Deep development of the original stock to share a hopeless market value or will be a bubble

The original stock was expected to be converted to common stock after the change is tens of millions of dollars, but shrunk into thousands of dividends.　　Wei Xihua, which holds 100 shares of the Shenzhen Development Bank (000001), has received a court judgement recently, and the change of share request was dismissed. The original stock was expected to be converted to common stock after the change is tens of millions of dollars, but shrunk into thousands of dividends. Wei Xihua, which holds 100 shares of the Shenzhen Development Bank (000001), has recently received a court verdict. Shenzhen Luohu District People's Court ruled that the plaintiff Wei Xihua held the 1988 issue of the deep development of the 000272 preferred shares is legal, but the court dismissed the plaintiff's request to convert preferred shares to common stock, only the defendant to the development of the plaintiff to distribute 1992 (excluding 1992 years) before the dividend.　　The plaintiff, Wei Xihua, said he would appeal to the Shenzhen Intermediate People's Court in recent days. The authenticity of the original shares was recognized because the case involved in the stock system deep development in 1988 issued, from this time span of more than 20 years, to the evidence, quality certificate brought difficulty.　　Shenzhen The People's Court of Luohu district in August 2009 and October after the two trial commenced, until the recent decision. The plaintiff, Wei Xihua, filed three motions in the pleadings of the first instance, requesting the Court to decree that the defendant's 000272 preferred shares issued by the plaintiff in 1988 were valid and valid, and that the defendant should pay dividends, dividend, Tianquan and convert the plaintiff to common stock according to the principle of same share rights.　　The third is to confirm that the plaintiff is the legal shareholder of the defendant company. In its judgement, the Court confirmed the legality of the 000272 preferred shares of the defendant's Wei Xihua, who had developed a dividend prior to the date of 1992 (excluding 1992 years) to the plaintiff within 10th after the decision came into effect. In 1988, the dividend rate was increased by 3 pct (3%) per month for individual one-year HKD deposit interest rates from April to the end of that year, with a 1989 dividend of HK $1225, 1990,　　The 1991 dividend rate, respectively, is the monthly interest rate for individual one-year HKD deposits, which increases by 4 per cent annually on average.　　As to whether the plaintiff was a legitimate shareholder of the defendant company, the court found that the plaintiff was a preferred shareholder of the defendant company before the defendant's board of directors had decided to redeem the preferred shares; the plaintiff was no longer the defendant's shareholder after the defendant issued a notice in April 1995 to redeem all remaining preferred shares. The change of share request was dismissed as the plaintiff's most concerned claim to convert preferred stock into common stock, the Court held that the plaintiff was not required to transact the conversion at a specified time on the basis of the defendant's notice, and should not be blamed on the defendant, and therefore the plaintiff now requires no basis for converting the preferred stock　　The defendant can only be asked to redeem his preferred shares. The information shows that the 1991 Board resolution and the special shareholder meeting adopted the swap option of "a Preferred stock exchange for nine common Shares". As of June 16, 1993, 158 shares of foreign exchange preferred stock had not been converted into common stock. 1The 994-year deep Development Board resolution decided to redeem the remaining 158 stock shares at 2.35 times times the par value of the preferred shares, or HK $235.　　So far, only 23 shares of HKD preferred stock have not yet been redeemed. The court found that when the defendant's deep Development Board decided to redeem preferred shares, it had indicated that the remaining preferred shares would not be converted to common stock.　　But the plaintiff lawyer Wang Changchun, Li Ji, a lawyer from Guangdong state law firm, believes that the decision of the Board that determines the preferred Stock redemption scheme is invalid and non-binding. One of the details that cannot be overlooked is that the 23 shares of foreign exchange preferred shares that have not yet been converted have not included Wei Xihua.