Wantong Technological Employee Stock Ownership Plan Loss Clearance Controlling Shareholders Take Over and Consolidate Control Rights

category:Finance
 Wantong Technological Employee Stock Ownership Plan Loss Clearance Controlling Shareholders Take Over and Consolidate Control Rights


Employee Stock Ownership Scheme Loss Clearance

According to Wantong Science and Technology Bulletin, the companys employee stock ownership was sold out through a large transaction on September 6. The reduction resulted in a total of 46162,000 shares sold, accounting for 1.12% of the total equity of listed companies.

According to the data disclosed by Shenzhen Stock Exchange, the reduction price of Anhui Tong Technological Employee Stock Ownership is 1131 yuan per share, totaling 52.2097 million yuan. At the close of September 6, Wantong Technologies shares closed at 11.29 yuan per share, with the transfer price of Silver Valley in South China slightly higher than that.

Although the cash is more than 50 million yuan at a time, people who participate in employee stock ownership may not be happy.

In retrospect, Wantong Science and Technology disclosed the draft Employee Stock Ownership Plan (ESOP) in September 2016. The total number of employees involved in the plan is not more than 310, and the plan is to raise no more than 75 million yuan to buy shares in the company. After the approval of the shareholdersmeeting, employee stock ownership began to buy rapidly. As of November 11, 2016, employee stock ownership purchased 4.616 million shares of Anhui Tong Science and Technology Stock from the secondary market through the Directional Asset Management Plan No. 27 of Dongxing Jinhai, with a turnover value of 73.2685 million yuan and an average transaction price of 1587 yuan per share.

According to the draft Employee Stock Ownership Plan (ESOP), participants are at their own risk. In an interview, Anhui Tong Science and Technology Securities Department related personnel also told the Daily Economic News reporter that there is no bottom line clause in the draft employee stock ownership plan.

For Anhui Tong technology employees who participate in employee stock ownership, it is a pity that they pay for the companys stock, but encounter such a result.

Anhui Tong Technologies said that this has no impact on (employee sentiment). The duration of employee stock ownership is approaching in October. Because there is no extension plan, the company shares it holds also need to be sold within the period. The person stressed that employee stock ownership is the responsibility of the management committee and has nothing to do with the controlling shareholders of listed companies.

Southern Silver Valley

It is worth mentioning that the loss and loss of Anhui Tong Technology Employeesshareholding is the completion of the companys controlling shareholder, Southern Silver Valley, because Southern Silver Valley is in the process of large-scale solicitation.

In March this year, Wang Zhongsheng, Yang Shining and Yang Xinzi, the original actual controllers of Anhui Tong Science and Technology, entrusted their voting rights to the Southern Silver Valley, which accounted for 20.0668 million shares, or 5%. As a result, the total number of shares held and voting rights held by Silver Valley in South China amounted to 501.251 million shares, accounting for 12.16%. As a result, Southern Silver Valley has become the controlling shareholder of listed companies, and Southern Silver Valley Actual Controller Week has developed into a new actual controller of listed companies.

According to Wantong Science and Technologys original plan, the companys provisional shareholdersmeeting only considers the proposal to elect the director of the company during the week. There is a direct competition between Zhou and Li.

On March 22, Sun Sheng, former director of Anhui Tong Science and Technology, announced his resignation. Faced with the vacancy of the board of directors, the two shareholders are also rapidly competing. On March 22, Yingu Southern and Wang Zhongsheng jointly issued a temporary proposal to nominate Wang Bohan as a candidate for the board of directors. Meanwhile, five shareholders, including Liangshan, also increased the nomination of Wang Hui as a candidate for the board of directors. In the end, each side scored a point. Zhou Development and Li Zhen were successfully elected as directors of Anhui Tong Science and Technology.

Shortly after the provisional shareholdersmeeting, the southern Silver Valley began to increase its holdings substantially. On May 8, Anhui Tong Science and Technology disclosed that Yingu Southern had raised its share-holding ratio to 9.4989% by increasing its holdings. On June 5, listed companies again disclosed that after the increase of Yingu Southern, they held 44.61.99 million shares, accounting for 10.8265% of the companys total equity, and 65.2267 million shares with voting rights, accounting for 15.8265% of the companys total equity.

At the end of June, Anhui Tong Science and Technology disclosed that Yingu in South China, together with Wang Zhongsheng, Yang Shining and Yang Xinzi, constituted a concerted action relationship with a total of 87.685 million shares, with a share-holding ratio of 21.28%. After that, the growth of the Southern Silver Valley did not stop. As of July 10, the Southern Silver Valley held 49.0445 million shares, with a share-holding ratio of 11.90%. From July 11 to 26, Silver Valley of South China increased its holding by 29.333 million shares through centralized bidding; together with the shares of Wantong Science and Technology Employees, Silver Valley of South China currently holds 56.593 million shares, with a total holding ratio of 13.73%; Silver Valley of South China holds 99.659 million shares with Wang Zhongsheng, Yang Shining and Yang Xinzi, with a total holding ratio of 24.18%. At present, the controlling position of the southern Silver Valley has been relatively stable.

Source: Daily Economic News Responsible Editor: Zhong Qiming_NF5619