One piece of information: Li Yas response was dismissed: dismissal mail has no legal significance

 One piece of information: Li Yas response was dismissed: dismissal mail has no legal significance

Sanyan Finance and Economics News January 22, a little information CEO Li Ya sent an internal mail today, saying that January 21 CEO appointment and removal mail procedures are irregular, does not have a legal sense of appointment and removal effect. He said that in recent large-scale financing, there have been major differences between major shareholders.

It is reported that on January 21, a little information internal executive adjustment, the former CEO Li Ya was removed, Ren Xuyang took over the CEO position. According to Tencents Front Line report, close to a point of information sources said that a point of information intends to list in domestic A shares, dismantling the VIE framework, Phoenix will withdraw completely.

The following is Li Yas e-mail response:

To the core information stakeholders,

Last night, I received an email about CEO appointment and dismissal. Like many colleagues and colleagues, I was shocked suddenly. Besides all kinds of feelings, first of all, I say sorry - let everyone worry about the company for me!

Under the unique resources and paths, the development of a little information is at a critical moment. Especially in the recent round of large shareholderstransfer of old shares and large-scale financing of new shares, there have been extremely complex and even major divergences. I had some psychological preparations for the intensification of conflicts, but I did not expect such absurdity, abruptness and recklessness.

Modern corporate governance is the cornerstone of the corporate system. The email notice received on Monday night is irregular and has no legal effect on appointment and removal. According to my communication with some directors and shareholders, apart from the initiator of the motion, the two directors and shareholders who spoke at the teleconference expressed their views as temporary notification of such an important event, which requires internal discussion and a process to give their opinions after the meeting. In addition, no other directors and shareholders spoke, let alone expressed their opinions in support of the motion.

Such an important matter requires not only confirmation of the quorum of shareholdersmeeting and board of directors meeting the requirements of the companys articles of association and the proportion of votes, but also formal statement on the basis of full and accurate understanding of the background and key information of the bill by the directors and shareholders, after discussion and the required compliance process within the shareholders, and only formal signature of board resolutions and shareholders can be seen. The notice of appointment and removal of personnel shall take effect only after the resolution of the meeting. However, the full staff notification mail is so eager to wait, which not only shows the motives guilt, but also reveals the extreme disregard for corporate governance and corporate reputation.

Source: Sanyan Financial Responsibility Editor: Yao Liwei_NT6056