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Market price: 1 cent return for each approved share
Our reporter Si Rui Fang Yushu was sent from Shanghai
What can I buy for a penny? It seems that it can't buy any goods, but it may change the voting results of the split share structure reform.
On the internal office system of a securities firm, the reporter of China Business News found the notice sent by the company to the head of each branch as follows:
Zhengzhou Coal Power（ information quotation forum ）The voting date of the shareholders of tradable shares is (August 9 to August 15). In order to make the business department actively cooperate with the company's share trading reform, Zhengzhou Coal Power promised that the approval rate in the company's system would be 70% (including 70%). For the business department with the approval vote of the shareholders of tradable shares during the voting period, the business department will be given a promotion fee of 0.01 yuan for each share of approval vote. If the approval rate reaches 75% (including 75%), The promotion fee is calculated as per the affirmative vote of 0.03 yuan per share.
According to insiders of the broker, they told reporters that there were three listed companies in their company's office system according to similar notices. The notice document indicates that it is confidential document that shall not be transmitted.
The total outstanding A-share capital of Zhengzhou Coal Power is 216 million shares. Assuming that the company and all the securities companies have similar commitments as above, and all the shareholders of tradable shares have voted in favor, that is, the approval rate exceeds 75%, the company must pay 6.48 million yuan of promotional fees to the securities companies.
On August 15, the voting results of Zhengzhou Coal and Power Co., Ltd. were announced. 84.039 million shares were outstanding, of which 77.726 million were in favor, with a approval rate of 92.49%.
"Such practices as Zhengzhou Coal and Electricity are actually open secrets in the industry". The manager of a securities firm's business department told the truth.
According to the reporter, some pilot listed companies, in addition to the "promotion fee" price of 0.01 yuan/share. Some even directly give feedback to the shareholders of tradable shares, paying them directly in the name of "transportation expenses", "meal expenses", etc.
An employee of the business department of a securities firm disclosed that the business department has shared the register of shareholders with the listed company and its sponsor. The listed company, non tradable shareholders and the sponsor treat large customers by door-to-door or telephone communication, while for small shareholders, the business department of the securities firm is entrusted to organize communication.
The notice issued by the brokerage management department of another securities firm to the branch wrote, "Recently, one after another listed companies have taken the initiative to find our company to discuss the investor intention investigation, registration, voting and other matters. From the perspective of expanding brokerage business, Non tradable shares The reform contains great opportunities, but there are also certain risks. "
"All branches should fully understand the importance and urgency of the split share structure reform from the perspective of overall situation and strategy, attach great importance to and carefully arrange, so as to lay a solid foundation for all-round cooperation with listed companies in the future on share custody and other businesses to create new profit growth points."
According to the staff of a business department of the securities firm, the business department has cooperated with at least four listed companies so far, most of which are the recommendation institutions and securities firms who have contacted in advance to discuss the promotion of voting matters, and even one listed company has sent its business personnel to the business department to assist in the exchange of shareholders.
In another notice of the securities firm, it was clearly stated that a securities company would be the sponsor of a company's pilot reform of non tradable shares, and all business departments should cooperate with the securities company to do a good job in value-added services of non tradable shares, contact shareholders of the listed company as soon as possible, especially key customers, do a good job in collecting voting rights and publicity, and provide door-to-door services to customers in need, Be sure to win the voting rights of customers through various effective ways, and encourage customers to support the reform plan. At the same time, the effective work of the business department is also a value-added service attempt of the brokerage business.
The investor who opened an account at a securities firm told the reporter that a listed company "rewards" shareholders who vote in this way: shares The shareholders who voted in favor can obtain one USB flash disk (flash disk); Another listed company is to reimburse transportation expenses.
Reporter's notes
Who pays the bill is the key to legality and illegality
One is willing to fight and the other is willing to suffer, which is also a matter of course. But for those shareholders of tradable shares who did not receive benefits but voted against them, they really became a vulnerable group.
Have the holders of tradable shares who originally intended to vote against but voted in favour because they received benefits ever thought about that "the wool may come from sheep"?
According to the above notice issued for Zhengzhou Coal Power, if the broker's statement is correct, "Zhengzhou Coal Power Commitment" should mean that the promotion fee is paid by the listed company Zhengzhou Coal Power. According to this conjecture, it should have been the consideration plan paid by the non tradable shareholders to the tradable shareholders, and finally the money of all shareholders was used to buy the affirmative votes of the tradable shareholders.
The reporter once interviewed Fu Shenglong, the secretary of the board of directors of Zhengzhou Coal and Electricity, by telephone about this situation. He cautiously said, "I still need to implement this situation." Later, Fu Shenglong called our newspaper, saying that he did not know about this situation, and that listed companies have never done this.
I will not explore whether Zhengzhou Coal and Electricity Company is aware of this notice for the time being. If the promotion fee is really paid by the listed company, is it appropriate to apply it to the share reform?
"This is obviously unreasonable. Personally, I think this behavior is equivalent to the use of the control power of the listed company by large shareholders, taking advantage of small shareholders, and obtaining more affirmative votes with the funds of the listed company. In nature, it is similar to the use of the funds of the listed company," judged Wang Hanqi, a lawyer of Dacheng Law Firm.
Reported on the same day:
Zhengzhou Coal and Power Co., Ltd. broke through the customs to identify the funds held by major shareholders through repurchase
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
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