Shocking waves!
The sky is boiling!
Deafening!
The fierce speech from Sina's largest shareholder since its founding shocked everyone present.
The entire conference hall presented two completely opposite scenes.
The directors on the stage were filled with indignation. Chairman Jiang Fengnian, who had been silent, couldn't help but speak, but his words were drowned in the noisy discussion of Sina's middle and senior management, shareholders and shareholders' clients.
Fang Zhuo was sitting on the left side of the stage. They didn't say a word, they all waited patiently for the scene to quiet down.
Duan Yongji looked at this scene, and the rage in his heart suddenly cooled down briefly.
The different behaviors of different people at critical moments can often determine the direction of many things.
At this time last year, founder Wang Zhidong was facing removal from office and went into the bathroom out of control for half an hour. During this half hour, Duan Yongji took the opportunity to initiate a vote without giving him a chance to come back and speak again, resulting in a fait accompli in the number of votes.
How similar is it at this moment?
However, Duan Yongji, who has gone through ups and downs, is not Wang Zhidong. He didn't even sigh for a second and quickly thought about the current situation and opponents.
Today is different from last year. Even though Fang Zhuo got 34.52% of the shares today, he is still in the minority and there is no large-scale alliance to force the palace like last year.
only……
This guy fucking sits in the Sina office and participates in many board discussions!
Duan Yongji cursed in his heart and glanced at Wang Yan again unconsciously, this time he got an innocent look from him.
The co-chairman suppressed the unavoidable doubts and decided to change the previous strategy. If Sunshine Culture wanted to protect it, Wu Zheng wanted to protect it, and they had to die to protect it!
The conference hall gradually became quiet.
Duan Yongji looked at Fang Zhuo.
Fang Zhuo also looked at Duan Yongji.
Duan Yongji's voice was very steady, not at all flustered by the other party's sonorous shouts:
"Fang Zhuo, you are deliberately thinking."
"You took great pains."
"You worked hard."
“If you can’t build your own website, then you will try to steal Sina’s achievements!”
“Sina’s board of directors will never give in!”
Duan Yongji slammed the table and gave a tough stance.
He had never faced up to this young man whom he regarded as a junior, and therefore he was particularly aware of his weaknesses. He was still a little too young, and it was difficult to convince others.
Sina has almost always had a dispersed shareholding. The reason why it was able to unite and kick out the founder was that there was a person with a powerful status in the world to liaise with them.
The other party's equity is only more than 1/3 and not more than half. It is impossible to force the proposal to pass, but it is indeed too big to lose. Now the only thing is to scare this young man before we can talk slowly.
Duan Yongji's mind was very fast, and he considered the discrepancy between Fang Zhuo's previous words and the two demands made by Davis, and it was more likely that it was a dispute of temper.
He clearly remembered that Davis's request was to "explain the cooperation between Sina and Sunshine Culture" and "re-elect the board of directors," which was different from what Fang Zhuo said.
Fang Zhuo in the audience sneered when he heard such accusations.
He asked rhetorically: "I am a major shareholder of Sina. You are neither the chairman, nor the president, nor the CEO. Why do you represent Sina?"
Fang Zhuo called him by his first name: "Duan Yongji, you have to speak to me from your shareholding position!"
Duan Yongji was so angry that others didn't know, but he knew that the other party's holdings included the shares he had transferred, and because of this operation, he was unable to participate in the additional issuance this time, and his holdings were weakened in disguise.
He forced himself to calm down and thought silently in his mind, fighting with his will, fighting with his will.
Fang Zhuo looked at the other directors on the stage and called them by name: "Mr. Jiang, you are the chairman. Doesn't the largest shareholder have the right to know about the company's major matters?"
He continued unceremoniously: "Mr. Mao, you are the president of the company. Why don't you explain the cooperation situation to everyone at the general shareholders' meeting on the 10th? Is there any benefit transfer here?"
Fang Zhuo then named him: "Mr. Wang, you are the CEO of the company..."
Wang Yan, who finally came to his senses, calmly accepted the question when he heard his name being called.
However, Fang Zhuo paused mid-sentence and changed his tone to a gentler tone: "Mr. Wang, you should know the situation."
At this moment, all the directors on the stage looked at Wang Yan. Why should they treat him differently?
The executives and shareholders in the audience also looked at the CEO, thinking thoughtfully, oh, this might be a group.
Wang Yan was stunned for a moment, and when he wanted to speak out, he saw that the person on the other end had already changed.
The fourth and last person named by Fang Zhuo was Wu Zheng. He was not angry or raised his voice. He just said lightly: "Mr. Wu, the shareholders' meeting did not explain the situation, but I believe you and I both know Sunshine Culture in our hearts."
Regardless of the success or failure of cooperation with Sina, is there any point in continuing?”
Wu Zheng remained silent, his eyes avoiding Fang Zhuo.
