Shanshui cement-richest man in the battle for a new plot in Henan province sued Mayor of Jinan
The core reading
Prosecuting the Mayor! Shanshui cement battle the industry revealed startling new plot. Recently, the Shanshui cement said in a statement, PioneerCement and Shandong on March 4, 2016 landscape interference and violations of Jinan City Mayor Yang luyu, Vice Mayor Su Shuwei in Hong Kong's High Court. Rarity in prosecuting officials of domestic enterprises, but always mature low-key before the Henan's richest man, Li Liufa, why the choice of conventional thinking an "unwise move" to challenge officials, emboldened to, just because it has a "law"?
Close Shanshui cement battle new drama –
The night of 4th Shanshui cement (00691. HK) said in a statement, PioneerCement and Shandong on March 4, 2016 landscape interference and violations of Jinan City Mayor Yang luyu, Vice Mayor Su Shuwei in Hong Kong's High Court. Company believes, "Jinan municipal people's Government and the Working Group of the Government of Jinan, Shandong landscape company subsidiary of unlawful interference PioneerComent legitimate business and the violation of the shareholders and owners ' equity. ”
Low-key Henan, Jinan Mayor publicly indicted former richest man in China under the current political environment, not focus hard. Shanshui cement listed in Hong Kong, Mainland and Hong Kong's capital market and legal environment for a more mature sound, which Li Liufa measured repeatedly, officials filed the biggest clout.
Also, this times announcement also to High Court sought four article remedy, specific including: "requirements accused to PioneerCement surrendered PioneerCement Yu Hong Kong of property (including but not limited to PioneerCement of company seal, and books and the records) of forced makes", and "requirements the accused to Shandong landscape surrendered company seal, and litigation instruments, and books and the records of forced makes, or requirements accused for Shandong landscape engraving new seal of forced makes", and " Prohibits the publishing or causing to publish any notice or notification of the accused (whether in the form of paper or network) claim that Zhang Caikui, Zhang bin and/or prohibition of legal director Chen Xueshi Shandong landscapes "," compensation (to be assessed) and in other compensation (including interest and costs) ".
The core requirement of the notice in the hope that the injunction by Hong Kong, further put pressure on the Government and accountability, Shandong Shanshui cement on the Mainland as soon as possible operational entity control over the landscape.
After half a month, on February 22, 2016 Shanshui cement had said in a statement, the company that the Jinan municipal people's Government and its representative to the scope of work of the Working Group and function, already constitutes a wholly-owned subsidiary of Shanshui cement landscape of illegal control in Shandong province
. Capital markets there are many stories of barbarian invasions, in many cases, both in terms of time or space span, landscape of cement can be called a "master" during the protest, several rounds, battle for even a sensation throughout the Wan Bao, also lost the plot on the ups and downs in a few minutes. Take control not once and for all, ring consideration of tianrui group game of wisdom about Shanshui cement stakes competition, is a focus of media reports, reviewed the before and after all, detailed below, or for Henan enterprises to go to add a few minutes thought –
In Jinan, Shandong, a fascinating and more twists and turns than "treasure" competition between the ownership battle has come to an end. On January 30, the Shanshui cement's new management "command," and more than more than 2000 employees "lined up" into the Shanshui cement's headquarters in Jinan, Shandong province, completed the headquarters receives. Originally held the headquarters of former Chairman Zhang Caikui and his son are forced to relocate. 12 years ago, together with executives, Zhang Caikui "business", subsequently led the Shanshui cement listed; 12 years later, Zhang Caikui were it executives as the pioneer of "opposition" and "out". 2013, the battle for control over the surrounding landscape of cement at the Court of "bucket", all Chen troops confrontation of "verbal", third-party shareholder involvement, various scenes, such as the outbreak of a debt default, put on one by one. In the view of some market participants, battle for control of Shanshui cement, is more classic than the Wanbao fight capital markets equity dispute cases. After a lot of fighting left "a feather", today's landscape of cement has been sapped. People familiar with the matter say, 2015 Shanshui cement is listed first and the largest loss since years, the annual loss of nearly 2 billion yuan. Banquet of maotai, celebrating "the victorious junction of the friendly" tianrui group an inside source said that after this is achieved a landscape of cement together control, first official visit with each other, belonging to friendly fire, "the victorious junction". February 17 at 10 o'clock in the evening, in a star hotel in Zhengzhou, Henan tianrui Group Chairman Li Liufa to pay tribute to more than 130 workers from the Shanshui cement toast. Workers have held wine glasses stood up, the glass of maotai in one gulp. After three rounds, Li Maohuan Shanshui cement new directors speak out. He called for road, mountain people "overcome his predecessor's crisis". Speaking from the listed company level, France is already listed in Hong Kong, Chairman of Shanshui cement. Li Maohuan, and "old" Mi jingtian, who are directors of the mountain in Shandong province. And Li Maohuan said "predecessor", referring to the former Chairman Zhang Caikui Shanshui cement and its child's original Board of Trustees, led by Zhang bin. Li Maohuan MI