The board of directors happens to be not monolithic at the moment.

The newcomer Guan Bonian is not familiar with Ke Yusheng, and he has not even heard Han An say that Hua Venture Capital has such a person before.

But at this time, the minority shareholder representatives who did not know the details were only shocked by Song Yang's handwriting, and only the hearts of Ke Yusheng and others sank directly.

No wonder ICBC, the largest creditor, didn't send anyone.

The main banks that Huaguo Real Estate initially chose to transfer funds were naturally HSBC and Standard Chartered, but from 92 years, ICBC started overseas business expansion. By the establishment of the Xiangdao branch in 95, it was through the operation of the upper level and the huge credit line that the customer of Huaguo Real Estate was snatched over.

This is also an incentive for HSBC and Standard Chartered to rise to win the heart of Huaguo Real Estate.

Through continuous operations in the past two years, Huaguo Real Estate has accumulated nearly 500 million outstanding loans on the ICBC side.

Now it seems that Song Yang actually got the creditor's rights over there. There is no doubt that this Song Yang, just as Han An was worried about before, has already received the support of the big leaders in the mainland.

So Ke Yusheng looked at Guan Bonian: I'm afraid he also came to cooperate with Song Yang.

The creditor's rights acquired with real money and silver were then negotiated for debt-to-equity swap through the crisis that had broken out in Huaguo Real Estate. With other minority shareholders present, what is the position of HSBC and Standard Chartered shareholders in refusing to reduce the size of the company's debt? Just because you don't want your shares to be diluted?

Those small shareholders who only have a few lots, or at most hundreds of lots, don't care that the proportion of shares that are a few decimal places is a little smaller, as long as the stock price of each share can eventually rise back and make money.

"Such a large-scale debt-to-equity swap is not a trivial matter." Guan Bonian said solemnly, "Once the decision is discussed, it is a major event that directly changes the company's shareholding structure, and it also has a great impact on shareholders. There is no doubt that this is a need for a suspension and reorganization. Moreover, in order to protect the interests of shareholders, the restructured company needs to come up with a practical business strategy to restore the market's confidence in Huaguo Real Estate."

"So, in principle, Director Guan is not opposed to the debt-to-equity swap on my side?" Song Yang looked at Ke Yusheng and the others with a smile again, "What about the opinions of the other directors?"

Ke Yusheng frowned and spoke, "At present, the company's market value has fallen to less than 2.3 billion incense coins. When is the stock price of the debt-to-equity swap discussed by Mr. Song discussed? What are your thoughts on redemption?"

At present, there are nearly 900 stocks in the Xiangdao stock market, and the total market value has just fallen a lot, fluctuating around 4 trillion yuan, and there is a trend of further decline.

Huaguo Real Estate fell very hard in it, from more than 4 billion to less than 2.3 billion. And now Song Yang claims to have 720 million debts on hand, if it is converted into shares, how much will it have to occupy? Immediately became the largest shareholder.

The implementation of debt-to-equity swaps by listed companies is actually equivalent to a financing method and a kind of additional issuance of new shares. These newly issued convertible bonds have the nature of both equity and debt, and the enterprise actually still has to bear this debt, but it is repaid in the form of equity dividends, so that the short-term debt pressure is reduced, which is conducive to operation.

Therefore, convertible bonds are actually quite popular because of their double income. Of course, this is all based on the premise that the company's prospects are still optimistic.

On the other hand, companies have to bear the dual pressure of debt repayment and equity dividends, and if the business situation starts to improve, they will also tend to redeem convertible bonds in advance. It's just that this early redemption is often done in the form of equity, and there is a slight premium. In this way, the debt is equivalent to being repaid with stocks.

All in all, it's a complex set of operations.

At present, Ke Yusheng raised the core question: at what price Song Yang wants Huaguo Real Estate to "redeem" those debts, which determines how much proportion of Huaguo Real Estate shares Song Yang will own.

"If you agree to this plan, it is natural to suspend and restructure trading again, and use the stock price at that time as the benchmark." Song Yang saw Ke Yusheng and the others' faces change again, and said with a smile, "As for redemption...... If the company decides to redeem it directly with the shares during the restructuring period, then it will be a 20% premium under normal circumstances."

The reason for Ke Yusheng's ugly face is that today's this

I don't know how it will go.

If these minority shareholders feel that after the company's shareholding structure has changed greatly, they will listen to Song Yang's suggestions on the company's business strategy in the future, then they may drive some people to make the stock price change again before the suspension of trading again.

Whether it will pick up a little or continue to fall, it is uncertain.

In any case, Song Yang has made it clear that he is more inclined to convert the debt in hand into pure equity.

It's not just about holding convertible bonds to get double returns.

