Chapter 905 Shareholders Meeting
"John, are you crazy?"
After John Smith returned home, he was faced with Jenny's doubts.
"What's wrong?"
"I just learned that you are going to give up the controlling stake of Sinclair Group to Vanguard Group?"
After hearing Jenny's words, John Smith's expression showed no tension, but he said relaxedly:
"That is for the development of the company, Jenny, and the control is still in my hands. We signed an agreement..."
He held Jenny’s hand:
"Why, haven't you always been interested in the company's affairs?"
"Yes, but that doesn't include handing over the controlling stake to someone else. Although your brothers and sisters didn't say anything, they still called me and asked about it. How else do you think I knew?"
"Oh, don't worry, I will explain it to them."
John glanced at his watch and said to Jenny:
"Thank you for your concern for me, honey. I have booked a restaurant today. Can we go out to eat together?"
"John, if we need to acquire the company for the development of the company, then Barron is our friend and has been cooperating with my brother. He can provide funds..."
It seems that Jenny is not going to let this topic go:
"Don't you know what the nature of those people on Wall Street is? Think about Megan Bank before. What they are best at is taking away those family companies and then selling them at a good price!"
"Barron?"
It seemed that John Smith was finally a little impatient. He stood up, looked at Jenny, and said coldly:
"Do you think he has no purpose? Why do you think the Pilot Group will plot against me, but he won't? Is it because he slept with you?"
"John!"
Hearing what he said, Jenny's face immediately turned cold:
"We have already talked about this matter, do you have to put these things together?!"
"Besides that, I don't know any other reason to trust them more. Have you forgotten how they behaved when I was investigated before? And that Ivanta, they are all the same, I can There are more options!”
Seeing John so excited, Jenny asked doubtfully:
"Why would I think so? At least Barron and the others did not threaten the Sinclair family's controlling interest in the company, and don't forget that he helped you when you were in the most difficult time..."
"Help me? It's just that I haven't told you the specific situation. Those help are not without price, Jenny."
"Then you can tell me now what's going on..."
Facing Jenny's questioning, John began to feel impatient. He walked to the hanger, picked up the suit, and said:
"Maybe it's not the right day for us to talk about these things, I need to calm down, baby."
"Are you ready to leave just like that?"
"Yes, everything will be over tomorrow. I will make it clear to you then."
Seeing John Smith just walking out of the door, Jenny couldn't help but throw the pillow in her hand to the ground.
After a long while, she took a deep breath, picked up her phone, and searched in her address book...
…
Monday, May 6th.
On this day, a shareholder meeting was held at the Sinclair Group headquarters in Baltimore, Maryland.
The rules regarding shareholder meetings vary from state to state in the United States, but the general process is similar.
The convening of a shareholders' meeting requires the participation of shareholders holding more than 50% of the shares for its resolution to be valid.
The attendees of this shareholder meeting include John Smith, a representative of the Sinclair family, Ivanta, a representative of IC Capital, Wang Wanting, a representative of DS Holdings (Cavendish Trust), a representative of the Pilot Group, and a representative of Fidelity Investments.
The shareholdings represented by these people are close to 80% of the total share capital of Sinclair Group. The remaining shareholders, including other members of the Sinclair family including David Smith’s widow, did not attend. The rest are circulated in the secondary market. Fragmentary holdings in the market.
In fact, the resolutions that need to be voted on at today's shareholders' meeting, in accordance with relevant regulations, have been communicated to all shareholders before the shareholders' meeting.
Therefore, they are very clear about the motion discussed today.
After everyone arrived in the conference room, as the host of this meeting, John Smith, chairman of the Sinclair Group, cleared his throat and announced that the board of directors had officially begun, and his secretary distributed today's motion to everyone people.
"Everyone already knows that I am planning to cooperate with the Pilot Group to acquire the Forum Media Group, which owns 42 TV stations. I have communicated this plan with all the representatives attending the meeting before today. I believe everyone has already made specific plans for this. It’s clear.”
Looking around at the shareholder representatives sitting in the conference room, especially at the representatives of Ivanta, Wang Wanting and the Pilot Group, John Smith paused for a moment and continued:
"Next, we will vote on this proposal through today's shareholders' meeting. First of all, on behalf of the 22.5% of the company's shares held by the Sinclair Family Trust, I support this plan..."
He took out a document and said:
"In addition, this is the authorization document from my brother Quentin Smith and sister Barbara Smith. Together with my own shares, a total of 7.75% of the company's shares also express support for this plan..."
So far, just John Smith's speech has increased the proportion of shares supporting this plan to 30.25%!
"Now everyone is invited to vote."
As John Smith finished speaking, there was a moment of silence in the conference room.
Just as several shareholder representatives were making eye contact with each other, the Sinclair Group representative said to Wang Wanting:
“I wonder what DS Holdings’ opinion is?”
Wang Wanting also just arrived in the United States from London yesterday, but she seemed to have a good rest. She did not refuse and said directly:
"We are disappointed with this plan and believe it is not in the interest of our DS Holdings. Yes, we are opposed to it."
“It’s really not surprising.”
After hearing Wang Wanting's words, John Smith said lightly.
DS Holdings holds 14.5% of Sinclair Group's shares, and the current ratio between the two parties is 30.25:14.5...
Next, everyone's eyes turned to IC Capital. After all, everyone here knew the relationship between Ivanta and the British Duke behind DS Holdings.
However, Ivanta was not in a hurry. She looked at the representative of Fidelity Investments and asked:
“I wonder what Fidelity Investment’s attitude is?”
Regarding today's shareholders' meeting, perhaps the most indifferent person in the conference room was the representative of Fidelity Investments. He did not refuse and said directly:
"We support the development of Sinclair Group, but we believe that more communication is needed on the specific content of this proposal, so we abstained."
After the other party finished speaking, a faint smile appeared on John Smith's face, and he looked at Ivanta, the representative of IC Capital, again.
This time, Ivanta did not delay any more, and she said neatly:
"As the major shareholder of Sinclair Group, IC Capital is puzzled by the chairman's proposal to exclude other major shareholders, and believes that this plan will harm the interests of other shareholders, so we oppose it..."
Regarding Ivanta’s statement, John Smith shook his head:
"I hope Ms. TP can understand that we chose Linghang Group to cooperate because they can provide indispensable help in this merger and acquisition..."
In this regard, Ivanta just spread his hands and didn't want to say anything more.
Just because IC Capital's shareholding ratio is 15.5%, plus DS Capital, which holds the same position, the total shareholding is only 30%, and the vote now comes to 30.25:30...
As for the representative of the Pilot Group who had not yet spoken in the end, he directly expressed his support afterwards.
37.25:30!
It was clear that John Smith and Vanguard had the majority of the vote.
"If that's the case, then I'm happy, the results of our vote are gratifying..."
