Chapter 2723 The importance of absolute holding

Several people chatted all the way. After getting on the plane, Jiang Xiaobai became sleepy, and Zhang Tingting and Li Longquan also stopped chatting at the right time.

After coming out of Beijing Airport, Wang Zhidong was already waiting to greet Jiang Xiaobai and his party.

"Jiang Dong, welcome and welcome."

Jiang Xiaobai looked at Wang Zhidong with a smile on his face. Wang Zhidong is sensitive in business, but he has too little equity.

Not to mention the rest, at the same time, the founder team of Sohu occupied more than 30% of the shares, and the D class of Wangyi directly occupied more than 50% of the shares.

These are all domestic portal sites, and everyone has this awareness.

That is, the shares held by the penguin's little brother are also more than 50%.

On this side of Xinlang, Wang Zhidong now holds 6.3% of the shares. To be honest, Jiang Xiaobai doesn't know what to say.

It would be strange if you don't feel the seat under your **** is not stable if you sit in the CEO's position. You, the founder and CEO, have the same strategic development direction as the board of directors. It can kick you out.

You don't even need to be strategically inconsistent. People can take care of you as long as they don't like you, because the proportion of shares you hold is too small.

Jiang Xiaobai now holds 9% of the company's shares, which means that Jiang Xiaobai now holds more shares than Wang Zhidong and has become the company's third largest shareholder. If you count some of the shares acquired from the stock market, it has reached 11%.

If Sitong did not acquire it, Jiang Xiaobai would be the second largest shareholder of Xinlang now, but according to the news Jiang Xiaobai got, Sitong still made some moves. There are shares of part of Xinlang.

has now reached the ratio of 13%, and they are still the second largest shareholder.

Compared with the 13.3% held by Hua Deng International, the largest shareholder, it is only 0.3% short of the shares to be able to keep pace.

"Mr. Wang, what is the attitude of the Huadeng side?" Jiang Xiaobai looked at Wang Zhidong and asked after getting into the car.

The original Hua Deng International was an investment introduced by Wang Zhidong. Jiang Xiaobai felt that Wang Zhidong should be able to talk to Hua Deng International.

Hua Deng holds 13.3%. If Hua Deng International supports Wang Zhidong, then add the current 11% in his own hands, plus the 6.3% held by Wang Zhidong. , which adds up to more than 30% of the shares.

has reached the warning line of the listed company's invitation to buy, that is to say, if you control 30% of the shares, then you can invite to buy the company.

The equity control of a company is also graded. For example, in Huaqing Holding Group and Huahua Bank, Jiang Xiaobai owns more than 67% of the controlling stake, which is the so-called absolute control.

At this time, Jiang Xiaobai is equivalent to having 100% of the power. Jiang Xiaobai can make decisions on amendments to the company's articles of association, splits, mergers, changes to main projects, and major decisions. Other minority shareholders are useless at all, although they also have voting rights.

However, according to relevant regulations, the resolutions made by the shareholders meeting to amend the company's articles of association, increase or decrease the registered capital, as well as the resolutions on the merger, division, dissolution or change of the company form, must be approved by shareholders representing more than two-thirds of the voting rights.

Owning 67% of the shares is two-thirds of the voting rights, so Jiang Xiaobai decides with one word, and no one in Huaqing Holding Group and Huahua Bank has the qualifications to oppose Jiang Xiaobai's decision.

The relative controlling stake is more than 51%. This is the control line, which basically controls the company. This is because the company law stipulates that the resolution of the general meeting of shareholders must be approved by more than half of the voting rights held by the shareholders present at the meeting.

As long as the ratio reaches 51%, at this time, the company's strategic decisions and the like can be completely controlled by oneself.

And owning 34% of the equity is a line in the company's operation. Contrary to absolute holding, absolute holding owns 67% of the equity, which can be resolved for the company's affairs, including amending the company's articles of association, including dissolving the company, etc. etc. etc.

But having 34% is relative, and you can have veto power. Simply put, as long as it reaches 34%, I can't do anything, but if I don't listen to me, I can do bad things.

30% of the listed company's tender offer line, 20% of the major horizontal competition warning line, 10% of the right to temporary meetings, you can raise questions, investigate, or dissolve the company.

The warning line for major equity changes of 5%, which is usually said, after the acquisition of more than 5% of the shares of a company, it is necessary to raise a placard, everyone knows it.

There are still 3% of the right of temporary proposal, 1% of the right to hold a small meeting in advance and the right of subrogation, also known as the right of derivative action.

The issue that Jiang Xiaobai is considering on Xinlang's side is definitely not 67% of the absolute controlling stake, nor 51% of the relative controlling stake, because the situation on Xinlang's side is more complicated.

What he thinks is that if the shareholders who support Wang Zhidong's side have a shareholding ratio of 34%, then the rest of the people are against it and also consider their side's opinions, because they can make trouble on their side.

In simple terms, it is a comparison. The barefooted are not afraid of wearing shoes. If you do not listen to me, then I will oppose it for the sake of opposing it and hold you back.

The current situation is that Hua Deng International was introduced by Wang Zhidong. If Hua Deng International stood with Wang Zhidong, the three companies' equity would have reached more than 30%. It can reach the limit of 34%.

"If Huadeng International supports you, we will be invincible. I have already contacted Softbank. Softbank holds 4% of your shares. If the acquisition is completed, Let's not say sit back and relax.

But to a certain extent, it can determine the company's strategic goals. "

Jiang Xiaobai looked at Wang Zhidong and asked, but he didn't expect Wang Zhidong's face to be very ugly.

"Jiang Dong, I can't grasp the thoughts of Hua Deng International, and I don't know their thoughts. I have contacted several times before, but they have been a little wandering.

didn't promise me, but I don't think they are necessarily on the side of Sitong, they are investment companies from Citigroup, similar to Goldman Sachs

Wang Zhidong said, Jiang Xiaobai was expressionless and did not comment on Wang Zhidong's words.

(end of this chapter)