,!

While waiting for information, the development of the Bailida incident further reflects the challenge to the existing mechanism of the Hong Kong securities industry.

After the special shareholders meeting of Bailida passed the resolution to acquire New Zealand Securities, the major shareholder, it will have to spend more real money. As the leader of the small shareholders who opposed the acquisition - the shareholding ratio is 10%.

The 5.5 Liz Investment Company did not surrender, so there was a decisive battle at the Bailida General Meeting of Shareholders.

On the surface, why Liz Investment Company is so persistent is because there was an arithmetic problem at the Special Shareholders Meeting of Bailida, which is thought-provoking.

It is true that the special shareholders' meeting of Bailida passed the resolution to acquire New Zealand Securities, the major shareholder of Bailida, with a support rate of 61%. However, about 100% of the shareholders who participated in this special shareholders' meeting of Bailida

Eighty percent, converted to a support rate of about 48% for all shareholders, minus the 34% voting rights of the major shareholder New Zealand Securities, how much is left? About 10%

fourteen!

According to Liz Investment Company, 31% of the minority shareholders opposed the acquisition of New Zealand Securities, the major shareholder of Bailida.

The strategy of Liz Investment Company is to win the support of shareholders and drive away the four directors who have interests in New Zealand Securities through the general meeting of Bailida, including executive directors Fan Lianden, Jia Peide and others, and even simply take down the board of directors of Bailida.

Chairman Fan Peter.

After Bailida made such a big acquisition, the Hong Kong Stock Exchange must have suspended trading in accordance with regulations. In response to Bailida's board of directors being disobedient, Ma Shiheng, president of the Xiangjiang Stock Exchange, publicly stated that since

New Zealand Securities was acquired by Bailida, and from father to son, New Zealand Securities will no longer have the right to vote at Bailida's general meeting of shareholders. If it continues to refuse to comply, Bailida may suspend trading indefinitely.

Therefore, it is hard to say who will win this Bailida General Meeting of Shareholders. It is truly a decisive battle. Bailida's board of directors and Liz Investment Company are doing their best to win the support of small shareholders.

The Australian boss on the Board of Directors of Bailida is indeed very evil. He made a murderous move and ordered a New Zealand-headquartered Bailida shareholder to sue in the New Zealand court and apply for an injunction to prohibit including the agents of Xianji Bank from benefiting.

Five agents, including the Feng Bank agent, the Hengsheng Bank agent, and the Youlian Bank agent, voted for the shares of Bailida held by the five agents. The reason was that the five agents did not disclose it. The total amount was 0.0%.

The ultimate beneficiary of 4.7% of Bailida shares.

Since the lawsuit was used, it was natural that the New Zealand court made an unexpected ruling and prohibited the voting of the shares held by these five agents.

The media in Xiangjiang immediately started talking about this move by the Board of Directors of Bailida. It was said that Bailida shares held by these five agents were very likely to support Liz Investment Company, and it was abolished in the end.

It was lost. The 4.7% support that Liz Investment Company had in its mouth was gone in one fell swoop.

Liz Investment Company was not stunned, and immediately launched a counterattack. The Australian ghost boss on the board of directors of Bailida would use the court method, and so would we. Don't forget, Bailida was registered in Bermuda, and immediately filed a complaint with the Supreme Court of Bermuda.

The court applied for an injunction to prevent the general meeting of shareholders of Belida, which had been taken advantage of by the Australian ghost boss on the board of directors of Belida, from convening as scheduled, and requested a ruling on the voting rights of the shares of Belida held by the five agents.

The Supreme Court of Bermuda did not disappoint Liz Investment Company and issued a ruling prohibiting the holding of the general meeting of shareholders of Bailida as scheduled, and determined that the Bailida shares held by five agents had voting rights.

The situation is now deadlocked. Who will Xiangjiang listen to when deciding the two courts?

Bailida is registered in Bermuda, first listed in Hong Kong, and second listed in New Zealand. This kind of pattern will only become more and more common in Hong Kong, as an international financial center. Now if there is a little problem that is not solved clearly, it will create

Countless remaining issues.

The elites in Hong Kong's regulatory agencies, securities industry, media observation, theoretical and academic circles, etc., can be described as being completely numb. Such a complicated wrangling situation has never been encountered before, and there is no case reference.

One thing to say is that the Hong Kong government under the control of Mr. Gui did not do anything. The Financial Secretary of the Hong Kong government still sent people to New Zealand and Bermuda for business trips to communicate. But because of this, it became more and more clear that the future was

Bright, as long as you can afford it!

It’s self-evident how far apart New Zealand, Bermuda, and Hong Kong are physically. The cost of money, time, etc. just to travel back and forth is a bit prohibitive.

But this situation is obviously beneficial to the Australian ghosts on the board of directors of Bailida. After all, they have basically completed the sale of New Zealand securities to Bailida in terms of procedures.

However, it is the small shareholders of the Xiangjiang stock market whose interests have been harmed, and it is the Xiangjiang securities industry that has lost all its authority.

The Xiangjiang media has paid great attention to the issue of the interests of small shareholders being sacrificed. The reason is actually quite simple. In the past, everyone was satisfied if they had something to eat; but now, they are not just satisfied with filling their stomachs.

Problem.

If a Hong Kong-listed company registered overseas like Bailida cannot be controlled like this, who can bear it?

This is a time to test your wisdom and must be solved on the spot. It must not become a bad example for other listed companies in Hong Kong!

Hong Kong Securities Regulatory Commission, don’t just talk. The thunder may be loud and the rain may be small, but what about your actions?

Damn you, the Xiangjiang stock market is so developed and claims to be among the top six in the world. Why are the regulatory agencies and laws so backward?

The spokesperson of the Hong Kong Monetary Authority quickly responded and explained that to be precise, there is no Hong Kong Securities Regulatory Commission yet, there is only the Provisional Hong Kong Securities Regulatory Commission, and its main task is preparation. The Legislative Council has not yet passed the Hong Kong Securities Regulatory Commission Regulations. Gao

Jazz can only wait...

As for Sir Gao's family, hurry up and urge the Legislative Council.

In order to promote the establishment of the Asia-Pacific Economic Cooperation, Sir Gao is on a business trip in Southeast Asia. He believes that as long as the Asia-Pacific Economic Cooperation takes shape, it can reach a set of legal frameworks to help solve the regulatory issues of international companies involving multiple markets.

.

…

Sir Gao, who has been talked about by countless people, is preparing to return to Hong Kong from Southeast Asia. On the one hand, the progress is in line with expectations and the work goal has almost been achieved. On the other hand, many people in Hong Kong are urging him to go back and clean up the mess, either explicitly or covertly.

The impasse in Lida is embarrassing.

While outside, Gao Xian had been paying attention to the developments in Xiangjiang, including the argument that now was the time to test his wisdom.

To be honest, Gao Xian has nothing to do with the deadlock like Bailida. If I had the trump card and energy like Midi, I would have a long-arm jurisdiction over it.
Chapter completed!