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TABLE OF CONTENTS
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13E-3
(Amendment No. 1)
RULE 13e-3 TRANSACTION STATEMENT
(Pursuant to Section 13(e) of the Securities Exchange Act of 1934)
JA Solar Holdings Co., Ltd.
(Name of the Issuer)
JA Solar Holdings Co., Ltd.
Mr. Baofang Jin
Jinglong Group Co., Ltd.
JASO Top Holdings Limited
JASO Holdings Limited
JASO Parent Limited
JASO Acquisition Limited
Mr. Chin Tien HUANG
Ms. Chi Fung WONG
Ms. Pak Wai WONG
(Names of Persons Filing Statement)
Ordinary Shares, par value $0.0001 per share
American Depositary Shares, each representing five Ordinary Shares
(Title of Class of Securities)
001-33290
(CUSIP Number)
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JA Solar Holdings Co., Ltd.
Building No. 8, Noble Center, Automobile Museum
East Road,
Fengtai, Beijing 100070
People's Republic of China
Telephone: +86 10 63611888 |
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Mr. Baofang Jin
Jinglong Group Co., Ltd.
JASO Top Holdings Limited
JASO Holdings Limited
JASO Parent Limited
JASO Acquisition Limited
Building No. 8, Noble Center, Automobile Museum
East Road,
Fengtai, Beijing 100070
People's Republic of China
Telephone: +86 10 63611999 |
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Mr. Chin Tien HUANG
Ms. Pak Wai WONG
Room A, 43/F, BLK 8, the Wings
9 Tong Yin Street, Tseung Kwan O
New Territory, Hong Kong
Tel: +852 23899506 |
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Ms. Chi Fung WONG
Room A, 43/F, BLK 13, Central Heights
9 Tong Tak Street, Tseung Kwan O
New Territory, Hong Kong
Tel: +852 23899506 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
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With copies to: |
Fang Xue
Gibson, Dunn & Crutcher LLP
Unit 1301, Tower 1, China Central Place
No. 81 Jianguo Road
Beijing 100025
People's Republic of China
Telephone: +86 10 6502 8500 |
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Peter Huang
Skadden, Arps, Slate, Meagher & Flom LLP
30th Floor, China World Office 2
1 Jianguomenwai Avenue
Beijing 100004
People's Republic of China
Telephone: +86 10 6535 5577 |
This
statement is filed in connection with (check the appropriate box):
- a
- o The
filing of solicitation materials or an information statement subject to Regulation 14A,
Regulation 14-C or Rule 13e-3(c) under the Securities Exchange Act of 1934.
- b
- o The
filing of a registration statement under the Securities Act of 1933.
- c
- o A
tender offer
- d
- ý None
of the above
Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary
copies: o
Check the following box if the filing is a final amendment reporting the results of the transaction: o
Calculation of Filing Fee
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Transactional Valuation*
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Amount of Filing Fee**
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US$268,198,833 |
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US$33,391 |
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- *
- Calculated solely for the purpose of determining the filing fee in accordance with Rule 0-11(b)(1) under the Securities
Exchange Act of 1934, as amended. The filing fee is calculated based on the sum of (a) the aggregate cash payment for the proposed per share cash payment of $1.51 for 176,890,210 issued and
outstanding ordinary shares of the issuer (including shares represented by American depositary shares) subject to the transaction, plus (b) the product of 651,110 RSUs of the issuer subject to
the transaction multiplied by $1.51 per RSU, plus (c) the product of 796,000 shares issuable under all outstanding options with per share exercise lower than US$1.51 multiplied by US$0.14 per
share (which is the difference between the $1.51 per share merger consideration and the weighted average exercise price of US$1.37 per share of such options) ((a), (b), and (c) together, the
"Transaction Valuation").
- **
- The amount of the filing fee, calculated in accordance with Exchange Act Rule 0-11(b)(1) and the Securities and
Exchange Commission Fee Rate Advisory #1 for Fiscal Year 2018, was calculated by multiplying the Transaction Valuation by 0.0001245.
