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Not work for the convening of general meeting of shareholders, as long as possible, to gain time, Cheng Hao breakthrough. The first photograph in the U.S. state’s 10.67% stake is limited to selling shares, since can not withdraw cash, the country has enough down time and triple mediation. Auction of four options, three Liupai; countless bickering. More than four months later, the United States and China
Sanlian Group Fight Triple Trading Company
(600898.SH) control over the “war” has evolved into an excessively bureaucratic soap opera: characters always only two circumstances are endless. The June 25, the National United States suddenly announced, refused to participate in general meeting of shareholders to request regulatory intervention, and accused the triple Group violations, accusing the assets of listed companies do not complete their own Idealists.
Fast break without fruit country the United States began to stall for time, there is no suspense soap opera has entered the waste of time.
Something wrong with delaying tactics Statement
6 27, is a triple trading company hold a shareholder meeting scheduled for the day, at the shareholder meeting, triple trading company will achieve directors, board of supervisors in general. February New Island, the largest shareholder of Dragon’s Back Construction (under the US-China Group) nominated seven people, if successful, the National Board of Directors in the United States to be successful enough in the majority, and gain absolute control over the triple trading company.
But things are not so simple. The current situation is that not only can not do as GOME, Joint Group is likely to continue triple trading company on the actual control.
6 25, two days before the shareholders meeting, the National US-side “sudden” position, the upcoming shareholders meeting to vote in violation of association; same time, the “surprise” in that triple trading company’s assets and business is not complete not independent, triple Group requested to take immediate measures to remedy and correct. Gome (0493.HK) president Chen Xiao high-profile media that refused to participate in general meeting of shareholders to withdraw the directors, supervisors and candidates for the nomination, and has provided to the regulatory authorities of unauthorized manipulation of triple triple trading company group evidence of the investigation called for regulatory intervention .
“Voting is announced in advance, why does not challenge earlier, now that. Clearly is delays.” Interim statement for the States United States, triple the relevant Group executives said some of indignation.
She also said that on the ballot of the National US-raised objection is untenable, the National Articles of Association of the United States is in the distortion. “Directors, Board of Supervisors re-election, cumulative voting is commonly used. Is also actively promoted exchanges.” She said, “triple trading company statute,” do provide members of the Board and the Supervisory Board the appointment and removal of remuneration and payment methods by the shareholders The General Assembly passed an ordinary resolution, while the provisions of article 83, the company’s controlling shareholder of the company holding more than 30% proportion, shareholders meeting in two or more electoral votes of directors or supervisors should adopt cumulative voting . 83 requirement is that “cumulative voting system should be taken,” does not mean that less than 30% can not use cumulative voting system, as for the country way of ordinary resolution proposed by the United States is not justified, ordinary resolution does not mean that ordinary voting system, it is two different things. “I do not know rules of the country or the United States do not understand what true purpose. We think that is absurd.” The official said.
States United States does have sufficient reason to use delaying tactics.
2 14, companies rely on Shadow Island Dragon’s Back Construction ferocious attack launched by the United States won one fell swoop triple trading company’s 10.67% stake in a triple trading company’s largest shareholder. Since then, the triple Trading Company 9.02% stake in another auction, the country want the United States followed suit and won an absolute control over this part of stake in the company, but the original shareholder has triple groups preparedness, some maneuvers fight back, the 9.02% stake in three Liu Pai, is facing a fourth auction.
Repeated again without bidding
as Gome triple trading company currently holds a 10.67% stake, only the triple group than in the second-largest shareholder of more than 1%, the third largest shareholder Zhengzhou Baiwen Group (formerly Zheng triple trading company 100 text largest shareholder) holds a 6.29% stake, the two together be much higher than the U.S. stake in the country. If the use of cumulative voting system, the country is virtually impossible in the United States and the new board of directors have a majority of seats, which can not be achieved on further integration intentions triple trading company, which has played a 537 million yuan for the “real money” in the country to the United States that is clearly unacceptable result.
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