jingtian are Zhang Caikui "old men". Due to ownership, Li Maohuan, members of the "activist" and a "reverse" pioneer and driving force. The dinner on February 17, is a landscape of cement people in Henan "visits" the last station. Two days before, hundreds of landscape workers under the hospitality of tianrui group visits, meetings, and visit local scenic spots. Tianrui group an inside source as saying that after this is achieved a landscape of cement together control, first official visit with each other, belonging to friendly fire, "the victorious junction". At this point, Jinan, Zhengzhou 450 km away, once-Chi Zha Shanshui cement "predecessor" father and son, have been forced to evacuate the Group Headquarters. Landscape both inside and outside of the headquarters building is still heavily guarded. Headquarters for the two sides "hand-to-hand combat" "command with a new management, more than 2000 workers lined up to enter the square, and took over the Department. "The afternoon of February 18, Beijing News reporter in Shanshui Group's headquarters in Jinan to see, only the large entrance hall on the first floor of the Office building and has had at least 20 security officers. "Now total more than more than 100 inside and outside security. "Li Maohuan Beijing News reporter, Zhang's father and son look back, this is to prevent" ambush ". On December 1 last year, as represented by the Shanshui cement former executives of "rights", tianrui cement joint major shareholder, ousted Chairman Zhang bin and his father, former President Zhang Caikui under the control of the Board, and the formation of a new Board of Directors. On January 26, the Shanshui cement announcement made by the new Board, due to Zhang's son refused to step aside, listed companies cannot be achieved under the new team for a listed company mainly assets effective control of Shandong landscapes, landscapes of cement "law enforcement take over Shandong landscape".
Picture shows the morning of January 26, 2000 Shanshui cement employees gathered in Shanshui cement group headquarters
Prior to the take over, the two men come face to face at one time: mobilize hundreds of employees from Henan tianrui group, arrayed in Shanshui cement in front of, and "taking over" appeal banner while under the command of Zhang Caikui, a number of black-clad security guards formed a human wall, "keep out."
Figure for 2015 on Christmas Eve (December 24) tianrui cement traveled to Shandong, open the "mandatory resumption" mode
On January 30, the new Board of Directors to launch a general offensive, end occupation of the headquarters building. Rights workers build process is described on the Web site of the take-over, "command with a new management, more than 2000 workers lined up to enter the square, and took over the Department". Occupation headquarters, the new management started talking about how his predecessor's Office. But once the old President Zhang Caikui was retained in a special room. Beijing News reporter saw the room was decorated like a temple, walls respectively dedicated to the bodhisattva, Maitreya, Titan gods such as Grandma. Shanshui cement an incumbent supervisor said, retain original appearance here, is going to in the future as the company "anti-corruption" education base. "This is why Zhang Caikui personal beliefs, who also have a faith? "On February 18, the landscape of cement ex-spokesman Chen Xue, and accepted an interview with the Beijing News. Shanshui cement control over contested process, Chen Xue Shi chose Zhang's father and son, and stick together and are responsible for the external sound. 18th, mentioned about the temple, Chen Xueshi believes that rights "belief say" approach, "very boring". "Zhang and Zhang Caikui are currently not to speak out. "Chen Xueshi said.
Business veteran collective "defection" Zhang took office, start, assisted by Zhang Caikui "abrogation of powers", originally belonging to the head of local procurement authority in the hands of the group. When asked about Zhang Caikui bad process, current Director of Shanshui cement MI jingtian wanted to for a long time, it is difficult to tell the exact point in time. According to his recollection, Zhang Caikui are gradually changing the relationship between himself and the Executive, "Zhang Caikui and the beginning not so overbearing, our opinion he can listen. "Mi Jing Tian said" initially ", referring to he and all the" Veterans "followed Zhang Caikui business days. Predecessor of Shanshui cement, can be traced back to the State-owned enterprises in Jinan mountain. In 1990, the landscape into the red when in Jinan, Jinan, Zhang Caikui became Director of landscape. Under his leadership, Jinan landscape turn around rapidly. In 2004, Jinan Shanshui Group's cement production reached 20 million tons, sales income of up to 4 billion yuan, ranking second cement enterprises, Zhang Caikui was rated "good monitor State-owned enterprises." Since 2001, Jinan landscape innovating investment in a private company. Most of the company's registered capital of Jinan landscape workers to participate shares to raise. Since then, Zhang Caikui led a series of capital operation. Innovating the two subsidiaries of private enterprises, which in turn acquired the State-owned enterprises in Jinan mountain. After the change is complete in 2008, Chinese landscape cement Group (Cayman) landed in Hong Kong, Zhang Caikui as Chairman and Managing Director, employee-owned platform "investment landscape" became shareholder of the listed company 33.49%. Among them, Zhang Caikui owns 81.74% shares of investment landscape, the remaining 18.26% shares by 7 small shareholders (in Shanshui cement executives). Zhang Caikui's landscape investment up to 81.74% of ownership, only 13.18% shares of his own, the remaining shares of its "trust, as appropriate" way more than 3,000 workers.