- o
- Check box if any part of the fee is offset as provided by
Rule 0-11(a)(2) and identify the filing with which the offsetting of the fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule
and the date of its filing.
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Amount Previously Paid: |
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Filing Party: |
Form or Registration No.: |
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Date Filed: |
Table of Contents
TABLE OF CONTENTS
i
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INTRODUCTION
This Amendment No. 1 (this "Amendment") to the Rule 13e-3 transaction statement on Schedule 13E-3, together with the
exhibits hereto (this "Transaction Statement"), is being filed with the Securities and Exchange Commission (the "SEC") pursuant to Section 13(e) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), jointly by the following persons (each, a "Filing Person," and collectively, the "Filing Persons"): (a) JA Solar Holdings Co., Ltd., an
exempted company with limited liability incorporated under the laws of the Cayman Islands (the "Company"), the issuer of the ordinary shares, par value US$0.0001 per share (each, a "Share" and
collectively, the "Shares"), including the Shares represented by American depositary shares (each, an "ADS," and together, the "ADSs"), each representing five Shares that is subject to the transaction
pursuant to Rule 13e-3 under the Exchange Act; (b) Mr. Baofang Jin, the chairman of the board of directors and chief executive officer of the Company; (c) Jinglong
Group Co., Ltd., a British Virgin Islands company (" Jinglong"); (d) JASO Top Holdings Limited, an exempted company with limited liability incorporated under the laws of the
Cayman Islands (" JASO Top"); (e) JASO Holdings Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands ("Holdco"); (f) JASO Parent Limited,
an exempted company with limited liability incorporated under
the laws of the Cayman Islands, and a wholly owned subsidiary of Holdco ("Parent"); (g) JASO Acquisition Limited, an exempted company with limited liability incorporated under the laws of the
Cayman Islands, and a wholly owned subsidiary of Parent ("Merger Sub"); (h) Mr. Chin Tien Huang; (i) Ms. Pak Wai WONG; and (j) Ms. Chi Fung WONG. This
Amendment amends and restates in its entirety information set forth in the Transaction Statement.
On
November 17, 2017, Holdco, Parent, Merger Sub and the Company entered into an agreement and plan of merger (the "Merger Agreement") providing for the merger of Merger
Sub with and into the Company, with the Company continuing as the surviving company (the "Surviving Corporation") after the Merger as a wholly owned subsidiary of Parent (the "Merger").
Pursuant
to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), (i) each of the Shares issued and outstanding immediately prior to the
Effective Time will be cancelled in exchange for the right to receive US$1.51 in cash, without interest, and (ii) each of the ADSs issued and outstanding immediately prior to the Effective Time
will be cancelled in exchange for the right to receive US$7.55 in cash without interest, except for (x) 61,036,142 Shares held by Jinglong, Mr. Chin Tien HUANG, Ms. Pak Wai WONG,
and Ms. Chi Fung WONG (collectively, the "Rollover Shareholders"), which will be cancelled and cease to exist without payment of consideration as contemplated by and in accordance with
the Support Agreement entered into between Holdco and the Rollover Shareholders (the "Support Agreement"), and (y) Shares held by shareholders who have validly exercised and have not
effectively withdrawn or lost their rights to dissent from the Merger pursuant to Section 238 of the Companies Law of the Cayman Islands (the "Dissenting Shares"), which will be
cancelled and cease to exist in exchange for the right to receive the payment of fair value of the Dissenting Shares in accordance with Section 238 of the Companies Law of the
Cayman Islands.
In
addition to the foregoing, at or immediately prior to the Effective Time, each option (each, a "Company Option") to purchase Shares granted under the Company's 2006 stock incentive
plan, dated as of August 18, 2006, and the Company's 2014 stock incentive plan, dated as of June 30, 2014, and all amendments and modifications thereto (collectively, the "Share
Incentive Plan"), whether or not vested or exercisable, that is outstanding and unexercised, will be cancelled and (i) converted into the right of each holder of such Company Option (other than
the Rollover Shareholders) to receive cash, net of any applicable withholding taxes, in the amount equal to the product of (x) the excess, if any, of US$1.51 over the exercise price of such
Company Option and (y) the number of Shares such holder could have purchased (assuming full vesting of all options) had such holder exercised such Company Option in full immediately prior to
the Effective Time, and (ii) all Company Options held by
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the
Rollover Shareholders, if any, shall be treated as set forth in the Support Agreement (as defined below).
