Chapter 992: Overbearing and high-profile Jiuding Securities

When Norman Shi Yahui was led by an employee to the door of the small conference room, he knocked on the door, then directly unscrewed the lock and pushed the door open.

The two groups of people who were having an intense conversation in the small conference room immediately stopped talking and looked at the door where Norman Shi Yahui was standing.

Norman Schiaway also had a clear view of everything inside.

When he saw the face of the man standing opposite his red-faced nephew Wade Schiaway, even Norman Schiaway, who was usually composed, could not help but change his expression slightly.

Because that man was none other than the famous figure in Xiangjiang, Xia Yu's right-hand man, and the wolf Xia Yu raised in his eyes—Wang Qi, the general manager of Jiuding Securities Company!

Next to him were a young man and a few middle-aged people, but he ignored them with just a glance.

The silence between the three parties lasted only a moment, and Norman Shih Ya-huai immediately came back to his senses. As he walked over to Wade Shih Ya-huai, he asked with a blank expression, 'Mr. Wang Qi, what is the purpose of your visit to my company today?'

His words revealed his cold and unapproving attitude.

Wang Qi was unfazed. He gave a faint smile, swung open the car door, and said plainly, 'Mr Norman Schiawai, my purpose today is very clear. I hope to acquire Swire Pacific Airlines in its entirety. The offer letter has already been handed to your nephew, Mr Wade Schiawai!'

As he spoke, Wang Qi gestured towards Norman Schiawai, and looked at the document in front of Wade Schiawai's desk.

Norman Shijiahuai just glanced at it expressionlessly, showing no interest in picking it up and reading it.

He then sat down in a big way and said in a defiant tone, 'The shares of Swire Pacific will never be sold to outsiders. Mr. Wang Qi can go back and report to Xia Yu!'

Since his uncle Norman Shijiahuai had arrived, Wade Shijiahuai naturally took a back seat and left the matter entirely in his uncle's hands. He sat back down and stared indignantly at Wang Qi.

Wang Qi narrowed his eyes, then casually sat back down with his people, elbows on the table, palms crossed, body leaning slightly forward, adopting a very aggressive posture. His words were neither hurried nor slow, but they gave the impression of being spoken with conviction. 'Mr Norman Shi Yahuai, you don't have to be so resolute in your refusal. Without knowing the situation, you are not leaving yourself any room for manoeuvre, which is unwise.'

Norman Shi Yahuai sneered and forcefully refuted, 'Mr. Wang Qi, to use your Chinese saying, I have eaten more salt than you have eaten rice. Are you sure you are lecturing me now?'

Upon hearing this, everyone around Norman Shi Yahuai stared coldly at Wang Qi, and many of them had anger on their faces. Insulting their leader is the same as insulting them, isn't it?

Although the atmosphere became confrontational in an instant, Wang Qi's expression did not change. He gave a faint smile and said, 'I'm not lecturing you, I'm just stating a fact. Mr Norman Shih Yawei might as well consider this matter carefully. The takeover offer has already made many things clear. I think you must be a very wise person to have developed the Taikoo Group to the point it is now!'

'It seems that you need to calm down now, so I'll come back next time!'

After saying this, Wang Qi got up, looked at the several people behind him, and signalled for them to follow him.

Before coming, Wang Qi had already deduced the possible scenarios, and the Shiyahuai family's strong resistance and resentment were within his expectations.

Therefore, he had never thought that the Shiyahuai family would surrender obediently. If the Shiyahuai family was so easy to talk to, then Chairman Xia Yu would not have gone to such lengths to do the preliminary work.

This was destined to be a takeover full of twists and turns, and Chairman Xia Yu had given him plenty of time and he had plenty of patience!

The main purpose this time was to deliver the takeover offer letter and at the same time make a statement, creating as much psychological pressure as possible on the Shih Yawei family.

The letter had been delivered, the attitude was very clear, and the purpose had been fully achieved. What was the point of staying here and arguing?

Seeing Wang Qi about to leave, Norman Shih Yawei was a little taken aback.

But he was not flustered. As Wang Qi was about to leave, he seized the opportunity to ask, 'Mr. Wang Qi, you have also acquired the equity stakes in Cathay Pacific held by Standard Chartered Bank and HSBC?'

Wang Qi paused for a moment, and after staring at Norman Shiyahuai for a long time, he revealed a smile and answered without any hesitation, 'Mr. Norman Shiyahuai, I know what you want to know, and I can tell you everything!'

Norman Shiyahuai's face changed slightly, and he stared at Wang Qi with a calm expression, waiting for him to continue.

Then Wang Qi's voice sounded again: 'Now we already hold 54% of Cathay Pacific Airways and 66.5% of Hong Kong Airport Ground Services!'

'I believe that by now, someone is already taking over these two companies!'

'You will soon get the news!'

'Confrontation will only make things worse!'

'Mr Norman Shiyahuai, we are not going to let you lose out, and I believe you will not let your emotions get the better of you.'

After saying this, Wang Qi nodded at the disgruntled Norman Shiyahuai, and then decisively led the others away, leaving behind the disgruntled Norman Shiyahuai and the others, who were all looking miserable.

For a while, the atmosphere in the small meeting room was frozen, and the others knew that Norman Shiyahuai was angry, so they didn't dare to even breathe a sigh.

Less than a minute after Wang Qi and the others had left, there was a series of rapid footsteps outside the door, getting closer and closer.

When the owner of the footsteps appeared in the doorway, Norman Shijiahuai and the others all looked at him.

