Bain Capital ignores Mr Huang's camp for a formal gesture to support Mr. Chen

Ann from Shanghai September 16 News, the Chenhuang of the situation looks increasingly clear, today, people familiar with the information to Sina, Chen Xiao has won the support of most agencies.　　In addition, Gome two shareholder Bain shares at night also ended the ambiguous attitude, formally expressed support to Chen Xiao's gome board of directors, and against Huang Guangyu's proposal. Seven o'clock last evening, Bain Capital completed the "debt-to-equity swap": 1.59 billion yuan of debt investment for equity conversion, thus owning 9.98% of Gome shares, become the second largest shareholder.　　Bain's move led to the dilution of Mr Huang's family's shares to 32.47%. In terms of equity ratios, Chen's holdings will rise to about 16% per cent, with a 5% stake in Chen's 1.47% and former wing-Lok executives.　　In this situation, the vote of the other investors on 28th is even more significant. After several analysis that Bain became Gome's second largest shareholder, will temporarily do not make a stand, in order to get a heavier chip between Chen Xiao or Huang Guangyu.　　Yesterday afternoon, Huang Guangyu in the form of public communications to Bain. "Founder shareholders are delighted to have the opportunity to work with Bain, and we believe Bain will bring valuable expertise and experience to the company," he said. We will continue to work together with other relevant gome stakeholders to bring Gome's development to a new level. Founding shareholders are committed to working with all stakeholders to develop gome operations and to increase Gome's value.　　Huang Guangyu conveyed the above meaning to bain yesterday. But Bain today expressed overall support for Gome's board of directors: they did well in tough times.　　Upon the completion of the debt-to-equity swap, we will vote in favour of the management on the resolution of the extraordinary general Meeting of September 28, vote for the first, two and three votes and vote against the fourth to eighth.　　On Bain's endorsement of the board, major shareholder shinning Crown also through Sina Financial response said: After the swap, Bain from corporate bondholders into shareholders, but no longer rely on the "strict investment protection clause" of the financial investors, it should be the company's long-term shareholders to participate in corporate affairs. "It's not the most important thing that Bain voted for." It is important that the resolution of the 9.28 Special shareholders ' meeting be able to guarantee the integrity, stability and health of gome, to solve the contradictions and disputes already existing in the company, to rebuild and perfect the damaged corporate governance structure, and the restructured board of Directors to be able to put an end to the current chaotic situation. After 9.28 of Gome to be able to return to the high-speed development of the track, and to stabilize the industry's first leading position!　　"Major shareholder Shinning Crown said.　　Before Bain's position, two of the most powerful voting advisers who had a significant impact on the agency's voters, Glass Lewis and ISS, had both declared support for the Gome board and opposed Mr Huang's proposal. At present, Mr Huang's nominee executive director Shaochun to Hong Kong last week to communicate with investors, but has not been releasedProgress in negotiations with institutional investors. And the board of Directors has been positive, two very influential independent polling advisers and the second largest shareholder Bain Capital has expressed support for it, close to both sides of the analysis, the current situation seems to be relatively positive for Chen Xiao Camp.