Rebirth of England.

Chapter 906 This is impossible
"Wait a moment!"

Just as John Smith was about to announce the result, Ivanta suddenly said:
"I have another document here..."

Just as Ivanta said this and actually took out a document, the smile on John Smith's face froze visibly.

"It should be pointed out that IC Capital's shareholding in Sinclair Group is not 15.5%..."

Ivanta seemed to be just talking about something insignificant, but to John Smith and the representatives of the Navigation Group, it didn't seem like the case.

But at this moment Ivanta didn't even look at them, but continued:

"We signed purchase agreements with Ms. Sophie Smith, Duncan Smith and Robert Smith respectively last Wednesday, acquiring the holding company of their shares in Sinclair Group through an offshore company. However, for some reasons, the agreement was just notarized this morning and officially took effect."

Sophie Smith is David Smith's widow. Ivanta's words indicate that the shares of the other three members of the Sinclair family are now owned by IC Capital...

John Smith took the document that Ivanta showed him and looked at the contents. Just as Ivanta said, they did not directly acquire the other party's shares, but completed the acquisition of the holding company of those shares. Therefore, before that, it would not be reflected in the changes in Sinclair Group's shareholdings...

"Impossible, this is impossible!"

John Smith muttered. He had clearly signed an agreement with the three men, in which they promised not to sell their shares...

Thinking of this, he immediately said:

"This agreement is invalid!"

"Oh? Mr. Smith, I want to remind you that this document has been approved by the company's legal counsel, so..."

"But I have signed an agreement with Sophie, Duncan and Robert. They cannot sell their shares. Your agreement is completely invalid."

Hearing John Smith's words, Ivanta said with a smile:

"As far as I know, the agreement you signed was that you were not allowed to sell or entrust the stocks they held after that, right? When did you sign the agreement?"

"Last Friday!"

"It seems that you didn't listen carefully to what I just said, but you can take a look at the date of this acquisition document. We signed the acquisition agreement on May 5, which was last Wednesday..."

"F**K, these bastards!"

At this moment, John Smith finally understood why those three people signed the binding agreement for money after rejecting his request to buy their shares... How could he know at that time that they had already transferred all the shares including the holding company before that...

Although the representative of the Navigation Group did not behave as out of control as John Smith, his expression was still very ugly.

It is obvious that the other party had already received the news before they notified them of the acquisition plan. Who leaked it?
As Ivanta took out this document, it meant that IC Capital's shareholding in Sinclair Group increased from the previous 15.5% to 7.75% with the 23.5% acquired from three members of the Sinclair family!

Together with the 14.5% stake held by DS Capital, the shareholding ratio against the proposal has become 37.75%...

That's 37.25 percentage points higher than the 0.5 percent stake controlled by John Smith and Vanguard.

This 0.5 percentage points alone determined the outcome of today's shareholders' meeting - John Smith's proposal was rejected.

But things don't end here.

Ivanta looked at John Smith coldly and said:

"I propose to hold another shareholders meeting in a week to vote on the candidate for chairman." "You!"

Ivanta ignored John Smith and took a deep look at the representative of Vanguard Group, catching the panic in his eyes. Then she smiled at the representative of Fidelity Investments and said:

"I believe that Mr. John Smith is not qualified to perform his duties as chairman of Sinclair Group, so I will initiate a vote of no confidence in him at the shareholders' meeting next week and elect a new chairman."

According to the relevant company laws, each company must hold a shareholders' meeting at least once a year, but there is no limit on the specific number of times a meeting can be held. If there are major issues that require voting, a meeting can be held at the initiative of shareholders holding a considerable proportion of shares.

Just like the vote of no confidence in the chairman proposed by Ivanta, it naturally requires a vote at the shareholders' meeting.

Ignoring John Smith, who was sitting dejectedly on the chair after being angry, Ivanta nodded to everyone and walked out of the meeting room.

Wang Wanting, who represented DS Holdings, also seconded the motion and left - it seemed that she would have to stay in America for another week.

But at least I can take this opportunity to go to Lanai Island and meet His Royal Highness the Duke...

……

Speaking of which, Barron and his team's response this time was somewhat lucky.

It was also during his last meeting with John Smith that he realized something was amiss, so he asked the intelligence agency headed by Nigel Inkster to investigate the other party.

Finally, from John Smith's private contacts with the Navigation Group, we made some guesses and took precautions in advance.

As for Vanguard's attempt to take control of Sinclair Group, logically speaking, from Vanguard Group's perspective, there may not be anything excessive.

After all, the business world is like a battlefield, and there must be corresponding strategies for the acquisition or holding of a company.

There is no reason to allow you to acquire other companies but not allow others to acquire the company you control.

But reason is reason, and many times it is not enough to just talk about reason.

The reason why Barron resisted the urge to question Vanguard Group's chairman, McKenna III, about this matter was that he did not want to alert the other party before the Sinclair Group's shareholders meeting.

More importantly, he was very angry at the other party's direct attack without even saying hello - as the saying goes, one punch is better than a hundred...

Barron also wants others to see that there is a price to pay for such an offense against himself.

But at the same time, Barron was also thinking about a problem - he also handed this problem over to his think tank for research.

That is……

Why did Vanguard choose to attack Sinclair Group at this time? Why did it use Tribune Media Group as bait?

Baron knew that in his previous life, Sinclair Group did acquire Forum Media Group, a subsidiary of Fox. However, that was six years later, after Murdoch had decided to sell 21st Century Fox to Disney. Because of conflicts with Disney's sports channel ESPN, he decided to sell Forum Media Group, which mainly focused on local sports channels, to Sinclair Group.

So why choose now to facilitate Sinclair Group's acquisition of Forum Media Group? There is a lot of work to be done, at least on the FCC (Federal Communications Commission) side, it is not so easy to deal with.

Although he has now successfully blocked the other party's plan, Barron still needs to figure out the reasons behind it.

(End of this chapter)