices from January 24th to February 9th, 2020, as a result of the Outbreak and widespread public concerns. All company personnel had been required to stay at home until February 9th by the government based on the development of this health epidemic. The preparation of company's financial statements and audit process have been delayed due to government-imposed quarantines, office closings and travel restrictions on company's personnel and service providers, including auditors. In the short term, the company expects the outbreak to have a material impact on its operations in the first quarter of 2020. The overall impact of the Coronavirus on the company's operations and financial results for 2020 remains to be seen. Presently, the pandemic in China has been well contained. As of the date of this press release, approximately 50% of employees of the company's administrative offices return to work. Our factories in Heilongjiang and Sichuan provinces were running at 20% capacity utilization at the end of this March and are expected to reach 70% capacity utilization by the end of this April and normal utilization rate by the end of this May. Our factory in Dubai was not impacted by the coronavirus outbreak during January and February but only 20% employees from private sectors are now allowed to go to work due to the recent rise of coronavirus cases in UAE."

Hot Stocks
China XD Plastics regains compliance with NASDAQ listing rules » 09:16
02/18/20
02/18
09:16
02/18/20
09:16
CXDC

China XD Plastics

$1.54 /

-0.03 (-1.91%)

China XD Plastics…

China XD Plastics announced that it has received the formal notification from the Listing Qualifications Department of The NASDAQ Stock Market on February 13 informing the Company that it now complies with Listing Rule 5620, which requires that the Company holds an annual meeting of shareholders within twelve months after the end of a company's financial year. On January 2, 2020, NASDAQ notified the Company that it did not comply with Listing Rule 5620. On February 11, the Company held its annual meeting of shareholders.

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