At
or immediately prior to the Effective Time, each restricted share of the Company granted under the Share Incentive Plan (each a "Restricted Share") and each restricted share unit
granted under the Share Incentive Plan (each, an "RSU"), in each case that is then outstanding and unexercised, will be cancelled and converted into the right of the holder of such Restricted Share
and/or RSU to receive cash, without interest and net of any applicable withholding taxes, in the amount equal to US$1.51.
The
Merger remains subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement, including obtaining the requisite approval of the shareholders of the
Company. The Merger Agreement, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands in connection with the Merger (the "Plan of Merger") and the
transactions contemplated by the Merger Agreement and the Plan of Merger (collectively, the "Transactions"), including the Merger, must be authorized and approved by a special resolution of the
Company passed by an affirmative vote of holders of Shares representing at least two-thirds of the Shares present and voting in person or by proxy as a single class at the extraordinary general
meeting held in accordance with its memorandum and articles of association. Pursuant to the Support Agreement, the Rollover Shareholders have agreed to vote all of the Shares beneficially owned by
them in favor of the Merger Agreement, the Plan of Merger and the Transactions, including the Merger, which Shares represent approximately 25.7% of the total number of votes represented by the
Company's issued and outstanding Shares. A vote by a majority of the Shares held by unaffiliated holders is not required to approve the Merger Agreement, the Plan of Merger, or the Transactions,
including the Merger.
The Company will make available to its shareholders a proxy statement (the "Proxy Statement," a preliminary copy of which is attached as
Exhibit (a)-(1) to this
Amendment), relating to the extraordinary general meeting of the Company's shareholders, at which the Company's shareholders will consider and vote upon, among other proposals, a proposal to authorize
and approve the Merger Agreement, the Plan of Merger and the Transactions, including the Merger. As of the date hereof, the Proxy Statement is in preliminary form and is subject to completion.
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Proxy Statement.
The cross-references below are being supplied pursuant to General Instruction G to Schedule 13E-3 and show the location in the Proxy
Statement of the information
required to be included in response to the items of Schedule 13E-3. Pursuant to General Instruction F to Schedule 13E-3, the information contained in the Proxy Statement,
including all annexes thereto, is incorporated in its entirety herein by this reference, and the responses to each item in this Amendment are qualified in their entirety by the information contained
in the Proxy Statement and the annexes thereto.
All
information contained in this Transaction Statement concerning each Filing Person has been supplied by such Filing Person. No Filing Person, including the Company, has supplied any
information with respect to any other Filing Person.
Item 1 Summary of Term Sheet
The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEET"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
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Item 2 Subject Company Information
- (a)
- Name
and Address. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETThe Parties Involved in the Merger"
- (b)
- Securities.
The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "THE EXTRAORDINARY GENERAL MEETINGRecord Date; Shares Entitled to Vote"
-
- THE EXTRAORDINARY GENERAL MEETINGProcedures for Voting"
-
- "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT OF THE COMPANY"
- (c)
- Trading
Market and Price. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "MARKET PRICE OF THE COMPANY'S ADSs, DIVIDENDS AND OTHER MATTERS"
- (d)
- Dividends.
