Through the wealth life

Chapter 417 Confrontation on the Board of Directors

After several days of preparation, Wooden Szehuaiya and Guo Lingming held a board meeting on the afternoon of the 9th, and the topic was the sale of shares in Cathay Pacific Airways.

This time, Gan Qin and Wang Xinyu also went to Swire to attend the board meeting. Their goal was very clear, that is, to prevent the Shi Huaiya family from selling their shares, especially to Huazi Group, which was planned by Li Guangyu. It is a red line that Xiangjiang Airlines can take advantage only if Cathay Pacific is in the hands of other consortiums.

In the past two days, the actions of Lei Jianbin, the deputy financial director of Cathay Pacific, have also achieved initial results. Zhao Wenhua, the deputy general manager of the company, has agreed to work in Xiangjiang Airlines, and he can also lead a group of pilots there. It can be said that Xiangjiang Airlines The company's small fleet of aircraft is operational.

At the meeting, Wooden Shuaiya elaborated on the problems Cathay Pacific is facing today, including the financial difficulties of Swire Pacific, and proposed to sell Cathay Pacific shares in exchange for cash to expand the development of other industries of the company. It is hoped that the shareholders present will able to support his decision.

Gan Qin said: "Mr. Shi Huaiya, we disagree with you. Cathay Pacific is still the overlord of Xiangjiang's aviation industry, monopolizing Hong Kong's aviation services, and the future aviation market will become bigger and bigger. Such a high-quality industry It is definitely not what our company should sell. Currently, the world shipping industry is facing a cold winter, and I think disposing of the company’s ocean transportation business is more conducive to the company’s development.”

How could Wooden Shihuaiya deal with the ocean transportation industry? His Swire Group is mainly engaged in trade, which serves the Swire Group.

Wooden Shuaiya said: "Ms. Ganqin, the sale of Cathay Pacific is definitely the best choice now. Please don't harm everyone's interests for your own selfishness. You have to know that this company is not only For us and your Li’s consortium, this is still Xiangjiang’s stockholders who control our company’s stock, and we still need to be responsible for their interests.”

Gan Qin didn't expect that Wooden Shihuaiya would move out of Xiangjiang stockholders to oppress her. This problem is really not easy to deal with. Once such news spreads from the outside world, it will be a huge blow to the reputation of the Li Group.

Ganqin said: "We formally maintain a responsible attitude towards shareholders, and only suggested that the company sell the ocean transportation company, so as not to affect the company's development due to the huge losses. Cathay Pacific is currently making a good profit. I think There is no need for this company to be sold."

Wooden Shihuaiya knew that it would not work to negotiate with the Li consortium to sell the shares of Cathay Pacific Airways, so he did not have any illusions about it. He came up with the plan he had discussed with Guo Lingming, so that the Li consortium could not Restrict them from selling their stocks.

Wooden Shihuaiya said: "Ms. Gan, due to the development needs of Cathay Pacific Airways, we will separate Cathay Pacific Airways from Swire and re-divide the equity of Cathay Pacific Airways in order to seek market share. IPO, and your group owns the shares of Swire Pacific, the shares of Cathay Pacific Airways will be assigned to your Lee consortium according to this ratio, and your lawyers and financial departments are also invited to participate in this change of the shares of Cathay Pacific Airways.”

Gan Qin and the others did not expect that Wooden Szehuaiya would promote the listing of Cathay Pacific Airways in order to sell their own stocks. You must know that the current market situation in the stock market is not good, and they will lose a lot of profits in this way.

And this time Ganqin and others really can't stop them, this time they don't use Taikoo to control the shares of Cathay Pacific Airways, and divide the 70% shares of Cathay Pacific in proportion to the current shares held by each shareholder in Taikoo When it comes to the various families, the shares of the Li's consortium will not play a big role in the situation there.

Once the plan proposed by Wooden Shuaiya is implemented, the Lee consortium's shareholding in Cathay Pacific Airways will only be 20.00%, and the impact on Cathay Pacific Airways will be very small.

Gan Qin said: "Mr. Shi Huaiya, this plan is too complicated. Our major shareholders are fine, but how do you make decisions about the shares of the outside investors. Moreover, the current market conditions are not conducive to the listing of the company. I suggest that we can discuss this issue slowly.”

Guo Lingming said: "I support Mr. Shi Huaiya's opinion. Regarding Cathay Pacific Airways, since several of our shareholders have disagreements, it is good for everyone to separate them. If the Li's consortium thinks that Cathay Pacific Airways , then you can take over the shares we transferred out, so it won’t embarrass everyone.”

This is a plan that he and Wooden Shihuaiya have thought about for a long time. Since there is a rule in Swire Holdings that the transfer of the shares of a subsidiary must be approved by two-thirds of the shareholders. At that time, this regulation was made to protect the interests of the Shi Huaiya family, but it has become a clause restricting them now.

After the shares are divided, once the listing is launched, they will find institutions to raise funds, and they can give up some of their shares. It becomes impossible for the Li's consortium to prevent them from selling their shares.

Wang Xinyu said: "You are doing this irresponsibly. How do many shareholders who hold our Swire stock company choose, and how do you allot shares for them at that time? At the same time, once Cathay Pacific Airways becomes independent and the shares are not If we belong to Swire Holdings again, the stock market value of our Swire Holdings will definitely plummet, which will be quite detrimental to the development of Swire Holdings.”

Wooden Shi Huaiya said: "Ms. Wang, Mr. Guo and I already have a complete solution in this regard. Although the market value of Swire Pacific will shrink, it will not affect the interests of all shareholders, so you can rest assured .”

When Ganqin and the others saw Wooden Shuaiya, they were determined to sell the shares of Cathay Pacific Airways, and they probably couldn't stop them.Now we can only delay the time as much as possible on the division of equity, and at the same time let Li Sheng complete the operation of the airline quickly, otherwise it will be really difficult to handle.

Gan Qin said: "Mr. Shi Huaiya, this matter is too important to be decided by the few of us. We will report your proposal to Li Sheng. Please also consider the interests of our shareholders and suspend the decision in this regard." operate."

Wooden Shi Huaiya is not willing to let the Li's consortium delay the time. He knows that the Li's consortium is already discussing the purchase of aircraft with Boeing and Airbus. If you wait for a while, I am afraid that the Li's consortium does not care whether the shares are sold or not. up.

Wooden Shihuaiya said: "On the issue of equity splitting, as long as more than half of the shareholders agree to the operation, this aspect is not restricted by the consent of two-thirds of the shareholders. Your group lawyers can study the company in detail. Mr. Guo and I both agree with this treatment, so your objection is useless, this time we are just notifying you, and please arrange for financial and legal personnel to come over tomorrow to carry out the division of Cathay Pacific’s equity.”

Gan Qin said with a cold face: "Mr. Shi Huaiya, do you have anything to do with the board of directors today? If not, we will leave. Don't worry, our lawyers and accountants from the Li Group will come to Swire Corporation tomorrow to do the accounting. The shares that belong to our Li Group."

Gan Qin was in a bad mood, and it was obvious that what Li Sheng had told her could not be completed, so she could only go back and ask Li Sheng what to do next.

Seeing the unhappy expressions of these few people, Wooden Shihuaiya was very excited in his heart. Since these few became directors of the company, his mood has never been better.

Wooden Shi Huaiya said with a smile: "Ms. Gan, today is mainly about Cathay Pacific Airways. Now the meeting can end. If you are busy, you can leave now."

……

(End of this chapter)