Chapter 1836: Chapter 1454: The Outlook Is Not Optimistic?!
The Shengsheng International shareholder eting has entered the second half, with the main agenda being the selection of a new executive director. As usual, the host begins by explaining the rules.
Apart from the previously ntioned rules concerning free share transfer on the spot, only the top three largest shareholders are eligible to run, and the withdrawal of Zhengdong Province from the selection, the host also introduced one special rule.
If the first shareholder holds shares equivalent to or exceeding 150% of the shares held by the second shareholder, they are deed to possess absolute controlling interest. Additionally, if they receive support from over 80% of employee votes, they can directly beco the executive director of Shengsheng International.
No one, including the shareholder eting, has the right to oppose.
Of course, this special rule is generally considered nearly impossible to achieve by many.
Initially, in terms of shares, even after dilution, Zhengdong Province and Luo Zitian still hold the most shares, with each possessing 25%. Therefore, 50% of the shares have been taken. The remaining shares are held by the top ten shareholders with about 25%, new shareholders with 10%, and the veteran employees in attendance holding only about 15% due to share dilution.
Under these conditions, reaching or exceeding 150% of the second shareholder’s shareholding, according to the current 25% held by Zhengdong Province and Luo Zitian, requires at least 37.5% of shares. This doesn’t even consider possible share transfers from the second shareholder, which could further increase the necessary share acquisition for the first shareholder.
Who could achieve this!
Regarding gaining support from over 80% of veteran employees’ votes, perhaps Zhengdong Province could easily accomplish this, but without running, he cannot recruit votes, which ans that even those he brings along might not receive the veteran employees’ support.
After all, that person is not Zhengdong Province himself!
Luo Zitian confidently sits in the audience.
In his view, the rule could be optional – the executive director at Shengsheng International will ultimately be selected from three candidates competing!
These three major shareholders require varying support votes based on their shareholding ratio.
For example, holding 30% of shares might only require 50% of the votes from the entire venue to be deed “qualified,” while holding 20% might require support from over 60% of votes.
The excess votes from each candidate will be compared to determine the victor, and the value of those excess votes is not equivalent.
Simply put, the more shares one holds, the fewer votes are needed, and the value of excess votes is higher.
The calculation is based on a formula that is recognized by the shareholder eting; following it will suffice.
In any case, the larger the shareholding, the greater the chance of winning.
Luo Zitian is confident about this.
“Next, we will begin the share transfer phase, and we will tally the top three largest shareholders.” The host announces.
It is well known that veteran shareholders bring in new shareholders to not only attract investnt but also leverage the new shareholders’ shares to increase their own shareholding and run for executive director.
Of course, they can also transfer their own shares to new shareholders to promote them.
These actions are permitted by the rules.
Obviously, after transfer, the holdings of both new and veteran shareholders cannot be zero.
Just as the host’s voice fades, soone in the front row raises their hand, and then that person stands up and turns to the crowd, “I am the current third-largest shareholder, and regarding the election for our company’s executive director, I’m abstaining!”
This person directly chooses to withdraw.
Everyone is in an uproar.
Of course, this is considered a wise move.
After all, the next phase is a showdown between Luo Zitian and Zhengdong Province’s supporters. He lacks the strength and doesn’t want to offend either, so what is the point of not withdrawing?
So no one on the scene is surprised.
“Quite self-aware.” Dong Tianlu chuckles from the audience, “Just lacking so competitive spirit, missing so aggression!”
Dong Tianxiu touches his chin, murmuring, “So next, it’s a contest between Luo Zitian and my brother Bai, supported by Zhengdong Province.”
Though Dong Tianlu hasn’t said much, she still informs Dong Tianxiu that Luo Zitian is the person they support.
With Bai Xiaosheng assisting Zhengdong Province, and since Zhengdong Province cannot be re-elected, naturally Bai Xiaosheng will be put forward.
Therefore, the second half of the eting essentially boils down to a head-to-head between these two.
“That’s right, who do you think will win?” Dong Tianlu glances at Dong Tianxiu, smiling as she asks.
“I obviously support Bai Xiaosheng!” Dong Tianxiu answers with absolute certainty and adds, “Zhengdong Province is the founder of this company, with imnse prestige. You just saw, all the veteran employees flock to talk with him, showing how strong his reputation is. With his support, I believe my brother Bai has a greater chance of winning!”
Dong Tianlu starts laughing.
“Isn’t that so?” Dong Tianxiu feels a bit uneasy.
Usually, when his sister shows this smile, it indicates that she is extrely confident about the outco.
At the mont, seeing her laugh like this, she must know sothing he doesn’t.
Dong Tianxiu feels sowhat anxious.
“Just wait, there’s going to be a surprise!” Dong Tianlu turns her gaze towards Bai Xiaosheng’s direction and smiles, “If he feels confident, Luo Zitian will surely give him a big surprise!”
After hearing this, Dong Tianxiu becos even more worried.
With the third-largest shareholder withdrawing, the remaining top ten shareholders are also aware of themselves and remain silent.
After the host confird there were no issues, he said, “Let’s first invite Mr. Zheng to the stage to say a few words.”
User Comments
0 comments from readers