The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "MARKET PRICE OF THE COMPANY'S ADSs, DIVIDENDS AND OTHER MATTERS"
- (e)
- Prior
Public Offerings. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "TRANSACTIONS IN SHARES AND ADSsPrior Public Offerings"
- (f)
- Prior
Stock Purchases. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "TRANSACTIONS IN SHARES AND ADSs"
Item 3 Identity and Background of Filing Persons
- (a)
- Name
and Address. JA Solar Holdings Co., Ltd. is the subject company. The information set forth in the Proxy Statement under the following captions is
incorporated herein by reference:
-
- "SUMMARY TERM SHEETThe Parties Involved in the Merger"
-
- "ANNEX HDIRECTORS AND EXECUTIVE OFFICERS OF EACH FILING PERSON"
- (b)
- Business
and Background of Entities. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETThe Parties Involved in the Merger"
-
- "ANNEX HDIRECTORS AND EXECUTIVE OFFICERS OF EACH FILING PERSON"
- (c)
- Business
and Background of Natural Persons. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETThe Parties Involved in the Merger"
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Table of Contents
-
- "ANNEX HDIRECTORS AND EXECUTIVE OFFICERS OF EACH FILING PERSON"
Item 4 Terms of the Transaction
- (a)
- -(1) Material
TermsTender Offers. Not applicable.
- (a)
- -(2) Material
TermsMerger or Similar Transactions. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEET"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
-
- "SPECIAL FACTORSSupport Agreement"
-
- "SPECIAL FACTORS"Limited Guarantee
-
- "SPECIAL FACTORS"Financing of the Merger-Equity Financing
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "SPECIAL FACTORSFederal Income Tax Consequences"
-
- "SPECIAL FACTORSPRC Income Tax Consequences"
-
- "SPECIAL FACTORSCayman Islands Tax Consequences"
-
- "THE EXTRAORDINARY GENERAL MEETING"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (c)
- Different
Terms. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "THE EXTRAORDINARY GENERAL MEETINGProposals to be Considered at the Extraordinary General Meeting"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (d)
- Appraisal
Rights. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETDissenters' Rights of Shareholders"
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Table of Contents
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
-
- "DISSENTERS' RIGHTS"
-
- "ANNEX GCAYMAN ISLANDS COMPANIES LAW CAP. 22 (LAW 3 OF 1961, AS CONSOLIDATED AND
REVISED)SECTION 238"
- (e)
- Provisions
for Unaffiliated Security Holders. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "PROVISIONS FOR UNAFFILIATED SECURITY HOLDERS"
- (f)
- Eligibility
of Listing or Trading. Not applicable.
Item 5 Past Contracts, Transactions, Negotiations and Agreements
- (a)
- Transactions.
The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "SPECIAL FACTORSRelated Party Transactions"
-
- "TRANSACTIONS IN SHARES AND ADSs"
- (b)
- Significant
Corporate Events. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (c)
- Negotiations
or Contacts. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "Summary Term Sheet"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (e)
- Agreements
Involving the Subject Company's Securities. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETFinancing of the Merger"
5
Table of Contents
-
- "SUMMARY TERM SHEETPlans for the Company after the Merger"
-
- "SUMMARY TERM SHEETSupport Agreement"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSFinancing of the Merger"
-
- "SPECIAL FACTORSPlans for the Company after the Merger"
-
- "SPECIAL FACTORSSupport Agreement"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "SPECIAL FACTORSVoting by the Buyer Group at the Extraordinary General Meeting"
-
- "THE MERGER AGREEMENT"
-
- "TRANSACTIONS IN SHARES AND ADSs"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
Item 6 Purposes of the Transaction and Plans or Proposals
- (b)
- Use
of Securities Acquired. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEET"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
-
- "SPECIAL FACTORSEffects of the Merger on the Company"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (c)
- (1)-(8) Plans.
