OBS Chapter 550 - 237: Came in Fine, Alas, Can’t Go Back
Chapter 550 - 237: Came in Fine, Alas, Can’t Go Back
Yang Chen immediately instructed, "President Huang, please notify all shareholders to hold a shareholder meeting at the hotel at 10 AM tomorrow. The main topic is to discuss the expansion of the shareholder meeting."
Huang Lvxie: "Understood! I will notify the other shareholders right away. See you tomorrow, Mr. Yang."
Soon, Hultas James heard that Zircon Investment planned to go against Yang Chen for them, and he suddenly felt overjoyed, as if he were about to take off.
Hultas asked Michelle to help arrange a meal with Joe Smith to discuss a plan to cooperate against Yang Chen.
Yang Chen holds 38% of the shares. Although he cannot guarantee control, if he votes against, Zircon Investment’s proposal cannot pass.
According to the law, more than two-thirds of the shareholders must agree to pass a proposal.
Yang Chen’s 38% voting against means that even if all other shareholders agree, it would only amount to 62%, failing to meet the more than two-thirds requirement.
However, nothing is absolute; as long as other shareholders unite against Yang Chen, his 38% stake won’t be able to do anything, and ultimately he may likely have to compromise.
Therefore, the most important thing now is to buy off other shareholders to stand on the same side as Zircon Investment.
This matter is for Huasheng Investment, and naturally, the funds to buy off other shareholders cannot come from Zircon Investment but must come from Huasheng Investment.
Hultas James now has no better way, or rather, no way out.
If he can’t send a work report to the headquarters within a week, his position as the president of the Dragon Country District will be at an end.
He thinks no matter how much was invested initially, as long as he succeeds in acquiring shares in Haiyalantis, headquarters will surely agree with his approach.
Therefore, with Joe Smith’s arrangement, Hultas James gave a lot of gifts to the other shareholders, hoping they would side with Zircon Investment at tomorrow’s shareholder meeting.
At ten o’clock the next morning, Yang Chen arrived at the Haiyalantis Hotel for the meeting right on time.
Along with him came Shield Security Group’s Qiu Yuhong, Shengjin Investment’s Liang Xiuyun, Minghuang Investment’s Xue Yinong, Sky Curtain Investment’s Zhang Wu, Peninsula Asset Management’s Huang Wenkang, and Star Investment’s Jin Ming.
Yang Chen went in first to start the shareholder meeting, intending to let them come in later to talk with everyone face-to-face.
Hultas James was just outside the conference room, and upon seeing Yang Chen, he confidently approached, saying, "I admit you’re impressive, but compared to us, you’re still far behind. Today, you either agree to let us buy shares, or you’ll watch Haiyalantis descend into chaos."
Yang Chen chuckled and replied, "You’re quite confident. With me here, it won’t be chaotic. Does a small Zircon Investment think it can create waves in front of me? You overestimate them!"
Saying this, Yang Chen entered the conference room.
Hultas James sneered and whispered, "This time I’m sure to win! Even if I can’t buy shares in Haiyalantis Hotel, I’ll make you become enemies with the shareholders. Hmph!"
Huang Lvxie stood up to greet Yang Chen and, taking the opportunity to hug, whispered, "Mr. Yang, I found out they’ve all teamed up. Be careful."
Yang Chen nodded with a smile, walked to the major shareholder’s position, and immediately began the shareholder meeting.
After a brief exchange of pleasantries, Joe Smith, the representative from four shareholders, Zircon Investment, proposed a motion to absorb Huasheng Investment into Haiyalantis.
He then asked, "Mr. Yang, as a major shareholder, would you first state your position on whether or not to agree to absorb Huasheng Investment into our hotel?"
Yang Chen opened Douyin, found a video, and played it for everyone to watch.
"If we accept Huasheng today, we might be surrounded by the righteous Dragon Country people tomorrow. I wonder what Mr. Smith’s purpose is in proposing this motion? Does he think everyone making money is bad and insists we incur losses?" Yang Chen said.
Joe Smith: "Netizens have no memory. So many international brands were accused of insulting the Dragon Country, yet they still thrive. New products or discounts have lines of people eager to buy. Since Huasheng Investment’s reputation is problematic, they are willing to buy into our hotel at three times the price. It’s free money; why shouldn’t we take it? Don’t you all agree?"
Those bought-off shareholders expressed their agreement.
For them, being shareholders of Haiyalantis is just about making money. If they can earn several times more, why not?
Even if the hotel fails in the future, they can choose to sell their shares and invest in other projects.
Their thinking differs from Yang Chen, who aims to manage the hotel well while they are merely investors.
Joe Smith flashed a sly smile and said, "Mr. Yang, why don’t we vote? It’s a legally required procedure, and I think it’s necessary."
Yang Chen called Qiu Yuhong and others over.
The shareholders were stunned, as they might not know the others, but they all recognized Qiu Yuhong, Chairman of Shield Security Group.
Yang Chen: "Everyone, please introduce yourselves briefly."
Qiu Yuhong and the others quickly made brief introductions.
Then, Yang Chen said, "I’m quite straightforward in my dealings and say what I think. We indeed need to bring in new shareholders to raise funds to upgrade hotel facilities and expand Shanya’s yacht business. But companies like Huasheng Investment, with their tainted reputation, are absolutely unacceptable to us. As Dragon Country people, we must uphold our basic dignity and bottom line. Chairman Qiu and others are interested in investing, and once we accept them, we’ll all be friends. We can introduce each other to various projects and help with any troubles. If Chairman Qiu and others don’t successfully buy shares, the shareholders will be our enemies. Against enemies, I never show mercy."