Fang Zhuo commented: "If I were you, I would be embarrassed to sit on it."
He added: "Mr. Wu, do you think it's just Yike Investment that is dissatisfied with this cooperation?"
Wu Zheng suddenly stood up and looked at Fang Zhuo.
Duan Yongji, who was next to him, grabbed Wu Zheng's arm at the right time. He knew that this guy from Xiangjiang had a soft temper, so he had to pull him in, otherwise he would be kicked out by Fang Zhuo.
"Fang Zhuo, what are you doing here!" Duan Yongji also defined Fang Zhuo as being unruly rather than a commercial act. "It's impossible for your proposal to pass!"
Fang Zhuo reached out, took the handed document, and threw it on the table with a "pop" sound.
Different from words, this is a formal proposal with legal protection.
"cast!"
"Vote for me now!"
"I would like to see which shareholders don't even want to know about the major events of their own company!"
Fang Zhuo was wooing the other shareholders present with his words.
This is righteousness.
Someone made a similar request at the shareholders' meeting on the 10th, but Duan Yongji rebuked him at that time.
But Duan Yongji was able to suppress the small shareholder, and Fang Zhuo was not going to do that today.
Duan Yongji's eyes froze for a moment. Fang Zhuo had even prepared a formal proposal. He was not the kind of man who made a big fuss, but the kind of man who came with a knife to see blood!
The conference hall was quiet for a few seconds, and then there was a low buzz of discussion.
Sitting on it, Duan Yongji could easily see the whole scene, and saw that this time there were many small and medium-sized shareholders talking to each other.
Just when he felt that something was wrong, the door of the conference hall at the end of his sight was pushed open and someone came in.
Duan Yongji breathed a sigh of relief and stood up to greet him.
The discussion atmosphere in the conference hall was interrupted by this action.
Considering the hostile takeover by foreign investors from the MIGA Fund, Duan Yongji specially prepared administrative side pressure for this extraordinary shareholders' meeting and invited the director of the General Office of the Ministry of Information Industry to be present.
For some unknown reason, Director Liu arrived late.
However, arriving early is worse than arriving wisely. What is prepared for MIGA can also be used by Fang Zhuo. Young people are arrogant and domineering, how can they know the influence of status in the world.
Duan Yongji walked along the aisle, greeted Director Liu with a smile, and shook the leader's hand vigorously.
Director Liu explained in a low voice: "There is a traffic jam on the road, so there is no delay."
Duan Yongji also whispered: "No, no, Director Liu, please come forward."
Witnessing this scene in the conference hall, I knew that a leader was coming.
Because it has been more than a week since MIGA Fund proposed to convene an extraordinary general meeting of shareholders, both online and print media have been talking about "hostile acquisition of domestic online news by foreign capital".
Therefore, it was not too unexpected that the leaders came to the scene, but everyone was shocked by Fang Zhuo becoming the majority shareholder and the sharp contradiction he displayed.
At the same time, many people also recognized the leader present, Director Liu, the counterpart of the Ministry of Information Industry.
Sina's business involves news publishing, which is an area that must be controlled by policies. It is also a factor that must be discussed in recent public opinion when talking about hostile takeovers.
Regardless of careful planning or painstaking efforts, it is indeed great to be able to seize the opportunity to acquire Sina's shares.
But the influence and connection with administration cannot be achieved simply by holding shares.
With the appearance of the leader, the directors, some senior executives, and shareholders on the stage all calmed down from the storm brought about by Fang Zhuo's appearance.
Director Liu, accompanied by Duan Yongji, walked along the aisle. He felt that the atmosphere at the scene was a bit tense, and he also saw a group of foreigners, which was expected.
However, before he reached the first row, Director Liu suddenly saw a familiar face.
The leader stopped and Duan Yongji also stopped.
Director Liu only took one second to confirm who this face was. Hey, isn't this Fang Changyi from Shanghai?
When I accompanied Mr. Wu to inspect the company, I saw with my own eyes the message "It is advisable to keep an eye on the future." Later, because of the relationship with the department, I also visited the construction of informatization in the medical field many times.
Director Liu’s responsibilities include not only the General Office, but also the Information Technology Promotion Department.
He greeted somewhat strangely: "Mr. Fang, why are you here?"
Director Liu was confused. Is Guahao.com related to Sina? Even the player seems to have no business relationship with Sina, right? And why is this person sitting with a foreigner?
"Director Liu." Fang Zhuo also stood up and walked to the aisle. He shook hands with the leader naturally, "I am Sina's major shareholder, I should be here."
Director Liu was shocked: "Sina's major shareholder? When did it happen?"
Fang Zhuo smiled and said: "It's been a while. This extraordinary shareholders' meeting was held at my request. It involves some major matters of Sina that are not satisfactory."