The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETThe Merger Agreement"
-
- "SUMMARY TERM SHEETPurposes and Effects of the Merger"
-
- "SUMMARY TERM SHEETPlans for the Company after the Merger"
-
- "SUMMARY TERM SHEETFinancing of the Merger"
-
- "SUMMARY TERM SHEETInterests of the Company's Executive Officers and Directors in the Merger"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
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-
- "SPECIAL FACTORSEffects of the Merger on the Company"
-
- "SPECIAL FACTORSPlans for the Company after the Merger"
-
- "SPECIAL FACTORSFinancing of the Merger"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
Item 7 Purposes, Alternatives, Reasons and Effects
- (a)
- Purposes. The
information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETPurposes and Effects of the Merger"
-
- "SUMMARY TERM SHEETPlans for the Company after the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
- (b)
- Alternatives. The
information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
-
- "SPECIAL FACTORSAlternatives to the Merger"
-
- "SPECIAL FACTORSEffects on the Company if the Merger is not Completed"
- (c)
- Reasons. The
information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETPurposes and Effects of the Merger"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SPECIAL FACTORSPurposes of and Reasons for the Merger"
-
- "SPECIAL FACTORSEffects of the Merger on the Company"
- (d)
- Effects. The
information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETPurposes and Effects of the Merger"
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-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSEffects of the Merger on the Company"
-
- "SPECIAL FACTORSPlans for the Company after the Merger"
-
- "SPECIAL FACTORSEffects on the Company if the Merger is not Completed"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "SPECIAL FACTORSU.S. Federal Income Tax Consequences"
-
- "SPECIAL FACTORSPRC Income Tax Consequences"
-
- "SPECIAL FACTORSCayman Islands Tax Consequences"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
Item 8 Fairness of the Transaction
- (a)
- -(b) Fairness;
Factors Considered in Determining Fairness. The information set forth in the Proxy Statement under the following captions is incorporated
herein by reference:
-
- "SUMMARY TERM SHEETRecommendation of the Special Committee and the Board"
-
- "SUMMARY TERM SHEETPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SUMMARY TERM SHEETOpinion of the Special Committee's Financial Advisor"
-
- "SUMMARY TERM SHEETInterests of the Company's Executive Officers and Directors in the Merger"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SPECIAL FACTORSOpinion of the Special Committee's Financial Advisor"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "ANNEX FOPINION OF HOULIHAN LOKEY (CHINA) LIMITED AS FINANCIAL ADVISOR"
- (c)
- Approval
of Security Holders. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETShareholder Vote Required to Authorize and Approve the Merger Agreement and Plan of Merger"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
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-
- "THE EXTRAORDINARY GENERAL MEETINGVote Required"
- (d)
- Unaffiliated
Representative. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSOpinion of the Special Committee's Financial Advisor"
-
- "ANNEX FOPINION OF HOULIHAN LOKEY (CHINA) LIMITED AS FINANCIAL ADVISOR"
- (e)
- Approval
of Directors. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETRecommendation of the Special Committee and the Board"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
- (f)
- Other
Offers. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
Item 9 Reports, Opinions, Appraisals and Negotiations
- (a)
- Report,
Opinion or Appraisal. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETOpinion of the Special Committee's Financial Advisor"
-
- "SPECIAL FACTORSBackground of the Merger"
-
- "SPECIAL FACTORSOpinion of the Special Committee's Financial Advisor"
-
- "ANNEX FOPINION OF HOULIHAN LOKEY (CHINA) LIMITED AS FINANCIAL ADVISOR"
- (b)
- Preparer
and Summary of the Report, Opinion or Appraisal. The information set forth in the Proxy Statement under the following captions is incorporated
herein by reference:
-
- "SPECIAL FACTORSOpinions of the Special Committee's Financial Advisor"
-
- "ANNEX FOPINION OF HOULIHAN LOKEY (CHINA) LIMITED AS FINANCIAL ADVISOR"
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- (c)
- Availability
of Documents. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "WHERE YOU CAN FIND MORE INFORMATION"
The
reports, opinions or appraisals referenced in this Item 9 will be made available for inspection and copying at the principal executive offices of the Company during its
regular business hours by any interested holder of the Shares or his, her or its representative who has been so designated in writing.
