Under the terms of the letters, the employees – Lyu Wei, Xiong Hanqing, Li Qingshuang, Wang Hui, Feng Keke, Yang Yuanyuan and Zhou Hongyan – will receive a total of 2,542,000 shares at a total consideration of $935,456.
Sunpower Group is seeking to raise $935,456 through the proposed placement of up to 2.5 million new shares in the capital of the company, at an issue price of 36.8 cents apiece.
Sunpower Group, on March 29, entered into placement letters with seven of its key employees (or known as the placees).
