In the "9 · 28 after the special shareholders ' meeting" was vying GOME (00493.HK) non-listed stores divided in two sides then proposed unbundling (Nov. 1) arrival, both evaded.
However, GOME shareholder Huang guangyu family aspects in combating SEO trouble again after an attack to the Board of Directors.
Two days ago, Huang guangyu wife, bail from prison of the cuckoo in public that the past year, Gome's strategic direction and management of a serious problem, GOME Chairman Chen responsible, exit the Board of Directors. And stressed that does not exclude further proposed convening an extraordinary general meeting of shareholders.
Remove or not to remove?
Huang guangyu private lawyer Zou xiaochun external confessed, "9 · 28", the largest shareholder and have numerous contacts with the United States, but the other has been the largest shareholder of the "package" negotiation is not positive enough, delay, continue to marginalize, damage the legitimate interests of the founding shareholders.
Therefore, the shareholder side stressed that, within a reasonable time, if there is no progress in consultation will consider terminating the non-listed managed, and once again proposed to convene an extraordinary general meeting of shareholders.
"Now splits the non-listed companies, the initiative in the hands of the shareholder.
"A GOME persons yesterday to reporters.
Non-listed on GOME stores of unbundling, the oldest from 27 August, shareholder holding of Beijing guomei to Gome listed companies published a circular, circular, if the shareholder's motion failed in September 28 of shareholders general meeting, shareholders will terminate listed companies and non-listed companies between procurement and management agreement.
It is close to the person who said he had family, 30 August, Chen to Gome, on behalf of the Board of Directors to shareholder return a circular, circular that listed companies from 31 October to start automatic termination and non-listed companies such as managed protocols of procurement.
However, this circular does not publish announcements listed companies in the United States. Have the sources pointed out that, although the circular stamped seal of GOME, but mainly by Chen incite, has not been approved, the Board of Directors did not notice the end. Maybe you can see from this point, the United States is not monolithic, its Board of Directors, management and investment interests also exists between the kink.
The "shareholder of the original circular is to say, if we move all has not been passed, the non-listed companies co-operating with the termination of the license agreement take effect automatically, but if it was simply a part of the move, we will at one time, introduce new programmes.
"Large shareholders, spokesperson, the largest shareholder of the new programme, is the so-called" basket "of the programme, including Chen must exit, replacement Board member 2 GOME and adjust the GOME development strategy.
However, GOME still implies, according to the shareholder in GOME listing non-competition agreements signed by the shareholder shall not be carried out with the listed company, once non-competitive market store is split, and become the second home "GOME" shareholder violates the original agreement, in accordance with the relevant provisions, Huang guangyu family status must be the major shareholder and split non-listed assets to choose between competing.
GOME community that, regardless of the choice means that the motion of large shareholders had let myself fall into the "thin ice".
Major shareholders and does not endorse this statement.
Their spokesperson, listed and there is no relevant provisions. Someone pointed out that according to the original listing agreement, as long as the shareholder's share in more than 30%, even if split out non-listed shop, just not listed in the GOME stores open new store in the region, and vice versa.
"This is also the ' bent ' Board of Directors of United brewing SEO plan to shareholder's equity dilution to 30%.
"Shareholder spokesman said.
But it is worth noting that, Lo and big brand is still in the United States regional superiority of non-market stores in Shanghai and Beijing shop, this will also be listed on the store for the future non-independent business challenges.
GOME's next step?
However, from the current perspective, Huang guangyu family hands still holding two Trump.
It is still a shareholding of more than one-third of the founder and major shareholder status, this equity advantage, represents it in the articles of Association, the listed criteria, repeatedly proposed the convening of the extraordinary general meeting. And in each proposed the convening of the extraordinary general meeting, shareholders may draw in the secondary market, even though the new chips cannot exceed 2%, but with the current 32.7%, will reach 34.7%.
Then, if you attend the general meeting of shareholders or low-performing party support rate is below 50%, also face the risk game.
In fact, the last two weeks, the CSA continues to external release sale guomei etc assets message, perhaps in as xichou reserve funds.
Second, the largest shareholder at detonate the bomb "non-listed shop, despite the GOME" currently has nearly 800 stores, but more than 370 non-listed shop is GOME attract capital market is one of the chips, even Bain Capital also expects to be injected into the listed companies.
Huang guangyu family representatives to release new news is that large shareholders are prepared to take over this part of the assets that are already doing a team, ERP systems, online, financial preparation, business development planning, etc.
It even has outlined the future growth objectives: the next five years, 200 the total number of urban, the store will be $ 750, revenue is expected to be $ 45 billion. Of these, the number of target stores, almost equal to the GOME coming five years, half of the scale.
"The CSA is issued a new signal.
"A well-known consultant said, if you can not reach the end, it may be announced after the separation, in GOME existing sites to open new stores, both sides will be in direct competition, but must also be accompanied by the GOME brand licensing of complex challenges.
If this screen does appear, GOME
Real losses. It will not be able to get about 2 billion managed fee, net profit from this will decline by 15% or more. Also, you will face the risk of losing their brand, although we have Lo, sub brand, but in the short term impact may not go beyond the original GOME. This will be the intolerable investment institutions.
But the consultation stressed that Huang guangyu family also suffered heavy losses, according to the laws of the past six years, the threat issued whenever Huang guangyu family, GOME share price decline in basic woodwork, last Friday was once fell nearly 7%, which means that the shareholder Huang guangyu book wealth losses.
If the two sides continue to fight, the CSA may finally won the "face", a "dull".
Even its old adversary suning appliance a high tube has been lamented that a volatile GOME, not in line with China's overall interests 3C chain retail trade, foreign investment is stepping up its layout, do not want the market to them more use of opportunity.
According to the third quarter of SUNY press, suning has evolved over the last few months of opening a store speed significantly increased. As of the third quarter, suning in mainland China, Hong Kong, Japan market with chain-1235. Because of the GOME third-quarter financial report has not yet been published, suning now stores listed with GOME already number plus the total number of non-listed company stores and even basic rather than slightly.