At this moment, Guan Bonian spoke again: "Due to the major business mistakes made by Han An during his tenure as executive director, Hua Venture Capital, the so-called largest shareholder of Huaguo Real Estate, is also considering a gradual withdrawal. The withdrawal is by way of transfer by agreement, which, in accordance with the regulations, requires the consent of other shareholders and must be reported to the Stock Exchange for approval. The original shareholders naturally have the right of first refusal, but in order to make the transition smoother, the condition for Hua Venture Capital's exit is that the debt scale of Hua Guo Real Estate can be reduced to a more reasonable and safe ratio."

This statement once again caused an uproar.

Ke Yusheng looked at Guan Bonian deeply.

This is a question of whether Huaguo Real Estate can continue to maintain its listing qualifications!

According to the regulations, if it is only an ordinary reduction through block trading, the proportion of shares that can be traded for a continuous period of time is limited. However, if it is an agreement transfer, a considerable proportion of the transfer can be made at one time, as long as the disclosure business can be performed in accordance with the regulations, and the compliance confirmation can be obtained by the exchange.

Of course, all this will take place during the suspension and reorganization.

However, after the suspension ends, the company is equivalent to a change of owner, and it is difficult to say whether it will be able to maintain its listing qualification in the future.

Could it be that the real purpose now is to delist and restructure?

If this is the case, what are HSBC and Standard Chartered doing with such great effort? Not only that, but some of the layouts that have already been done will be a big loss!

But is it time to take out real money to buy the shares in the hands of Hua Venture Capital?

Here's the next step!

As for reducing the scale of debt to a reasonable ratio first, it is naturally a debt-to-equity swap, so that the shareholding ratio of the original shareholders will be diluted a lot.

Don't think about it, Song Yang is the one with the most claims now, and the debts that are prioritized must be in his hands.

Otherwise, Huaguo Real Estate in the future will be equivalent to working for Song Yang for a period of time, and he will have to repay the principal and interest of those huge debts in his hands.

If Song Yang hadn't had Shi Youming, an asset management master, as a think tank, he would have been stunned by these complicated operations of listed companies.

It's just that now he knows very well that this kind of operation method is to make shareholders such as HSBC and Standard Chartered speechless, upright and able to achieve their goals.

This is also because Song Yang can take out real money to help Hua Venture Capital solve some of the problems of the parent company.

What he gets will be the largest proportion of shares in Huaguo Real Estate, a listed company.

Will HSBC and Standard Chartered follow?

Ke Yusheng's face was ugly, and he wanted to say that it was better to be delisted and liquidated.

At this moment, other small shareholders all looked at Song Yang.

How is he going to run Huaguo Real Estate?

……

How complex are the current problems of Huaguo Real Estate?

HSBC and Standard Chartered had thought very well.

Li Xian used the so-called "Xinxiangdao No. 1" fund to obtain a financing by subscribing for new shares and some financial derivatives.

This money first filled some of the holes left by HSBC and Standard Chartered, and then, Han An carried this part of the pot and trapped China Venture Capital in injustice.

As for those leeks who subscribed to "New Xiangdao No. 1", what can they do in the event of the Xiangdao stock market crash? At most, Li Xian was laid off, and the bank came forward to issue a sincere apology.

After so many years of ups and downs, HSBC has seen a lot of these banks.

Xiang Sheng's "New Xiangdao No. 1" will make money by shorting, but it's just his brain. Did Li Xian say it clearly? It just emphasizes their "professionalism".

actual

It is through secret operations that HSBC and Standard Chartered secretly hold some interests. When the time comes, a few more proxies will be able to vote for a plan that will be dominated by HSBC and Standard Chartered at the shareholders' meeting.

Now a Song Yang has been killed halfway.

Under the absolute right to speak with 720 million debts and the "internal and external cooperation" of Hua Venture Capital, a major shareholder, they are no longer able to compete with it.

The key things under the table cannot be brought out yet, and if they are said, they will cause the anger of other small shareholders. A crime of maliciously manipulating the company's stock price cannot escape, and the scandal of "New Xiangdao No. 1" will also affect HSBC itself.

In front of everyone, Song Yang just said helplessly: "At present, I am only a representative of the creditor, and the other is just an investor who has just raised his card. I don't know enough about the internal problems of Huaguo Real Estate, and I don't have the identity or position to express any opinions."

…… You fucking want the stock price to fall a little more, so that you can take more shares when you suspend trading again!

Ke Yusheng thought.

Guan Bonian first asked Ke Yusheng and others to see if they were interested in acquiring the shares of Huaguo Real Estate held by Hua Venture Capital.

How can Ke Yusheng answer? That's not in the plan!

How can a serious conspirator play with real money to buy? It's all ingenious!

Guan Bonian then asked Song Yang again, and this time Song Yang replied, "You can consider it." However, I need to investigate the current situation of Huaguo Real Estate even further."

