The conference room was on the top floor. Chen Mo and his party came to the company, and a staff member led them to the top-floor conference room...
Today seems to be the first all-shareholders meeting of Hehehe Animal Husbandry since its establishment. This company has many shareholders, but there are only twenty-seven shareholder representatives.
Chen Mo was still the chairman of the company, so he sat directly in the chairman's seat and then took a look around the conference room...
There were many people attending the shareholders' meeting today, and some small shareholders who were lucky enough to be drawn also came to listen.
The opening should be the chairman's speech... Chen Mo took the manuscript John prepared for him and read it... It was nothing more than an affirmation of the company's development, and also pointed out some shortcomings...
Cohen spoke next. He is the company's CEO. He opened the table and read carefully the past performance of River Valley Animal Husbandry.
"The Wells Fargo Asset Appraisal Organization has valued River Valley Dairy at US$2.662 billion. The valuation includes fixed assets, intangible assets, product patents, etc. The company currently has US$370 million in its account... to ensure next year's development plan
, we can allocate 100 million US dollars as dividends this year. Please vote on whether to distribute dividends..." Bright said.
Chen Mo looked at Moxi and said, "I agree to the dividends."
"I agree..." Moxi and Chen Chen said.
The voting rights of the shareholders' meeting are determined at the early stage of the company's establishment, based on the share ratio. The three of them represent 29.1% of the shares...
"I don't agree with dividends. Hehehe Animal Husbandry Company needs to develop rapidly, otherwise it will be easily eliminated by the market..." said a representative of Huafeng Group.
Waylon and Barbera, which hold 30 percent of the shares, also disapprove of dividends.
Chen Mo was speechless. He didn't expect these three companies to be at odds with him. What a shame...
Chen Mo frowned and looked at the representative of Huafeng Group: "You stand up to object, does your chairman know?"
Wang Zhimin, the representative of Huafeng Group, who serves as the strategic development manager of Huafeng Group, stood up with an embarrassed look on his face, saluted Chen Mo, and sat down quickly.
I'm going to...
Bright smiled: "I am also opposed to dividends."
"be opposed to……"
They are all small shareholders, and representatives of stockholders. Counting Bright, these people hold only 13.2% of the shares in total.
Finally, there was the representative of Nestlé. Everyone looked at them: "We are in favor of dividends. There is nothing wrong with dividends as long as it does not affect the development of the company." Nestlé wants to sell Chen Mo well and hopes that both parties can continue friendly cooperation.
In St. Beni, it was Valley Ranch and Chen Mo who had the overall control.
Nowadays, Valley Ranch is the same whether it has St. Beni or not. Valley Ranch supplies the entire St. Beni's forage, and the price is super cheap... It seems that they can even make more money by selling the feed grass as industrial forage.
This is a very embarrassing thing...
Comparing St. Beni to a very large cake, if the cake is cut into 33 parts, they, Nestlé, eat almost 12 parts. Valley Ranch eats 7 parts. And Valley Ranch only eats 12 parts.
Less than 3 shares...the rest are distributed to the farmers in St. Beni. This distribution method is obviously unreasonable...
The shares held by Chen Mo and those held by Nestle add up to more than 1%.
Bright smiled bitterly: "This time the dividend will be paid in cash. If you hold one share, you will get $1.38. Anyone who has any questions can ask it now."
"River Valley Dairy and Valley Ranch are going to merge and now pay dividends. Is this to dilute our shares?" the owner of Kalai Ranch stood up and said.
"The merger of the two will open up a certain number of financing shares. If you want to increase your shareholdings and invest in the new River Valley Animal Husbandry Company, you can come and subscribe for shares." Bright said: "The merger of the two is good for us, and it is more beneficial.
Development of the Saint-Bénie area.”
"Excuse me, is the merger of the two companies annexing Valley Ranch by Valley Ranch, or Valley Ranch annexing River Valley Ranch? In what form will the company be managed in the future, and will it harm the interests of current ranchers..."
Brett looked at Chen Mo and then at Moxi...
