电广传媒“以股抵债”方案的实施情况及其效果分析

On the Present Situation of Carrying out the Program of ″Using Shares to Pay Debts″ in the Area of Broadcasting and TV and Its Effects

“以股抵债”作为一种全新的金融创新,没有先例可循。它是解决大股东资金占用问题的“次优方案”,但却是现实条件下的“最优选择”。“以股抵债”要求方案的设计必须综合考虑市场参与各方的利益,尽量形成“多赢”的局面;必须遵循相关法律法规;必须收取资金占用费以补偿公司及中小股东;必须注重保护流通股股东,特别是中小投资者的利益;必须防范占用资金行为的再次发生。

″Using shares to pay debts″ is a brand-new financial innovation. Although it is not the best approach to settle the problem of heavy stockholders occupying capital, it is a practical choice in the present situation. To employ the program, should comprehensively consider the interests of all the parties in the market, comply with related law and regulations, compensate light stockholders and the company by asking the heavy stockholder to pay capital occupying fee, pay special attention to protect the interests of investors and make efforts to prevent capital occupying from happening again.