The employee, who already had a panicked expression on his face, was so scared by the stares of his boss and the others that his legs trembled and he almost fell to his knees. His throat felt as if it had been strangled, and he could hardly speak of the urgent matter he had wanted to report.

Fortunately, at this time, Wade Schiawaye came to the rescue, asking in as calm a voice as possible, 'What's going on?'

The employee who reported the incident was stunned for a moment before hastily saying, 'Chairman, just now Cathay Pacific called, and a group of people from Jiuding Industrial Group, led by Song Dong and the vice president of Standard Chartered Bank, came with proof of equity and contracts to forcibly take over the company. The specific situation is unclear for the time being, and all senior executives have been called to a meeting. You are now notified to go to the meeting.'

Afterwards, the employees looked at people like Wade Shi Yahuai and Norman Shi Yahuai, but were shocked to discover that the imagined situation of the chairman being shocked had not happened. Could it be that the chairman knew in advance?

No one was naturally concerned about his psychological journey.

Wade Shi Yahuai looked at his uncle Norman Shi Yahuai with a grave expression on his face and said, 'Uncle, they really did it. If it really is 54% of the shares, then it's really in trouble! If we don't go over there, they can directly remove the board of directors and take over the company through an extraordinary general meeting!'

'Even if we go, I'm afraid we can't stop it...'

The reason why Wade Shi Yiahuai is so pessimistic is because British law gives shareholders sufficient rights.

According to the current provisions of Section 184 of the UK Companies Act, as long as 10% of the shareholders unanimously propose, an extraordinary general meeting can be convened, and regardless of the provisions of the articles of association or any agreement between the directors, the shareholders can vote to remove any director whose term of office has not expired through the general meeting.

And although the UK Companies Act protects company directors, it also protects shareholders, and the 'veto right' can be invalidated here.

Because as long as the general meeting of shareholders removes the board of directors according to the general resolution procedure, rather than the special procedure, then the UK Companies Act can be applied in its entirety, and the board of directors can be removed with the consent of a simple majority of shareholders present.

To give a simple example.

If all shareholders attend the general meeting, then as long as the valid votes representing more than 50% of the shares are cast in favour, it can be passed.

And if Weid Shijiawei does not go now, and the other two companies also do not go, and only Jiuding Industrial Group is there, then because Jiuding Industrial Group's shareholding ratio meets the meeting standard, the meeting can be held smoothly, and one person can play alone, with a 100% voting turnout rate, unilaterally dismiss the board of directors and forcibly take over the company.

This is the right of the largest shareholder, and also the supermajority shareholder with more than half of the shares.

So whether you go today or not, as long as Jiuding Industrial Group decides to remove the board of directors, then with a simple resolution, they can get what they want, and Norman Shi Yuhuai will also lose his position as chairman.

His veto power can only be used to re-elect the board of directors.

Because the company's articles of association have already stipulated the re-election of the board of directors, and the UK Companies Act also stipulates that the re-election of the board of directors requires the consent of two-thirds of the shareholders present.

Therefore, it is easier to remove the board of directors, as long as more than 50% agree.

If the board of directors is elected, a two-thirds turnout is required!

If you go to the meeting today, then there is still a chance to resist and cause chaos.

If you don't go, then Jiuding Industrial Group will succeed in electing a chairman who represents their interests in one go, which will be even more detrimental to Cathay Pacific!

Norman Shi Yahui is a veteran of the business world, and has done many domineering things in the capital sector. He has oppressed so many Chinese people that he naturally knows these tricks very well.

He immediately ordered, 'You go over there and do your best to stop it, and find out what's going on at the same time!'

Wade Shiyahuai nodded emphatically, then combined with what Wang Qi had said earlier, and said to Norman Shiyahuai, 'Uncle, they should be moving against Hong Kong Airport Ground Services. If there is a time conflict, I will go to Cathay Pacific, and I can only let someone else go.'

He did not let his uncle go because although his uncle Norman Shiyahuai was the chairman of the Swire Group, he did not hold the position of director or chairman of Swire Pacific and a series of companies under it, so he could not represent Swire Pacific at the meeting.

Just then, a series of rapid footsteps came from far away.

Norman Shiyahuai, who had experienced this once before, had a grave expression on his face as he stared straight at the door.

Sure enough, another employee ran in panic, blurting out the news: 'Chairman, we just received a notice from Hong Kong Airport Ground Services that the company's major shareholder has changed to Jiuding Industrial Group. They are notifying you to come to the meeting!'

Weide Shiyahui said with a gloomy face, 'I know...'

He was about to continue, but his head suddenly turned to look out the door again.

Sure enough, a familiar scene unfolded.

Only this time, it was not what they had expected.

Seeing that it was not an employee from the reception department, but a middle-level employee in charge of the capital market, Weide Shiyahui's heart suddenly sank.

Could it be...

Sure enough, the employee who came to report next nervously reported and confirmed the conjecture in his mind, causing his face to change.

'Chairman, something's happened. The stock price of Xiangjiang Aircraft Engineering Company has skyrocketed because Jiuding Securities is buying up shares on the market at double the price!'

'Jiuding Securities doesn't hide anything at all, and it seems like they don't want anyone to know. The capital market has already been shaken by this announcement from Jiuding Securities.'

'Do we need to raise funds to join the buyout?'

Wade Shi Yawai did not answer, he turned his head to look at Norman Shi Yawai, his expression was extremely ugly, almost a sad face.