Shanshui cement before the battle for equity ownership structure shown in Figure source: Beijing News
In 2011, the son of Zhang Caikui Shanshui cement General Manager Zhang bin assumed office, and in 2006 he entered only 28 years old when, as Deputy General Manager of the company.
Many senior executives of Zhang bin this "succession" style promotions complained. Not only that, Zhang bin, after coming to power, start, assisted by Zhang Caikui "abrogation of powers", originally belonging to the head of local procurement authority in the hands of the group. MI jingtian, Executive, Zhang's father and son, it was intended to turn the company into "name" performance. Zhang's father and son, and Chen Xue working side, it is hoped that with modern concepts of corporate governance reform of the old system, and touches the interests of executives and reform cake. "Why not willing to hand over power? Because oil a lot. "Chen Xue Division to such analysis. Withdrawal cause thousands of workers "rights" number of departed senior executives assembled more than employees to set up a "human rights school", and petitions to the relevant departments to protest the withdrawal programme implementation. In February 2013, including MI jingtian, Li Maohuan, Zhao Yongkui, including 5 from Zhang Caikui Executive collectively resigned. 5 executives are landscape investment shares held by shareholders. Shanshui cement minimum price when they resign 5.3 HK dollars, 5 by the holder of the shares would be worth about $ 700 million. On November 13, 2013, Zhang Caikui launched 7 small shareholders and 3,939 employees two withdrawal programme. According to these documents, 7 small shareholders and landscape workers will be held with 3,939 by Zhang Caikui all withdrawal, Zhang Caikui will become the only shareholder. According to the paper, realisation of employee shares in 3 phases, a total of 30 years, and all shares of capital since Shanshui cement, are all derived from the company's annual dividend, while workers signed after liquidation, can no longer enjoy the dividends. This means that all existing shareholders to exit after 30 years, Zhang Caikui will 13.72% of the company complete control of landscape investment 100%, and he almost does not pay the price. This program will be released and ignited after protracted Shanshui cement battle for control. Since then, the number of departed senior executives assembled more than employees to set up a "human rights school", and petitions to the relevant departments to protest the withdrawal programme implementation. The "barbarians" in hand "rebel" Li Maohuan, Tin Shui intervention every time, and activist in the fight with the father and son at school "together". Chen Xueshi, "says tianrui entry is an activist actively colluding with outside capital, Homestead". About taking control of the whole process, Li Maohuan tianrui Group congratulated incumbent major shareholder involvement. Publicly available information shows that on March 31, 2015, located in Henan tianrui cement listed company in Hong Kong in the case of unknown Shanshui cement board of Directors through cement holdings landscape 355 million shares in the secondary market, holding 10.51%, again ten days later increase its stake, increased its stake to 28.16%. At this point, tianrui cement replacing the investment landscape, become the first shareholder of Shanshui cement and investment landscape, Asia cement, China building materials holding Shanshui cement, respectively, and 25.09% and 16.67% shares.
Landscape after the battle for equity ownership structure of cement Tutu source: Beijing News
According to the media statement earlier, tianrui cement after becoming the largest shareholder of the company, its Chairman, Li Liufa initiative to meet with rights activists and expressed support.
Li Maohuan, Tin Shui intervention every time, and activist in the fight with the father and son at school "together". To this remark, Chen Xueshi, there is another version, "Tin Shui enters is the activist active collusion external capital, to keep one's geese." On May 20, 2015, Hong Kong's High Court approved the application of the protection against investment managed landscapes, original by Zhang Caikui 432,900 landscape of investment shares, referred to the Ernst managed on behalf of rights. At this point, the activist landscape investment owned by total more than 60%. July 2015 and September, tianrui cement twice first big shareholder, drew attention to the special general meeting, requiring restructuring of the Board of Directors. But Zhang's father and son led to the original Board of Directors under the interdiction of Tin Shui two operations have ended in failure. Until December 2015, tianrui group and "activist" together to remove Zhang and his son, formed a new Board of Directors. Subsidiaries such as storm around the experience since then took over, the new Board of Directors on January 30 to win the Jinan headquarters of Shanshui cement. Seals are not handed over, fighting there was bomb's father and son before withdrawing and took scenic cement seal. This directly led to "new landscape" current status anxiety. Although it succeeded in occupying the headquarters, but landscape alert of new team members appear to have been lifted. In less than five kilometers from the headquarters building where Zhang Chen Xueshi and his son and others to find a new office space, "another mountain". Not only that, but lost the headquarters of father and son through a variety of channels, and rights activists formed a new Board of Directors "fraud", mutually exclusive to each other as "illegal". More troublesome is that father and son before withdrawing and took scenic cement seal. This directly led to "new landscape" current status anxiety. Shanshui cement's new Executive Director, Li Heping told Beijing News reporter said that the absence of the seal to the advancement of the new current affairs landscape created obstacles, such as the Group of the more pressing debt problems. "Without this seal, Shanghai clearing daring we recognize the interest in money. "Li Heping said that there is a reimbursement of interest before, and in coordination with the brokerage's father and son can complete only with seal. "We find it hard to accept such things, do things to find them sealed, it does not mean recognition of their legitimacy? "Li Heping said. On February 2, 2016, said Shanshui cement, the company has published a statement in the newspaper, announced Zhang's father and son, were taken away by the official seal missing void. This approach does not seem to play a substantive effect. Father and son quickly launched to clarify a statement saying, seal is not lost and is still valid. In this case, because the business sector does not support landscape new Board has been unable to trade and Industry Bureau to complete the change of shareholders. New landscape for the Board of Directors, the present situation is "everything is only a seal." Former Board of Directors adheres to his legitimacy, "a Hong Kong-listed company, is unable to control their enterprises on the Mainland? "Landscape of cement, a senior, told reporters, the new team tried to seek support from local governments, expect the Government to help them take back the seal, and the Government advised them to judicial action, on the grounds that" this is internal strife. " "Judicial procedures have been in, but the cost is too high, awaiting sentencing landed at least six months, in view of the current situation it is difficult to afford. "The senior said. On February 18, Chen Xueshi Beijing news reporters to deny the legitimacy of the new Board. Chen Xueshi said to Zhang Caikui, Zhang bin and his own Board, is really effective Board of Directors. Chen Xue Division is the basis of the articles of incorporation. October 2015, with father and son as a representative Board of Directors modified the landscape of cement company is incorporated. Under the new regulations, "before the expiry of the term of the directors, the shareholders shall not be removed from Office nor through the amendments replace the term of Directors the company's articles. "In short, this means that father and son between the expiry of the term, shareholders have no right to dismiss. Landscape cement prison thing Liu Xianliang said, Zhang's parent-child modified company articles of when, control right struggle has continued long, for avoid himself status not insurance, Zhang's in without other shareholders informed and agreed of situation Xia on company articles do has modified; January 2016, in listed company landscape cement of prosecution Xia, Hong Kong High Court issued judgment, ordered will company articles recovery undisturbed, but due to across border law enforcement, obstacles, has the judgment failed to implementation. "A Hong Kong-listed company, is unable to control their enterprises on the Mainland? "Some listed companies have to nature of cement the status quo that they cannot understand. On February 18, Chen Xueshi Beijing news reporters, welcomed the "new landscape Board" in the Mainland court "in the Mainland under the Mainland's rule, when City Court sentenced our seal, we will also. "" Liquidation "PK" winding up of anti-"presentation of the original Board shocked the creditor banks, and immediately led to turmoil in domestic financial markets. On February 17, Li Maohuan Xiang Tianrui cement Chairman Li Liufa extended his thumb at the banquet scene, "Li Liufa is a man." His argument is that in Shanshui cement suffered "internal and external" moment, Li Liufa choose to fight with landscape workers and generously helped landscape group through its debt crisis. Shanshui cement's debt crisis began last November. While its roots are also fighting for control rights-related. In November 2015, Zhang's father and son to the in-fighting on the battlefield left a heavy "bomb": Shanshui cement without sufficient funds to repay the next 2 billion yuan ultra short financial bonds maturing; Board of Directors on November 10, 2015 after the end of trading hours submit petition to the Court of the Cayman Islands. Brought this sudden debt default and wound up, Li Maohuan understands that this is a photo of father and son fight desperatedly plan, "that means that I do not have access to, you don't want to get. "Li Maohuan, according to actual assets and credit status of Shanshui cement, far reach bankruptcy situation. At that time, the Minsheng securities pointed out that the cement landscape in 2012-2014 annual net profit was 1.5 billion yuan and 1 billion, 300 million Yuan 2015 deficit in the first half, and there is a cash crisis than before, qualification is not very bad, is not yet at the end point. Shocked by petition creditor banks of the original Board of Trustees, and immediately led to turmoil in domestic financial markets. Tianrui cement and human rights defenders, sent an urgent request to the Cayman Court rejected applications for bankruptcy liquidation for father and son. Subsequently, the Cayman Court dismissed the bankruptcy petition. 18th, in a Beijing News reporter interview, Chen Xueshi will default on its debt due to poor management of enterprises, and poorly run due to activist sent to provoke "internal chaos". "Every day there is a group who incites workers to revolt, how can workers secure? How can enterprises normal operation? "The new Board members suggested that they suspected the financial crisis came from father and son tunneling, is currently collecting and collating evidence. Or 2 billion, "profitability is easier said than done" Conference report, "said the present economic situation and the landscape group, profit, easier said than done. "As far as Tin Shui aspects, up to now, the Shanshui cement $ 500 million of debt abroad, tianrui group of money in 60 days to honour; landscapes in China Merchants Bank's 2 billion Ultrashort financial debts or advances made from the financing for tianrui, has raised more than 1 billion yuan. On February 21, the caixin reported, investors disagree, tianrui debt compensation landscape motion or difficult to implement. As of February 21, the landscape of cement has not yet revealed its 2015 annual performance, nor given notice. But according to a person close to the scenic cement told reporters conservatively estimated, the company's loss for the year, or nearly 2 billion yuan. If the result is true, this will become the landscape of cement since listing the worst performance. First half of 2015 Shanshui cement loss of 1.096 billion yuan. In 2008, the landscape of cement listed in Hong Kong, after three years, corporate performance is a triumph all the way, by the year 2011, the annual net profit has reached 2.3 billion yuan. However, after 2012, company's profitability began to decline. In 2012, the net profit was 1.6 billion yuan in 2013, net profit of 1 billion yuan. In 2014, the net profit recorded only 300 million. On February 18 this year, cement domestic landscapes large areas of trade union representatives gathered in Jinan, 2016 working meetings. Shanshui cement directors MI Jing Tian workshop report, "2016 how to profit" as a key issue to throw. New management acknowledged that no small degree of difficulty achieving this goal, "to the current economic situation and the actual condition of the landscape group, profit, easier said than done. "(Source: Beijing News author: Zhang Quanwei)
From the dark war Ming Dou, private enterprises in Henan tianrui group boss did not become a substantial shareholder on the breath after breath, more intense drama took turns on stage,
last look Shanshui cement – important nodes for the equity for the periodIn March 2015, tianrui cement Shanshui cement holdings through the secondary market. In April 2015, tianrui group into a landscape of cement shares. In May 2015, tianrui group proposed the reconstitution of the Board has been negatived. On November 10, 2015, the Shandong cement Ultrashort financial bonds default, apply to the Cayman Islands Court winding up. On November 17, 2015, the group applied to the Cayman Court dismiss the petition. On November 24, the Cayman court petition. On December 1, 2015, the Shanshui cement convened general meeting of shareholders to dismiss former management team, tianrui Group took over. On December 31, 2015, the Shanshui cement reported, the parent company of Shandong landscapes by former Director Chen Xueshi, together with a group of members broke into the headquarters, destruction of property and so on. On January 26, 2016, the Shanshui cement employees gathered in Shanshui cement group headquarters, to protest against former Board refuses to return the official seal. On January 30, 2016, the landscape law enforcement take over Shandong landscape of cement notice new Board headquarters. On February 2, 2016, the landscape of cement held "China landscape subsidiary Shandong landscape control controversy news briefing", saying it has to take full control group all enterprises except the landscape heavy industry. On February 17, 2016, Zhang Caikui and his son as a representative of the original Board of Directors said in a statement "corporate legal offices hit by the illegal" temporary office space. On February 22, 2016, water cement said in a statement, the company that the Jinan municipal people's Government and its representative to the scope of work of the Working Group and function, already constitutes a wholly-owned subsidiary of Shanshui cement landscape of illegal control in Shandong province.
"According to the Beijing News, announcements of listed companies and other public information consolidation"
(Editors: Liu Cheng UN649)
2016-03-09 11:28:43
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