Item 10 Source and Amount of Funds or Other Consideration
- (a)
- Source
of Funds. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETFinancing of the Merger"
-
- "SPECIAL FACTORSFinancing of the Merger"
-
- "THE MERGER AGREEMENT"
-
- "ANNEX AAGREEMENT AND PLAN OF MERGER"
-
- "ANNEX BPLAN OF MERGER"
- (b)
- Conditions. The
information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETFinancing of the Merger"
-
- "SPECIAL FACTORSFinancing of the Merger"
- (c)
- Expenses. The
information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "SPECIAL FACTORSFees and Expenses"
- (d)
- Borrowed
Funds. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETFinancing of the Merger"
-
- "SPECIAL FACTORSFinancing of the Merger"
-
- "THE MERGER AGREEMENTFinancing"
Item 11 Interest in Securities of the Subject Company
- (a)
- Securities
Ownership. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETInterests of the Company's Executive Officers and Directors in the Merger"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT OF THE COMPANY"
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- (b)
- Securities
Transactions. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "TRANSACTIONS IN SHARES AND ADSs"
Item 12 The Solicitation or Recommendation
- (d)
- Intent
to Tender or Vote in a Going-Private Transaction. The information set forth in the Proxy Statement under the following captions is incorporated
herein by reference:
-
- "SUMMARY TERM SHEETInterests of the Company's Executive Officers and Directors in the Merger"
-
- "SUMMARY TERM SHEETSupport Agreement"
-
- "SPECIAL FACTORSSupport Agreement"
-
- "QUESTIONS AND ANSWERS ABOUT THE EXTRAORDINARY GENERAL MEETING AND THE MERGER"
-
- "SPECIAL FACTORSVoting by the Buyer Group at the Extraordinary General Meeting"
-
- "THE EXTRAORDINARY GENERAL MEETINGVote Required"
-
- "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT OF THE COMPANY"
- (e)
- Recommendations
of Others. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETRecommendation of the Special Committee and the Board"
-
- "SUMMARY TERM SHEETPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SUMMARY TERM SHEETSupport Agreement"
-
- "SPECIAL FACTORSReasons for the Merger and Recommendation of the Special Committee and the Board"
-
- "SPECIAL FACTORSPosition of the Buyer Group as to the Fairness of the Merger"
-
- "SPECIAL FACTORSSupport Agreement"
-
- "THE EXTRAORDINARY GENERAL MEETINGOur Board's Recommendation"
Item 13 Financial Statements
- (a)
- Financial
Information. The audited financial statements of the Company for the two years ended December 31, 2015 and 2016 are incorporated
herein by reference to the Company's Form 20-F for the year ended December 31, 2016, originally filed on April 26, 2017 (see page F-1 and following pages).
The
information set forth in the Proxy Statement under the following captions is incorporated herein by reference:
-
- "FINANCIAL INFORMATION"
-
- "WHERE YOU CAN FIND MORE INFORMATION"
11
Table of Contents
- (b)
- Pro Forma
Information. Not applicable.
Item 14 Persons/Assets, Retained, Employed, Compensated or Used
- (a)
- Solicitation
or Recommendations. The information set forth in the Proxy Statement under the following caption is incorporated herein
by reference:
-
- "THE EXTRAORDINARY GENERAL MEETINGSolicitation of Proxies"
- (b)
- Employees
and Corporate Assets. The information set forth in the Proxy Statement under the following captions is incorporated herein
by reference:
-
- "SUMMARY TERM SHEETThe Parties Involved in the Merger"
-
- "SPECIAL FACTORSInterests of Certain Persons in the Merger"
-
- "ANNEX HDIRECTORS AND EXECUTIVE OFFICERS OF EACH FILING PERSON"
Item 15 Additional Information
- (b)
- Other
Material Information. The information contained in the Proxy Statement, including all annexes thereto, is incorporated herein
by reference.
