Home » More than 10 times the number of participants!Longxing Chemical Co., Ltd. united more than 200 small and medium shareholders to pass the “pressing line” of the fixed increase in A shares_Stock Channel_Securities Star

More than 10 times the number of participants!Longxing Chemical Co., Ltd. united more than 200 small and medium shareholders to pass the “pressing line” of the fixed increase in A shares_Stock Channel_Securities Star

by admin

(Original title: The number of participants has exceeded 10 times! Longxing Chemical has united more than 200 small and medium-sized shareholders to pass the A-share fixed increase proposal by “pressing the line”)

Source: Financial World

Author: Liu Yue

Longxing Chemical held an extraordinary general meeting of shareholders, and the on-site voting shareholders were enthusiastic.

On the morning of June 13, the third extraordinary general meeting of Longxing Chemical in 2022 was held in Shahe City, Hebei Province. A total of 277 shareholders and shareholders’ authorized representatives participated in the on-site meeting and online voting of the meeting, including shareholders and shareholders who participated in the on-site meeting. There are 254 authorized representatives and 23 online voting shareholders.

Statistics found that the number of shareholders participating in this meeting was 10 times that of the past. Since the beginning of this year, Longxing Chemical has held two extraordinary general meetings of shareholders, with only 21 and 28 participants.

Why did this meeting attract the attention of minority shareholders?

According to the announcement, Longxing Chemical’s shareholders meeting reviewed the “Proposal on the Company’s Eligibility for Non-public Issuance of A Shares”, “Proposal on the Company’s Non-public Issuance of A Shares in 2022”, and “On the Development of the Company’s Next Three Years (2022)”. 8 proposals including the Proposal for Shareholder Return Planning from 2024 to 2024.

According to the regulations, 1-7 of them are special resolution matters, which need to be reviewed and approved by more than two-thirds of the total number of voting shares present at the general meeting, that is, the approval ratio must exceed 66.67%. The 8th proposal, “Proposal on Amending the Administrative Measures for Affiliated Transactions of Longxing Chemical Co., Ltd.” can be passed by only half of the votes.

See also  Africa: NGO, the continent's mining industry must be put at the service of the energy transition

Due to the large number of abstentions in the above-mentioned 8 motions, the proportion of consenting votes nearly reached the standard. The voting results show that the number of votes in favor of the 8 motions is about 156 million shares, accounting for 67.7%-67.8% of the shares held by all shareholders present at the meeting.

As of the end of March 2022, 9 of the top ten shareholders of Longxing Chemical are natural person shareholders, and the second largest shareholder “Bohai International Trust Co., Ltd. – Jixing No. 3 Single Fund Trust” abstained from voting. The number of shares held 72.629372 million shares.

It is not difficult to find that in the case of the second largest shareholder abstaining from voting, if the Longxing Chemicals fixed increase proposal is to get the required approval ratio and the proposal will pass the meeting, it is necessary to unite the majority of small and medium shareholders, which also explains why the shareholders this time. The reason for the high attendance at the conference.

Longxing Chemical is mainly engaged in the production and sales of carbon black, white carbon black and coal tar products. According to the company’s A-share fixed increase plan disclosed on May 28, it plans to non-publicly issue no more than 147 million shares, and the total amount of funds raised does not exceed 16.04 100 million yuan will be used in Shanxi Longxing Carbon-based New Material Circular Economy Industry Project (Phase I).

On the secondary market, as of the close on June 14, Longxing Chemical reported 5.49 yuan per share.

See also  ATMs blocked, chaos throughout Italy. Here are which banks give problems

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy