Emerson Radio Corp, now being wooed by Swiss investment house Fidenas Investment Ltd (CI No 1,891), has terminated the plan under which Semi-Tech Global Ltd of Hong Kong would have taken control of its board in return for a $30m investment, and instead agreed to supply Semi-Tech with consumer electronic products for the next three to five years: the termination cost Emerson $1m in cash and shares, plus warrants tied to Semi-Tech buying $40m of Emerson goods over five years; the 1.5m warrants each carry the right to buy one new Emerson share at $4; 1m are good for four years, the other 500,000 for five years.
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