Urban Life: I Just Want To Work Hard!

Chapter 216: The Poorer The Better

Chapter 216: The Poorer, the Better

"Uncle Guo, I've been researching the development history of the group these past few days. Our family has almost lost control of the board of directors, mainly because of the gambling agreement from a few years ago," said Li Mubai, sitting on the sofa in the office of the President of China Resources Group, sipping tea and flipping through documents, occasionally asking questions.

Now promoted to Chairman of the Board, Guo Qiang was not only not in a hurry, but also very happy and diligent in explaining.

"That is indeed a major reason. At that time, the real estate market was booming, it was an unprecedented prosperous period. In order to quickly crush the competition, your father bought a lot of land and had to take large-scale financing measures, signing equivalent agreements with several investors such as Fossil Fund. But who could have predicted that the policy would suddenly adopt unprecedented high-pressure regulation, causing the real estate industry to fall into a downturn. Year after year, it got worse, resulting in many projects suffering losses on a large scale, failing to meet the profit standards stipulated in the agreements, and ultimately losing a lot of shares in the company," Guo Qiang talked about this past event and couldn't help but sigh. "It turns out that Chairman Li already had a strategy to appease the investors, but unfortunately he didn't live to see that time... sigh."

"In addition, when your father was alive, in order to ensure that he would not lose control of the group, besides ensuring that his own shares had double voting rights, he also signed agreements with some shareholders, such as 'voting rights delegation' and 'concerted action'. According to the agreements, these two agreements actually transferred the voting rights to the shareholders, ensuring the core position of the board of directors and the group. Now that your father has passed away, these agreements need to be modified," Guo Qiang explained.

Li Mubai thought for a moment and said, "But I remember that in a concerted action agreement, the true controlling shareholders were my father, my mother, and me. Now that my father's shares have been inherited by my mother and me, I don't understand why they have joined forces to remove my mother."

After hearing this, Guo Qiang's approving look in his eyes became even stronger.

What a miracle!

The young master who had always been willful and playful, this time he really wanted to turn over a new leaf and work hard. In just a few days, he had learned such difficult business data.

This was enough to prove that what he said to himself in the hospital was not empty words, but a genuine desire to revitalize China Resources Group!

"There is another huge hidden danger, you could say that this hidden danger is like a blade hanging over our necks!" Guo Qiang suddenly became excited and said, "In addition to the gambling agreement, there is also a small portion of major investors who have the right to sell. In other words, one party can propose to buy a portion of Mr. Li and his wife's shares, and as long as the price reaches the agreed price, they must transfer the shares. Of course, they are not the ones who want to buy, this requires the majority of shareholders' agreement."

"So, at the shareholders' meeting that day, on the surface, it was a discussion about whether your mother could continue to hold power, but privately, everyone tacitly believed that if an agreement was reached, the investors with this right would directly propose an acquisition until they expelled you and your mother from the board of directors."

"I understand, I understand," Li Mubai nodded incessantly.

In short, Mr. Li's economic means, to put it mildly, is called not being satisfied with swallowing an elephant, and vulgarly speaking, it's digging a hole to bury oneself!

Digging so many holes is also fatal. Any random hole is enough to bury the whole family!

Coupled with the extremely depressed real estate market, Mr. Li's sudden murder at this time, a series of coincidences have led to the current predicament of the Li family.

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