On the one hand, the stock price has risen by the limit for several consecutive days, and on the other hand, the company’s employee stock ownership plan has been greatly reduced. This unusual situation has attracted the attention of the exchange. On March 23, Songdu Co., Ltd. (600077) received an inquiry letter from the Shanghai Stock Exchange. Before that, another inquiry letter sent by the Shanghai Stock Exchange to Songdu Co., Ltd. has not been replied by the company.
The background of this incident is that on the evening of March 22, Songdu shares announced that the company’s 2018 employee stock ownership plan had sold 32,429,200 shares on March 22, and the remaining shares were about 600,000 shares, which have not yet been sold. termination. Earlier, Songdu shares disclosed that it planned to advance 1.6 billion yuan to participate in a lithium extraction project from a salt lake in Argentina, but during the board of directors’ deliberation, three independent directors of Songdu shares abstained from voting on the above proposal.
The reporter noticed that since March 14, that is, after the disclosure of the above-mentioned capital advances, Songdu shares have increased the limit for 7 consecutive trading days. However, on March 23, the company’s stock price closed at the limit. An announcement that night showed that , the company’s 2018 employee stock ownership plan has been fully sold, which means that the above-mentioned about 600,000 shares will be liquidated within one day.
The Shanghai Stock Exchange stated that the above-mentioned reduction of holdings has been widely concerned by the market and investors, and has put forward regulatory requirements on the company. The Shanghai Stock Exchange requires that Songdu should further verify the specific reduction of the two employee stock ownership plans, including but not limited to the composition and shareholding of the employees of the employee stock ownership plan, the management and benefit distribution mechanism, and the background of this reduction. As well as the decision-making process and participants, the specific time, quantity and price of this reduction, as well as subsequent reduction arrangements, and fully remind relevant risks.
The reporter noticed that during the period of abnormal fluctuations in the stock trading of Songdu, the company repeatedly disclosed that directors, supervisors, and senior management did not reduce their holdings of the company’s stock, and also made it clear that no other major events that might have a greater impact on the company’s stock price were found. The Shanghai Stock Exchange requires Songdu to conduct a self-examination and explain whether the previous information disclosure is true, accurate and complete, and whether there is any inconsistency in the previous and previous information disclosures, in light of the reduction of the employee stock ownership plan.
As mentioned above, the inquiries from the exchange previously received by Songdu have not yet been replied. The Shanghai Stock Exchange stated that in the early stage, your company disclosed that it planned to advance 1.6 billion yuan to participate in the construction and operation of a salt lake lithium extraction project in Argentina. , the company has not responded yet.
The Shanghai Stock Exchange requires that Songdu should strictly follow the requirements of the inquiry letter to verify the recent direct or indirect reduction of holdings by the controlling shareholder and its persons acting in concert, actual controllers, directors, supervisors and senior management of the company and other relevant parties, and the subsequent reduction arrangements, and On this basis, the purpose of this transaction is explained.
The reporter checked the previous announcement and learned that in the previous inquiry letter, the Shanghai Stock Exchange required Songdu to make additional disclosures on the decision-making and commercial rationality of the project, the related risks of the project and the source of funds. Songdu Co., Ltd. stated in the relevant announcement of the extension of the reply to the inquiry letter that the above-mentioned matters need further verification and improvement, and it is temporarily impossible to reply and disclose within the specified time. great uncertainty.
In the latest inquiry letter, the Shanghai Stock Exchange also required Songdu to conduct a comprehensive self-inspection of the previous insider information management and control, verify the company’s directors, supervisors and senior management, controlling shareholders and actual controllers, transaction counterparties, other relevant parties and their directors, supervisors and senior management, major Recent stock transactions of shareholders, actual controllers, and insiders with insider information such as close relatives of the aforementioned objects.
The Shanghai Stock Exchange stated that all directors, supervisors and senior management personnel of Songdu should be diligent and conscientious, verify the relevant issues involved in the inquiry letter as soon as possible, speed up the work progress of replying to the inquiry letter, urge the company to perform its information disclosure obligations in a timely manner, and clarify market expectations as soon as possible.
The Shanghai Stock Exchange stated that the reduction of shareholders’ holdings and the provision of financial assistance to external parties are major issues that investors are concerned about. All directors, supervisors and senior management personnel of Songdu Co., Ltd. should be diligent and conscientious, and in a responsible attitude to investors, conscientiously implement the requirements of this work letter. , immediately disclose and speed up the reply to the inquiry letter and this letter after receiving the letter, prudently verify relevant matters, reply to our department in writing within 5 trading days, and fulfill the obligation of information disclosure.Return to Sohu, see more
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