Supor 0 Yuan Equity incentive investors denounced: "This is robbery"

October 11 Evening, Supor (market, interrogation) issued a notice, will be 0 yuan price to include chairman, financial Controller and the Secretary of the company, including the chief executives and staff of 5.8 million restricted shares, to the latest closing price calculated value of nearly 80 million yuan. Some investors questioned the announcement, saying it was "outright robbery". According to "investment letters" 0 yuan Shang equity incentive value of nearly 80 million according to Supor on the evening of Friday, "Zhejiang Supor Limited Stock Incentive Plan (revised draft)" (hereinafter referred to as "equity Incentive Draft"), the company intends to 0 yuan price to the incentive to grant 5.8 million shares of restrictive stocks, With the closing price of the Supor stock in Friday, 13.59 yuan, the value of this part of the shares amounted to 78.822 million yuan. The scope of the target includes a total of 114 staff members, senior managers and the company's board of directors who consider it necessary to motivate. It is noteworthy that the chairman of the Su Xianze as Supor founder and former major shareholder of the growth of the son, in 2008 is the largest shareholder in France Seb Group full control of the Supor, the Soviet growth and control of the Supor group has many times a large number of companies to reduce their shares. The Supor group holds 74.7036 million shares of listed companies, accounting for more than 11.76%, according to the report. and Su Xianze holds 70.32 shares of listed companies, accounting for more than 0.11%. For this part of the restricted stock, the equity incentive draft stipulates that there will be a 12-month lock-up period after the lockout period, the part of the stock is unlocked by stages. The conditions for unlocking the performance of the company from 2013 to 2016. During this period of assessment, the company's annual return on net assets is not less than 13%, at the same time to achieve the domestic income and domestic business profit completion rate of the preset minimum, otherwise its stock can not unlock the amount of locks, by the company repurchase cancellation; But if the subsequent years make up for the performance gap of the previous year, The excitation object can unlock some restricted stocks in the previous year under this condition. Investors are less than 0 yuan Shang diluted the interests of the majority of shareholders for the above "0 yuan Shang" and performance of the assessment criteria, some investors expressed doubts. Signed as "Huang Jianping" investors believe that, first of all, the company to 0 yuan price directly send out tens of millions of of the value of the stock to employees, is tantamount to diluted the interests of the majority of shareholders, this part of the cost is equal to all the shareholders pay, extremely rare. Second, the annual report shows that the net assets yield of Supor 2010-2012 years is 17.58%, 18.38%, the first half of 16.24%,2013 year the weighted net assets yield is 8.77%, the annual return of net assets is 17.54%. In other words, the average earnings of the company in the last four years are 17.44%. and unlock the test standard 13% compared to the company's assessment standards than the actual performance hit 75 percent, obviously lost the "assessment" of the significance. Finally, the company's unlocking conditions to domestic income and domestic operating profit as the assessment target, but the shareholders ' rights and interests are reflected by the company's net profit. Not to mention income and operating profitThe net profit, the appraisal target and the shareholder's benefit run counter. The company may sacrifice net profit through other channels to fulfill the target of income and operating profit, so as to achieve the goal of incentive target and shareholder damage. Huang Jianping finally commented: "Supor this incentive scheme and direct delivery of money is not a big difference, obviously encroach on shareholder interests, blatant robbery, ask the SFC and shareholders to open their eyes." "The company's shares were significantly pulled up before the close of Friday. However, according to the company's equity incentive draft announcement, the company will convene a provisional general meeting on October 22, the vote by all shareholders to review. The shareholding structure of the company shows that the proportion of SEBINTERNATIONALES.A.S shareholding of large shareholder has already reached 71.31%, obviously its intention will directly decide the passage of the bill. In the secondary market, Supor in Friday before the close of the stock price has obviously pulled up the signs, do not rule out some "foresight" of the funds to its equity incentive scheme holding "bullish" views.