Moxie stood up: "Valley Ranch is not a philanthropist. But I can guarantee that after the merger of Valley Ranch and Valley Pasture, the price of pasture will definitely increase, but it will also leave enough profits for the St. Beni area, at least
The profit is 50% higher than that of traditional pastures. Now in the St. Beni area, the average profit of a fattened Dorper sheep is about 500 US dollars. Such high profits have caused dissatisfaction in the market... After the merger
The company will open a financing gap to ensure that existing shareholders of Hehehe Animal Husbandry can buy the shares they want, and then start preparations for listing..."
Moxi talked about the plan of the new company, which will integrate the company with all the ranches in the St. Beni area. Residents and ranches in the St. Beni area can invest in the new company as long as they have money... At the same time, the new company will also invest in regional ranches.
, forming a situation of mutual benefit and common development...
The new company increased feed prices, but still left enough profits for local farmers, at least much better than those of pastures in other areas.
St. Beni has regulations on the construction standards of pastures. It has a river valley ecosystem and one acre (6 acres) of land can raise 3,036 sheep or 57 cattle.
The small pastures are about 100 acres each. One small pasture raises 3,000 Dorper sheep and makes profits of over one million. It can be seen everywhere.
No one denies that the money is too much. Now almost every day, people come to the Saint-Bénie district and want to invest in ranches. The extension of the Saint-Bénie district has developed more than 20 kilometers south of the Drai Valley. But look at all this is provided
The valley pastures that support it are extremely profitable...
Next, there was a show of hands to vote again. Some people were willing to merge, while others did not agree to the merger... Chen Mo agreed, the tbl alliance also agreed, and Bright wanted it more...
"River Valley Animal Husbandry Asset Appraisal Report, US$2.662 billion, a total of 10,000 shares. Each share is worth US$36.95. This is the valuation before dividends..." Bright looked at Chen Mo.
This is very embarrassing, and I don’t know what standards the Wells Fargo Asset Appraisal Department used to evaluate the valuation.
Valley Ranch also underwent an asset appraisal, with a valuation of only US$2.491 billion.
This valuation is seriously underestimated. In fact, the main reason is that Valley Ranch has been laying out its plans before, and its production capacity has not been released, so the valuation is naturally low.
There is a fixed model for asset evaluation, and it does not mean that you should give whatever valuation you want.
The valuation of Valley Ranch is 2.662 billion, while the valuation of Valley Ranch is only 2.491 billion. Chen Mo will definitely not accept such a valuation... Finally, the output of Valley Ranch in the next three years is used as the valuation of Valley Ranch...
That is the output of the Delai Valley, Moro Valley, Santana Valley and Calabash Valley in the next three years...
A total of 70,000 acres of sweet elephant grass, 20,000 acres of alfalfa, and 10,000 acres of ryegrass have been planted, with a total area of 100,000 acres. The output calculation method is not based on the current output price, but on the standard market price.
…
For 70,000 acres of sweet elephant grass, sold to paper mills in California, the price of 1 ton of older sweet elephant grass is 147 tons (the ranch pays the freight). Another example is alfalfa, the market price of 1 ton of relatively high-quality alfalfa is 235
Around US$ 7.00. Only output is calculated, not production costs... An approximate estimate is given at US$ 7 billion.
This is a seriously overestimated valuation, but if the shareholders of Hehehe Animal Husbandry do not accept this valuation, Chen Mo will not prepare to merge... In the future, even if he only sells forage at market prices, Chen Mo will still be able to make a lot of money. After the merger,
The benefits of going public are obvious. If Chen Mo maintains the status quo without merging, there will be no loss...
The merger of large companies is very troublesome for companies with separate equity. But the merger of Hehehe Animal Husbandry and Valley Ranch is relatively simple... Valley Ranch is privately owned by Chen Mo. Hehehe Animal Husbandry has many shareholders, and only a few big ones have the right to speak.
Shareholders and small shareholders have no say. They must either agree or withdraw their shares...