Item 16 Exhibits
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(a)-(1) |
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Preliminary Proxy Statement of the Company dated January 11, 2018 (the "Proxy Statement"). |
(a)-(2) |
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Notice of Extraordinary General Meeting of Shareholders of the Company, incorporated herein by reference to the Proxy Statement. |
(a)-(3) |
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Form of Proxy Card, incorporated herein by reference to Annex I to the Proxy Statement. |
(a)-(4) |
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Form of ADS Voting Instruction Card, incorporated herein by reference to the Proxy Statement. |
(a)-(5) |
|
Press Release issued by the Company, dated November 20, 2017, incorporated herein by reference to Exhibit 99.1 to the Report
on Form 6-K furnished by the Company to the SEC on November 20, 2017. |
(b)-(1) |
|
Debt Commitment Letter, by CSI Finance Limited, Credit Suisse AG, Singapore Branch, Dong Yin Development (Holdings) Limited and SPDB
International (Hong Kong) Limited in favor of JASO Acquisition Limited, dated as of November 17, 2017, incorporated herein by reference to Exhibit 7.05 to the Amendment No. 7 to the Schedule 13D filed by Jinglong
Group Co., Ltd., Mr. Baofang JIN, Mr. Chin Tien HUANG, Ms. Chi Fung WONG, and Ms. Pak Wai WONG on November 21, 2017. |
(b)-(2) |
|
Commitment Letter, by Abax Asian Structured Credit Fund II, LP in favor of JASO Top Holdings Limited, dated as of November 17,
2017, incorporated herein by reference to Exhibit 7.06 to the Amendment No. 7 to the Schedule 13D filed by Jinglong Group Co., Ltd., Mr. Baofang JIN, Mr. Chin Tien HUANG, Ms. Chi Fung WONG, and
Ms. Pak Wai WONG on November 21, 2017. |
(c)-(1) |
|
Opinion of Houlihan Lokey (China) Limited, dated November 16, 2017, incorporated herein by reference to Annex F to the Proxy
Statement. |
(c)-(2) |
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Discussion Materials prepared by Houlihan Lokey (China) Limited for discussion with the Special Committee, dated November 16,
2017. |
12
Table of Contents
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(d)-(1) |
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Agreement and Plan of Merger, dated as of November 17, 2017, by and among the Company, Holdco, Parent and Merger Sub, incorporated herein by reference
to Annex A to the Proxy Statement. |
(d)-(2) |
|
Support Agreement, dated as of November 17, 2017, by and between Holdco, Mr. Chin Tien HUANG, Ms. Chi Fung WONG, and
Ms. Pak Wai WONG, incorporated herein by reference to Annex C to the Proxy Statement. |
(d)-(3) |
|
Limited Guarantee, dated as of November 17, 2017, by and between Jinglong and the Company, incorporated herein by reference to
Annex D to the Proxy Statement. |
(d)-(4) |
|
Equity Commitment Letter, dated as of November 17, 2017, by and between Jinglong, JASO Top, and Holdco, incorporated herein by
reference to Annex E to the Proxy Statement. |
(f)-(1) |
|
Dissenters' Rights, incorporated herein by reference to the section entitled "Dissenters' Rights" in the Proxy Statement. |
(f)-(2) |
|
Section 238 of the Cayman Islands Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised), incorporated herein by
reference to Annex G to the Proxy Statement. |
(g) |
|
Not applicable. |
13
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete
and correct.