Director Liu was startled. He turned his head and looked at Duan Yongji: "Isn't it for the MIGA fund?"
Duan Yongji was also surprised at the acquaintance of the two people, and felt bad about it, so he did not answer this question.
Fang Zhuo, the client, replied: "I founded the MIGA fund."
Director Liu was startled and confused. He couldn't figure out the situation for a while. But since Duan Yongji didn't refute, it was impossible for Fang Changyi to lie to him in person.
He realized that the situation had changed drastically, nodded slowly, and continued to move forward.
When he sat in the front row, the leader felt puzzled. If things were going well externally, this situation... business behavior, internal conflicts.
He couldn't help but look back. This time he saw not only the upright Fang Zhuo, but also another person he knew, Wang Zhidong, who used to squat at the door of the unit.
Director Liu frowned, glanced at Duan Yongji on the stage, and made up his mind to watch.
The atmosphere in the conference hall changed strangely at the two points when Duan Yongji shook hands with the leader and Fang Zhuo shook hands with the leader, from cloudy and rainy to hot and depressing.
Duan Yongji returned to his position without speaking.
Fang Zhuo did not speak in the audience, but he signaled lawyer Martin to come on stage and place the formal proposal in front of Chairman Jiang Fengnian.
"The board of directors cannot explain the company's major events."
"There is no need for such a board to exist."
Fang Zhuo's harsh words turned into a slanting wind and drizzle, but the meaning of his words remained unchanged.
The directors on the stage gave no answer, and the executives and shareholders in the audience were silent.
The scene became tense.
Fang Zhuo snorted coldly, picked up the microphone, stood up and looked around the conference hall, asking: "Does anyone else have a proposal?"
No one answered.
"The meeting is adjourned and we will vote tomorrow."
"If you can't vote tomorrow, you will vote the day after tomorrow."
Fang Zhuo put down the phone.
A group of people behind him stood up and prepared to follow.
Duan Yongji's voice floated down from the stage: "Fang Zhuo, don't be delusional. It's impossible to pass!"
Fang Zhuo turned sideways: "Say it's useless, just vote and I'll see the results."
Duan Yongji sneered.
Fang Zhuo looked at this person's sneer and said loudly: "If the investment results are not satisfactory to me, after the shareholders' meeting is over, let MIGA go to the court to apply for dissolution of the company, and then continue to invest."
Shareholders holding more than 10% of the shares have the right to petition the court to dissolve the company.
Duan Yongji said angrily: "How dare you!"
Fang Zhuo walked along the aisle to the first row, shook hands with Director Liu, and politely left before replying at the end.
"you try."
A group of people from Yike Investment, MIGA Fund, and Cadwalader Law Firm left.
Suddenly an area became vacant in the conference hall.
Even after the person left, the arrogant phrase "Try it" seems to still be hovering in the sky, highlighting the sharp contradiction between the company's major shareholder and the board of directors.
The directors were silent, the executives were in tears, the villains were roaring, and the Sina wave was shaking.
…
The news of Sina's extraordinary general meeting of shareholders could not be concealed at all. It quickly spread throughout the industry and was presented to those who paid attention to the matter.
The originally expected hostile takeover by foreign private equity turned into Fang Zhuo becoming Sina's major shareholder and demanding the dissolution of the board of directors.
Everyone, without exception, was confused and shocked.
MIGA fund is not foreign investment at all?
Was it founded by Fang Zhuo?
The other two of the three major portals were the most shocked.
NetEase's Ding Lei was waiting for Sina news with great interest that day. Suddenly, he received information about MIGA and Fang Zhuo. He was completely confused. Is this going to end up at his own expense?
MIGA Fund not only holds Sina shares, it also holds 10.2% of NetEase!
Ding Lei received a call from Sohu Zhang Chaoyang in extreme shock.
"Mr. Ding, MIGA belongs to Fang Zhuo, the same Fang Zhuo from the Registration Network, the same Fang Zhuo we met on CCTV!" Zhang Chaoyang couldn't hide the shock in his voice.
"I just found out." Ding Lei couldn't express his mood.
"MIGA also holds 5.4% of our shares in Sohu." Zhang Chaoyang couldn't help but confirm, "It also holds a lot of shares in NetEase, right?"
Ding Lei replied: "NetEase is very safe."
He holds more than half of the shares and is not afraid of hostile takeovers.
Zhang Chaoyang: "..."
Sohu, Sohu is relatively safe.
A few seconds later, he said: "Hey, I want to communicate with the board of directors, so that I don't even know that a knife was inserted into my forehead when I was called on!"
The call ends.
Ding Lei held the phone and thought about the messages he received. It felt like a dream... Sina? Duan Yongji? Fang Zhuo?
During this period, Yongji hunted geese all day long, and today the geese pecked his eyes!
This Fang Zhuo is too arrogant!
This chapter has been completed!