SemiLEDs Announces Definitive Common Stock Purchase Agreement

SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced it has entered into a definitive common stock purchase agreement with Mr. XiaoQing Han, Chairman and CEO of Beijing XiaoQing Environmental Protection Group. Under the terms of this agreement, Mr. Han will acquire a 15% interest in SemiLEDs common stock at a purchase price of $1.00 per share for a total consideration of $5.0 million and will join the SemiLEDs Board of Directors upon closing of the transaction.

Mr. XiaoQing Han is a veteran in the national environmental protection industry within China, having studied water supply and drainage at TsingHua University and Beijing University of Civil Engineering and Architecture and having recently spent the past 20 years focused on the water treatment sector. In 1988, Mr. Han founded Beijing XiaoQing Environmental Protection Group which contracts construction projects such as municipal water treatment, industrial wastewater treatment, garbage disposal, recycling, sludge treatment, sewage, and rural biogas. Beijing XiaoQing Environmental Protection Group’s customers span numerous industries including pharmaceutical, chemical, industrial, and consumer foods and products across more than 14 provinces and regions throughout China.

By aligning the interests of both SemiLEDs Corporation and Beijing XiaoQing Environmental Protection Group, both companies expect to benefit from operating synergies generated through the potential formation of several joint projects including utilizing LED technology into the waste water treatment plants, and, packaging LED luminaries in Provinces and Regions throughout China. This unique combination of environmental protection and energy saving technology is expected to generate significant growth opportunities for both companies in the years ahead.

"We are excited to bring Mr. XiaoQing Han onboard, and we look forward to a very productive fiscal 2015,” said Trung Doan, CEO of SemiLEDs. “We expect the joint opportunities ahead will enable our two firms to grow our business units and revenue while satisfying both our customers and shareholders alike," concluded Doan.

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