Rebirth: The Financial Giant

CEO's office.

There were only two people, Lu Ming directly took his little girlfriend's waist and came to the rest sofa to sit down, and suddenly said with a wicked smile: You said, if your elder brother knew that his own sister is sitting on the sworn enemy's lap right now What will it feel like? Excited or not? Surprise or surprise?

surprise? Nima is frightening!

An Yirou gave him an angry look, and after a while she said in a resentful tone, I wasn't like this before, alas~~, I don't know how to face myself anymore.

Well, it seems that the training in these days has achieved remarkable results and made great progress! Lu Ming said with a smile.

You still said it! An Yirou stared at her with a pretty face.

...

Anshi Group Headquarters.

How much threat does Tiansheng Capital's 20% shareholding pose to the company's control? The speaker was An Qilong, the current head of Anshi Group. At this moment, several legal lawyers of the company are conducting comprehensive research.

Chairman, although Anshi Group's articles of association stipulate that a 30% shareholding ratio is required to become the controlling shareholder of Anshi Group, but in reality it is possible to do so without 30%. Said: Tiansheng Capital came well prepared. I believe they have thoroughly understood the loopholes in the company's articles of association of Anshi Group before they started.

There are rumors in the outside world that as long as Tiansheng Capital successfully raises its placard for the sixth time, it will be able to acquire Anshi Group, a giant with an asset scale of more than 550 billion.

The statement that only 30% of the shares can control Anshi Group is originally quoted in Article 77 of its articles of association, that is, Article 77, the controlling shareholder mentioned in the previous article is a person who meets one of the following conditions:

(1) When the person acts alone or in concert with others, more than half of the directors may be elected;

(2) When acting alone or in concert with others, the person can exercise more than 30% (including 30%) of the company's voting rights or can control the exercise of more than 30% (including 30%) of the company's voting rights;

(3) When the person acts alone or in concert with others, he holds more than 30% (including 30%) of the company's issued shares;

(4) The person, acting alone or in concert with others, de facto controls the company in other ways.

An Qilong said immediately: Go ahead, what I want to know now is how much attack power the equity held by Tiansheng Capital can have on the board of directors?

The leading lawyer flipped through the documents and said, In addition to raising the stake to 20%, Lu Ming also has a 0.46% stake in Tiansheng Value Growth Hybrid Fund, a total of 20.46%, if you understand It is only 20.46% of the weight and influence, but it is a serious misinterpretation of voting rights, especially voting rights under the cumulative voting system.

The voting rights of the shareholders' meeting are not based on the entire public share capital as the voting base, but on the voting base of the voting shares present at the meeting. Combined with the cumulative voting system, the actual situation is more complicated.

An Qilong sat silently and closed his eyes and listened. The lawyer continued in a leisurely and detailed manner:

When judging the weight of the voting rights of Tiansheng Capital, the factors we know are the voting rights held by the voters, or the amount of voting rights they hold, the number of directors to be elected, and the biggest variable is the attendance rate of the shareholders' meeting. This must mention the dispersion of Anshi Group's own equity, and the attendance rate plays a decisive role in the voting rights competition between us and Tiansheng so close.

The attendance rate of past shareholders' general meetings of Anshi Group is generally around 35%, not more than 40%. Deducting the participation of the largest shareholder and management and other related parties, the participation rate of retail investors of other institutional shareholders is between 15% and 20%. % range, and this data is basically consistent with the general meeting attendance rate of listed companies.”

With Tiansheng Capital holding 20.46% of the shares, the total shares held by both the offensive and defensive sides is slightly more than 40%. With the participation rate of other institutions and retail investors reaching a peak of 20%, the attendance rate of the shareholders' meeting can be as high as 20%. Reaching 60%, we made relevant hypothetical models with several data in the upper and lower 60% range.

We assume that all shares not held by Tiansheng Capital are the opposites of Tiansheng Capital, then in this most unfavorable situation, the voting rights and attendance rates held by Tiansheng were calculated,

It can be seen from the weighting results that when electing 11 directors, as long as the attendance rate is below 71%, Tiansheng guarantees to win at least 4 director seats. If Tiansheng raises 5% of the board again, it will be in the 65% attendance rate. In this case, Tiansheng can use its existing shares to guarantee at least 5 director seats. If Tiansheng can increase its shareholding ratio to 30% from the market expectation, it can also guarantee 5 directors if the attendance rate is below 65%. seat.

Anqing Lu's face became more and more ugly, and the lawyer added: In addition, even if you want to throw out the 'poison pill plan' now, it is impossible, as long as Tiansheng's shareholding ratio is guaranteed to be above 18%, at 65%. An attendance rate of around % or less can basically guarantee 3 board seats, not to mention that once the 'poison pill plan' is proposed, it will directly push small and medium investors, such as retail investors, to Tiansheng Capital, even if Tiansheng directly opposes it, it can prevent the plan from passing. Because Tiansheng has already exceeded 20%.

The lawyer's interpretation made An Qilong realize a very serious problem, that is, it is certain that Tiansheng Capital has been able to secure 4 board seats in fact, so why is there any reason to spend a lot of money on the second board? The secondary market fights for the remaining 9.54% of the so-called controlling shareholder? With a shareholding ratio of less than 30%, it is not bound by the so-called controlling shareholder, and can be controlled leisurely outside the market. Isn't it happy?

An Qilong believes that he can know this, Tiansheng Capital must know it, and even understand the company's articles of association of Anshi Group. Almost in fact close to success.

As long as next week, Tiansheng Capital will go to the secondary market to scan some goods, and it will be enough to insure the attendance rate of the shareholders' meeting.

The news that An Qilong is most afraid to hear now is the sudden receipt of a notification letter from Tiansheng Capital, requesting an immediate extraordinary general meeting and a vote on the reorganization of the board of directors at the meeting.

The core focus of the competition between the two parties is the control of the Anshi Group's board of directors. As long as the board of directors is controlled, the giant group will be controlled.

Tiansheng Capital's current shareholding ratio may not be able to easily do whatever it wants to do in Anshi Group, but Anshi Group wants to do something big, such as a vote on major corporate matters such as private placement, Tiansheng will not nod. Don't try to pass the proposal, it's basically a one-vote veto from the company.

...

On Thursday, August 13, today's Anshi Group's stock opening auction opened at 16.26 yuan higher + 3.49%.

After the opening of the market, its stock price fluctuated all the way up, and the An family was once again forced to go to the secondary market to scavenge and increase their shareholding ratio. In less than half an hour, the intraday time-sharing line hit the fixed price of 17.29 yuan today. The increase of +9.99% sealed the daily limit.

Anshi Group has ushered in an extreme reversal of the market after the continuous limit down. There is no so-called correction at all. Yesterday, it started directly on the limit down and closed the daily limit on the ceiling. Today, it has stepped out of the second board strongly again.

...

On Friday, August 14th, after opening 8 points higher, the acceleration board's daily limit was directly achieved within five minutes. The price limit reached 19.02 yuan, an increase of +10.01%. The An family did not hesitate to increase their holdings.

On the weekend of this week, after Tiansheng Capital completed its fourth placard, it directly stated its position on the weekend, and the possibility of continuing to increase its holdings will not be ruled out in the future.

With the increasingly fierce battle for controlling rights in the Antian War, the market's attention is getting higher and higher, and some relevant news has also been excavated.

A big melon broke out this Saturday is that Tiansheng Capital leveraged nearly 3 billion yuan in funds of 800 million in the first half of this year, and obtained a huge profit of more than 11.5 billion in just two months. The capital market and small and medium investors were in an uproar.

...