Date: January 11, 2018
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JA Solar Holdings Co., Ltd. |
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By |
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/s/ SHAOHUA JIA
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Name: |
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Shaohua Jia |
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Title: |
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Director |
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Mr. Baofang Jin |
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/s/ BAOFANG JIN
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Jinglong Group Co., Ltd. |
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By |
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/s/ BAOFANG JIN
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Name: |
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Baofang Jin |
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Title: |
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Director |
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JASO Top Holdings Limited |
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By |
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/s/ BAOFANG JIN
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Name: |
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Baofang Jin |
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Title: |
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Director |
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JASO Holdings Limited |
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By |
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/s/ BAOFANG JIN
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Name: |
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Baofang Jin |
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Title: |
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Director |
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JASO Parent Limited |
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By |
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/s/ BAOFANG JIN
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Name: |
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Baofang Jin |
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Title: |
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Director |
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JASO Acquisition Limited |
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By |
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/s/ BAOFANG JIN
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Name: |
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Baofang Jin |
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Title: |
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Director
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[Signature Page to JA Solar SC 13e 3 Amendment No. 1]
Table of Contents
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Mr. Chin Tien Huang |
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/s/ CHIN TIEN HUANG
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Ms. Chi Fung WONG |
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/s/ CHI FUNG WONG
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Ms. Pak Wai WONG |
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/s/ PAK WAI WONG
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[Signature Page to JA Solar SC 13e 3 Amendment No. 1]
Table of Contents
EXHIBIT INDEX
|
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|
|
|
(a)-(1) |
|
Preliminary Proxy Statement of the Company dated January 11, 2018 (the "Proxy Statement"). |
|
|
|
|
|
(a)-(2) |
|
Notice of Extraordinary General Meeting of Shareholders of the Company, incorporated herein by reference to the Proxy Statement. |
|
|
|
|
|
(a)-(3) |
|
Form of Proxy Card, incorporated herein by reference to Annex I to the Proxy Statement. |
|
|
|
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|
(a)-(4) |
|
Form of ADS Voting Instruction Card, incorporated herein by reference to the Proxy Statement. |
|
|
|
|
|
(a)-(5) |
|
Press Release issued by the Company, dated November 20, 2017, incorporated herein by reference to Exhibit 99.1 to the Report on Form 6-K furnished by the Company to the SEC on November 20,
2017. |
|
|
|
|
|
(b)-(1) |
|
Debt Commitment Letter, by CSI Finance Limited, Credit Suisse AG, Singapore Branch, Dong Yin Development (Holdings) Limited and SPDB International (Hong Kong) Limited in favor of JASO Acquisition Limited, dated as of
November 17, 2017, incorporated herein by reference to Exhibit 7.05 to the Amendment No. 7 to the Schedule 13D filed by Jinglong Group Co., Ltd., Mr. Baofang JIN, Mr. Chin Tien HUANG, Ms. Chi
Fung WONG, and Ms. Pak Wai WONG on November 21, 2017. |
|
|
|
|
|
(b)-(2) |
|
Commitment Letter, by Abax Asian Structured Credit Fund II, LP in favor of JASO Top Holdings Limited, dated as of November 17, 2017, incorporated herein by reference to Exhibit 7.06 to the Amendment
No. 7 to the Schedule 13D filed by Jinglong Group Co., Ltd., Mr. Baofang JIN, Mr. Chin Tien HUANG, Ms. Chi Fung WONG, and Ms. Pak Wai WONG on November 21, 2017. |
|
|
|
|
|
(c)-(1) |
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Opinion of Houlihan Lokey (China) Limited, dated November 16, 2017, incorporated herein by reference to Annex F to the Proxy Statement. |
|
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|
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|
(c)-(2) |
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Discussion Materials prepared by Houlihan Lokey (China) Limited for discussion with the Special Committee, dated November 16, 2017. |
|
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|
|
|
(d)-(1) |
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Agreement and Plan of Merger, dated as of November 17, 2017, by and among the Company, Holdco, Parent and Merger Sub, incorporated herein by reference to Annex A to the Proxy Statement. |
|
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|
|
(d)-(2) |
|
Support Agreement, dated as of November 17, 2017, by and between Holdco, Mr. Chin Tien HUANG, Ms. Chi Fung WONG, and Ms. Pak Wai WONG, incorporated herein by reference to Annex C to the Proxy
Statement. |
|
|
|
|
|
(d)-(3) |
|
Limited Guarantee, dated as of November 17, 2017, by and between Jinglong and the Company, incorporated herein by reference to Annex D to the Proxy Statement. |
|
|
|
|
|
(d)-(4) |
|
Equity Commitment Letter, dated as of November 17, 2017, by and between Jinglong, JASO Top, and Holdco, incorporated herein by reference to Annex E to the Proxy Statement. |
|
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|
|
|
(f)-(1) |
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Dissenters' Rights, incorporated herein by reference to the section entitled "Dissenters' Rights" in the Proxy Statement. |
|
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|
|
(f)-(2) |
|
Section 238 of the Cayman Islands Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised), incorporated herein by reference to Annex G to the Proxy Statement. |
|
|
|
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|
(g) |
|
Not applicable. |