Research Desk Line-up: Sunworks Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 22, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for JA Solar Holdings Co., Ltd (NASDAQ: JASO) ("JASO"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=JASO. The Company announced on November 17, 2017, that it has signed an agreement to merge with JASO Holdings Limited (Holdco), JASO Parent Limited (Parent), and JASO Acquisition Limited (Merger Sub). After completing the merger, the Company will be acquired by a private investor consortium. The Parent is a wholly owned subsidiary of Holdco, while Merger Sub is a wholly owned subsidiary of the Parent. The private consortium will acquire the merged entity for approximately $362.1 million in an all-cash transaction. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Semiconductor - Specialized industry. Pro-TD has currently selected Sunworks, Inc. (NASDAQ: SUNW) for due-diligence and potential coverage as the Company announced on November 14, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Sunworks when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on JASO; also brushing on SUNW. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=JASO

http://protraderdaily.com/optin/?symbol=SUNW

The Investor Consortium

The private investor consortium acquiring the merged JASO entity consists of Mr. Baofang Jin, Chairman and Chief Executive Officer of JASO; Jinglong, a British Virgin Islands Company, where Mr. Baofang Jin is the sole director; and/or its affiliates; and the other Rollover Shareholders.

JASO had first received the proposal from the consortium led by JASO's CEO Mr. Baofang Jin in June 2015 and a revised proposal in June 2017. The current deal is the result of considering the second revised proposal by the consortium.

Terms of the agreement

As per the terms of the agreement, at the time of the merger, the consortium will pay $1.51 in cash without interest for each ordinary share of JASO and they will pay $7.55 in cash without interest for each American depositary share (ADS) of JASO (which equals 5 ordinary JASO's shares). After the payment, JASO's ordinary shares and ADS would cease to exist.

This arrangement is not applicable to:

  1. shares and ADS owned by Jinglong Group Co., Ltd (Jinglong), Chin Tien HUANG, Chi Fung WONG, and Pak Wai WONG (jointly referred to as Rollover Shareholders) which will be rolled over and will be cancelled and cease to exist without any conversion or payment of any consideration.

  1. shares and ADS held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger (Dissenting Shares). Their shares will be cancelled and cease to exist after they receive payment of fair value of the Dissenting Shares.

For share options, at the time of the merger, the arrangement is as under:

  1. any outstanding and unexercised option (Company Option) to purchase JASO's Shares under JASO's share incentive scheme will stand cancelled and each holder of the Company Option will have the right to receive cash, which would be calculated by multiplying the excess cash left after paying the $1.51 over the applicable exercise price of Company Option by the number of Shares such holder could have purchased if the holder had exercised such Company option in full, immediately prior to the time of the merger.

  1. each restricted share and each restricted share unit given under JASO's share incentive scheme will be cancelled and each holder has the right to receive cash at the rate of $1.51 per share/ share unit. These transactions will be payable after deduction of any applicable withholding taxes.

The offer price represents a premium of 18.2% of the closing price of ADS on June 25, 2017, the last trading day before the Company received the proposal for going private. The Company's Board of Directors have unanimously approved the agreement after the Special Committee formed by the Board evaluated, negotiated the terms, and recommended the deal with the help of financial and legal advisors. The deal is expected to close in Q1 2018 subject to regulatory and shareholders' approvals and other closing conditions.

The deal needs the approval of at least two-thirds of JASO's shareholders' voting in favor of the agreement to be completed. The investor consortium, including the Rollover Shareholders, represent approximately 25.7% voting rights have already agreed to vote in favor of the deal.

Once the merger is completed, JASO's merged entity will become a private company and all JASO's shares will no longer be listed on the NASDAQ Exchange.

About JA Solar Holdings Co., Ltd

Beijing, China based JASO is a leading manufacturer of high-performance solar power products. The Company was founded in May 2005 and publicly listed on the NASDAQ in February 2007. The Company sells its products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company distributes its products under its own brand and produces on behalf of its clients. JASO has production facilities at Shanghai, Hebei, Jiangsu, and Anhui provinces in China as well as in Penang, Malaysia and Hanoi, Vietnam.

For FY16, the Company shipped 5.2 GW of solar power products

Last Close Stock Review

On Tuesday, November 21, 2017, the stock closed the trading session at $7.47, marginally climbing 0.27% from its previous closing price of $7.45. A total volume of 704.73 thousand shares have exchanged hands. JA Solar's stock price soared 18.01% in the last three months, 7.48% in the past six months, and 41.48% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 56.93%. The stock is trading at a PE ratio of 4.59. At Tuesday's closing price, the stock's net capitalization stands at $327.11 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily