Oriental Hotel "reneged" competition all directors were dismissed

Facing Oriental Hotel (000524. SZ) in the solution of the competition on the issue of repeated promises, there are small scattered finally sit down. April 2, Oriental Hotel issued "on the 2013 annual shareholder meeting to increase the provisional proposal of the announcement," said March 31, 2014, the company's board of directors received shareholder Zhenhua, Senli's provisional proposal "on the dismissal of all directors of the company's motion", the proposal that because the company directors failed to perform their duty of diligence, To dismiss all the directors of the company and submit it to the annual general meeting of 2013. According to the 2013 annual report revealed by Oriental Hotel, by the end of last year, including 3 independent directors, the board of Oriental Guesthouse had a total of 9, of which 6 directors were "state directors" with the background of state-owned enterprises, Feng Jin, Vice Chairman Lin Wei-min, director Zhangzhuyun, Li Feng, Zhu Tong and directors of the company, respectively. The Secretary of the Board Zheng. Oriental Hotel said that the provisional proposal was a general resolution in accordance with the provisions of the Articles of incorporation. The Board of Directors of the company considers that the sponsor's identity complies with the relevant provisions, that the provisional proposal has clear issues and specific resolutions, is within the purview of the general meeting of shareholders, complies with the relevant provisions of the laws, administrative regulations and articles of incorporation, and agrees to submit the interim proposal to the company for consideration at In this regard, a Changjiang securities analyst said that two individual shareholders proposed to dismiss all the directors, mainly because the Oriental Hotel failed to eliminate competition. It also expresses a feeling of dissatisfaction with the company. The same day, Oriental Hotel Securities representative Wu Yu to our correspondent said, "the company received the above-mentioned individual shareholder's stock list and the bill, according to the relevant procedures in time for the announcement." In the next step, the company will not take any measures against the shareholders in this regard, but rather leave it to the shareholders ' meeting for final decision. In addition, Wu Yu further alleges that the company is not in a better business to provide more detailed information to the outside world as the individual shareholder is an insider information insider. "I can only say that they are two outsiders. "and the two of them are joint proposals," Wu Yu said. They would not be in a condition to propose a provisional motion if they were to be counted by a single shareholder. "However, the battle is not at the same weight level today." Up to now, as the company's largest shareholder Guangzhou Oriental Hotel Group's controlling shareholder and the company's second largest shareholder, Guangzhou Lingnan International Enterprise Group (Lingnan Group) directly and indirectly control the company's 51.55% stake, the company's top two shareholders respectively holding 100.3017 million shares and 38.7122 million shares. "Since the provisional proposal is only a general motion, the majority shareholder of the company does not need to avoid voting, and they can vote on this." "Wu Yu made it clear. and Oriental Hotel previously disclosed 2013 annual report, in the reporting period, in the company's top ten circulating shareholders, Senli and Zhenhua respectively 3.4852 million shares and 2.8037 million shares of the shares of natural persons of the principal and secondary seats, respectively, after Oriental Hotel two major shareholderAfter。 In addition to the heavy Cang Dongfang Hotel, Zhenhua has also appeared in the China Sea Technology (002401) many times. SZ), Chi Yun shares (300097. SZ), has research silicon Unit (600206. SH) and other listed companies in the list of the top ten circulating stock shareholders. and Senli at the end of last year's third quarter of the stock holding hundred shares (002455. SZ), the final 1.0028 million shares, for the third quarter of last year. In fact, since the Lingnan group became the new controlling shareholder of Oriental Hotel since 2009, its long-standing competition problem has repeatedly been criticized by the market, and the circulation shareholders are also quite resentful. On March 29 this year, the company's latest "bulletin on the company and its associated parties ' commitment to progress" also indicated that, as of the announcement date, the Lingnan group had not yet fulfilled its commitment to complete its 2009 acquisition report. Back to 2009, the Lingnan Group transferred directly to the Oriental Hotel through the shareholding of 14.36% of the shares, and through the Oriental Hotel group indirectly holding Oriental Hotel 37.19% of the equity. October 13, 2009, Oriental Hotel announced the Lingnan Group's "acquisition report." According to the acquisition report, Lingnan Group initially promised to be in the 24 months after the transfer of equity, according to the Guangzhou government industry integration strategic deployment and future capital market situation, and in line with the relevant laws and regulations, the Lingnan group will use the platform of listed companies, gradually integrate the hotel business within the group. These high-quality assets, including the Guangzhou Garden Hotel, China Hotel, Guangzhou Lingnan International Hotel Management Co., Ltd. and other high-quality Hotel resources. However, on April 17, 2012, the Lingnan Group informed the company in writing that the results of the assessment of the underlying assets involved in the purchase of the shares had not yet been approved or filed by the state-owned regulatory authority, and the preparation of the report to the superior authorities was carried out. On the same day, the company board of Directors considered the adoption of the "corporate termination of major assets reorganization of the bill." Lingnan Group only said that in the future will be based on the situation changes, timing to remove the competition issues related matters. "As far as we know, the results of the previous assessment has not been approved, mainly because of the Guangzhou SASAC on the purchase price objections." "The company has not been able to refinance its capital markets in recent years because the problem has not been solved," said the analyst of the Changjiang Securities. "So far, the market to the company and the expectation is to be able to take the Guangdong state-owned enterprises reform Dongfeng, promote the large shareholder's hotel assets injected." "the analyst said. However, the company's response is that up to now, in the foreseeable time, in addition to Nansha Hotel, the company has no other major foreign assets investment plans.