"This is the way it should be. Since the direction is possible, then Mr. Song is already a quasi-director, and it is likely to become a major shareholder of Huaguo Real Estate, so you can put forward your ideas. I believe that this is also the concern of the shareholders who are here today."

After going around in a circle, it is nothing more than to determine that Huaguo Real Estate will be reorganized in this direction.

Ke Yu was numb.

In the future, I want to play with this Song Yang with a smaller proportion of shares?

If Huaguo Real Estate cannot become a shell for HSBC and Standard Chartered to carry out various operations with high profits, it is better to reduce their holdings or even withdraw.

Maybe with the stock market crash, Li Xian's side "cut the meat" in time, but he didn't have to let Ke Yusheng lose a general within HSBC.

He was already thinking about it.

Song Yang pondered for a moment, and then said: "Actually, I first bought the shares of Huaguo Real Estate in the secondary market, and then acquired those debts, mainly because Huaguo Real Estate owns more than 60 million yuan of the off-plan property of the giant building I want to take over in the mainland, and I have never thought of taking over Huaguo Real Estate. In a hurry, there really isn't any mature opinion."

Ke Yusheng looked at him coldly: It's just more than 60 million pre-sale properties, you can spend so much money to acquire shares and debts, and you can't redeem them directly? What is pure!

"Many of you probably don't know me yet." Song Yang smiled again, "The contemptible industries are mainly in the mainland. On the island side, there are only five companies in total."

Ke Yusheng continued to slander: Listen, only.

"One is a film and television investment company, and a subsidiary of a mainland trading company, which is convenient for business docking in Xiangdao. An asset management firm, a consulting firm, and recently a financial services company. These companies are not very closely related to the main business of Huaguo Real Estate."

Song Yang paused and then continued: "Of course, since I took over the unfinished Giant Building in the mainland, I am also interested in entering the real estate field, but the current focus is on the mainland. As far as my opinion on Huaguo Real Estate is concerned, the main direction in the future should also be in the mainland, and it is no longer property management, but real estate project investment, and only co-investment. At present, the property market in Xiangdao has been in decline, and the potential of the mainland is even greater."

"On the other hand, Xiangdao can take advantage of the opportunity after the property market has fallen to try to acquire some high-quality assets and find a way to operate well. Of course, that's all I'm saying at the moment, and I can't immediately come up with a plan that everyone feels very promising. I can only show you one thing, I should have a good investment vision."

"Amazon, which went public in the United States this year, is a company that I have invested in since the earliest round. We will also subscribe for the newly issued shares to become the sub-largest shareholder. I'm in the mainland

The company is currently one of the best advertising companies in the mainland. If nothing else, Sanyou Electronics and Wavedo, which we have invested in, will also be listed on the mainland this year. So, if I decide to get involved in Huaguo Real Estate, I should be able to bring some help."

When Huaguo Real Estate issued new shares before, it used Song Yang to do good publicity.

But these people really don't know enough about Song Yang, and now Song Yang introduces himself like this, as if he has a very huge business territory, and even listed companies in the United States have a lot of shares.

Ke Yusheng was a little numb.

Is it wrong?

is so bragging, these small shareholders of leeks who originally lost their eyes with red eyes have now become golden, and they will not go back and sell iron to increase Huaguo Real Estate, right? Wouldn't the stock price go up?

Then he woke up and looked at Guan Bonian.

If the stock price rises a little, Hua Venture Capital, which wants to withdraw, will receive more money.

Is this some kind of exchange?

The question is...... He looked at Song Yang again: This guy doesn't care about money so much? How much money does he have?

Ke Yusheng suddenly didn't think about quitting now.

What if Huaguo Real Estate can really be revitalized by him?

……

The two-day extraordinary shareholder meeting of Huaguo Real Estate discussed issues in addition to the current solution to the debt, the pace of Hua's exit and, of course, the high-level structure during the transition period.

Song Yang was given a seat on an independent board just by virtue of his status as a shareholder, but he said he wanted one of his subordinates to serve as him.

Le Huimin did not expect that he would follow the operation and suddenly become an independent director of a listed company, and then he may become an executive director.

"The first task is to find a way to deal with the old foxes of HSBC and Standard Chartered to investigate the actual situation of Huaguo Real Estate."

Song Yang grinned and sneered, "They want to be beautiful now, and they still want to rub me. It's still early for the stock market crash to end, so set up a bureau to kick them out!"

"How?"

"Of course it's the 80,000-five plan. As an enterprise with a domestic background, it is reasonable for Huaguo Real Estate to support the desire of the people of Xiangdao to live in cheap housing, right?"

「…… Of course it's reasonable, but it's hard to make money."

"Am I worried that I won't be able to make money in the short term?"

Le Huimin thought about the huge amount of money that is now opening its mouth in South Korea, and sighed: "You're worried about a fart!"