Chapter 1830: Chapter 1449: The First Half of the eting (Major Chapter) (2)
Another ten minutes passed, and a middle-aged man in formal attire strode onto the stage, holding a microphone in his hand.
The man first politely greeted everyone present, saying he was the host of today’s eting, and asked everyone to quiet down, ntioning that the eting was about to start and he would first explain today’s eting rules.
This eting today has indeed pulled at everyone’s heartstrings; with the host’s announcent, the crowd naturally quieted down quickly.
The middle-aged man first briefly outlined the eting’s agenda, which is divided into two parts.
One part is the selection of new shareholders, and the other part is the replacent of the executive director.
The host began with the first part of the agenda, talking about the principles for selecting new shareholders.
It’s not just about having money and support for new shareholders to beco part of Shengsheng International.
There are nurous audits they must pass, and this is carried out during the eting with everyone witnessing it.
First, new shareholders must be recomnded by old shareholders who rank in the top ten by shareholding percentage. Each old shareholder only has one recomndation slot, and each recomnded candidate needs to pass a vote by the top ten shareholders, with six votes required for preliminary approval.
Secondly, the investnt amount of the new shareholders and the proportion of shares are requirents, but they can compete for slots by offering “additional investnt without taking shares” to outdo others…
Because there are only five slots for new shareholders.
In other words, regardless of whether the voting results in six, seven, or even eight to ten new shareholders, only five will remain in the end.
The ranking is first by number of votes, with the top two by votes directly elected.
The remaining candidates, regardless of the number of votes, will have to use the additional investnt without shares to distinguish themselves and win opportunities.
This rule may sound bizarre at first, as new shareholders are investing real money and silver to get real shares, throwing money away just for a shareholder slot is unbelievable…
But in today’s eting, this is indeed the rule.
After all, new shareholders will take a portion of shares, which equates to diluting the shares of old shareholders, so they are naturally not happy.
Hence, new shareholders must chip in!
Those qualified to beco new shareholders actually agree to such terms.
Shengsheng International is exceptional, developing rapidly over the years with remarkable potential, worthy of their investnt to hold shares as new shareholders.
The host further ntioned that new shareholders could participate in the second half concerning the contest for the executive director of Shengsheng International!
The candidates for the new executive director are subject to strict requirents, needing to be in the top three among all shareholders in terms of stock holdings, and must deliver a speech on-site to win the support of the people before taking on the role.
The host stressed that Zhengdong Province, due to “certain reasons,” cannot continue in his position, and he personally agrees.
At this point, the originally silent hall suddenly erupted into noise.
Old employees and minor shareholders were all emotional, shouting “why” “unfair,” and expressing their strong discontent, speaking up for Zhengdong Province.
Seeing this, the host could hardly suppress the scene.
Luo Zitian initially wanted to assert his authority, commanding everyone to be quiet.
However, upon seeing the situation, he faltered as well.
Eventually, the host had to seek Zhengdong Province’s assistance.
Actually, all the old employees combined only hold twenty percent of the company’s shares. No matter how indignant they are, they can’t change the big shareholders’ decision.
But if the clamor continues like this, there’s no way the eting can proceed.
“Everyone, quiet down!” Ultimately, Zhengdong Province had to step forward.
Once he spoke, the scene quickly quieted down.
“I thank everyone for your trust and support, but this is a decision by the permanent shareholder council, which I must adhere to, as per the rules. However, I urge everyone to patiently watch on, as I’m confident there will be an outco that satisfies everyone!” Zhengdong Province said.
The old employees present may ignore the big shareholders but can’t ignore the man they respect, and they quieted down imdiately.
Such a scene inevitably evokes admiration; in Shengsheng International, Zhengdong Province holds unrivaled prestige in the hearts of old employees.
After Zhengdong Province cald everyone down, the host continued to lay out the rules for the second half concerning the election of a new executive director.
Shares can be transferred on-site between new and old shareholders, but regardless of the transfer in or out, one cannot transfer all shares completely, or else they will lose their shareholder status…
This ans if Zhengdong Province, Luo Zitian are willing, they can transfer the majority of shares to allow a new shareholder to imdiately beco the largest shareholder and compete for the executive director role.
After all, new shareholders hold limited shares in their hands.
The arrival of new shareholders signifies the dilution of old shareholders’ shares; if it weren’t for Shengsheng International’s fragile cash flow and high-risk period lately, old shareholders wouldn’t agree to bring in new forces to share the risk.
Of course, old shareholders have a compensatory plan, although it won’t be disclosed to everyone present.
What the host is saying is essentially to inform the minor shareholders present.
The key shareholders in attendance are already aware since they collectively passed the information.
With the host concluding the explanation of the rules, the eting officially began.
The first person to take the stage was Luo Zitian.
Luo Zitian first went through the formalities and then introduced the new shareholder he brought in.
This was a vigorous middle-aged man nad Liu; his deanor extraordinary.
His identity wasn’t simple either, being an outstanding entrepreneur holding a business that ranks among the top five hundred dostically.
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