Home » The new controlling shareholder of Hengtai Aipu once again asked for the removal of the directors, accusing the directors of not actively hampering the company’s development for their feedback on the debt settlement plan | Daily Economic News

The new controlling shareholder of Hengtai Aipu once again asked for the removal of the directors, accusing the directors of not actively hampering the company’s development for their feedback on the debt settlement plan | Daily Economic News

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The new controlling shareholder of Hengtai Aipu once again asked for the removal of the directors, accusing the directors of not actively hampering the company’s development for their feedback on the debt settlement plan | Daily Economic News

On the evening of February 22, Hengtai Aipu (300157, SZ) issued an announcement that the new controlling shareholder of Hengtai Aipu, Beijing Shuosheng Technology Information Consulting Co., Ltd. (hereinafter referred to as “Suosheng Technology“), asked the Supervisory Committee to hold an extraordinary general meeting of shareholders , to consider the Proposal on Removing Sun Yuqin as Director (hereinafter referred to as the Proposal).

Previously (February 9), in response to the proposal, Shuosheng Technology said that it had requested the board of directors to hold an extraordinary general meeting, but the board of directors did not give written feedback within the specified time.

At present, Hengtai Aipu is in the midst of a debt crisis, and the reasons for dismissal proposed in the above-mentioned motion are also related to Hengtai Aipu’s debt problems. According to the content of the proposal, after many negotiations with creditors and with the support of Shuosheng Technology, the relevant creditors agreed to temporarily suspend the enforcement procedure and agreed to repay Hengtai Aipu in installments and form a settlement agreement (draft).

However, the motion stated that Sun Yuqin had not convened the board of directors to review the above-mentioned settlement agreement (draft) during his tenure as chairman. Subsequently, Sun Yuqin organized a meeting on his own without fully negotiating with major shareholders such as Shuosheng Technology and relevant creditors to review the creditor’s debt settlement plan.

“Sun Yuqin, as a director, obviously lacks an understanding of the company’s current situation and development strategy. Sun Yuqin’s above-mentioned actions have harmed the interests of the company and all shareholders, especially small and medium shareholders, and have created extremely serious obstacles to the development of the company in a difficult period.” Wording in the motion severe.

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Sun Yuqin joined Hengtai Aipu in 2012 and has served as assistant to the general manager, deputy general manager, general manager and chairman of Hengtai Aipu, and the contradiction between this “old employee” and the new shareholder is obviously escalating.

On February 8, under the proposal of some directors, the board of directors of Hengtai Aipu held a meeting to discuss whether to remove Sun Yuqin from the positions of chairman and general manager, and whether to hold an extraordinary general meeting to remove Sun Yuqin from the position of director. These motions were not passed with 5 votes in favor and 7 votes against.

Soon after, Sun Yuqin said he resigned as chairman, but continued to serve as director and general manager. Judging from the announcement of Hengtai Aipu, the successor chairman has not yet been elected, and Wang Lifei, the vice chairman of the company and the legal representative of Shuosheng Technology, will act as the chairman.

On the other hand, Sun Yuqin and other seven opposing directors reported to the Shenzhen Stock Exchange that the board of directors held a meeting on February 14 to consider the proposal for re-election of the chairman, and seven directors agreed on the scene.

The battle for control has entered a stage where dialogue is impossible. When will Hengtai Aipu resolve the internal conflicts? On February 23, a reporter from “Daily Economic News” called Hengtai Aipu Securities Department, and the answerer said that “the announcement shall prevail”. In addition, the reporter, through Shandong Haijiya Environmental Protection Equipment Co., Ltd., made an interview request to Zhang Junji, one of the seven directors who reported to the exchange, but has not received a reply as of press time.

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