The anniversary of the gem: Senior executives leaving the lifting tide

New Express Trainee reporter Chen Qinglin October 30, a A-share gem is about to usher in a "birthday", but also ushered in the first pioneering board lifted flood peak. Data show that, in addition to the extension of the shares of the Bao Tak to October 30, 2012, the first batch of gem 27 companies total 1.194 billion shares of restricted shares will be lifted on November 1 trading day, according to the current stock price, the lifting of the market value will exceed 30 billion yuan.　　And in the lifting of the tide, the gem listed company executives have Ching leave, people are deeply anxious to set the present intention.　　Senior executives resign as cash　　As the gem of the IPO, creating a lot of "paper" rich, but these through the management of the stock ownership plan produced by the "senior" shareholders, but the gem is not yet full years of age, then hurriedly left its senior positions. The first is the same flush original Dong secret and the original supervisor Yichome in the enterprise listing only 15 trading days on the choice to leave, followed by Silver Deputy general Manager Chang 3 day back its footsteps.　　With the September 10 Netac technology release chairman and general manager resignation notice, Deng became the gem on a hurried off the field of the 36th senior executive. Public information shows that the resignation of these senior executives, the highest number of individuals holding the NETAC technology as the original chairman and general manager of Deng, which holds 15.45 million shares, followed by the game for the intelligence of the original Dong, deputy general manager Zhou Yi, total holding 6.79 million shares, and then Jinya Science and Technology, the original director of Lu Yin, At present, the stock market value of Deng, Zhou Yi and Lu Yin is 451 million yuan, 206 million yuan and 85 million yuan respectively.　　Once they are lifted, they will have a major impact on the listed companies and the market. According to the relevant regulations, the Board of Directors shall not transfer the shares of the company within 12 months from the date of the stock listing, and the shares transferred in the period of term no more than 25% of the total number of shares held by the company. After the resignation of senior executives, their holdings of shares restricted to half a year.　　This means that executives "resign" can be exempted from the annual reduction of the shares of listed companies not exceeding the 25% per cent of the shares held by the non-listed company. The negative effects should not be underestimated. Bypassing regulators ' rules on the listing of executives in listed companies, and early hedging seems to be the main reason for retrospective.　　Market Personage said, in the final analysis, the reason that the senior executives leave is the current gem valuation is too high, industrial capital reduction impulse is bigger. However, the reduction of capital may be only an inducement, behind which the uncertainty of corporate growth is also responsible for the runaway executives. "Gem stock can rise to the sky, but also can fall underground, a swarm of speculation and blindly sought for the stock price ups and downs to bury the curse." Analysts said, "Gem listed Enterprise Group Collective shareholding is a common phenomenon, for executives, listing can enjoy a capital premium, and talent attraction and incentives have a positive effect, but this is not a panacea." "This shows that the success of the listing for some qualified executives, more is a kind of professional accumulation, so once in the right time to meetBetter chance, they will choose to leave. Pihai, a prominent financial critic, points out that the negative impact of executive resignation on the stock market cannot be underestimated.　　First, the resignation of senior managers has intensified the original stock of the gem lifted the pressure, executive resignation kits are now perceived by the market as executives who are not optimistic about the company's development or that the company's share price is overvalued, shaking investors ' confidence, and that the resignation of senior executives makes the company's management unstable and has a negative impact on the company's future development. Second-quarter agencies rushed to evacuate the two-tier market, September 20, the gem continued to expand the depth of adjustment, the whole day fell 2.37%, nearly 5 trading days cumulative decline of 8.95%.　　Perhaps to see the gem in the next few months will plunge in anticipation, in the lifting tide is coming, some private placement, public offering has begun to evacuate. The fourth quarterly Bulletin of 2009 shows that 26 fund companies have 68 fund products in heavy warehouse holding the first 28 gem companies, among them, there are 13 fund stores Huayi Brothers, 8 Fund heavy warehouse China Yue, Jiffeng farm machinery, robots, Red Sun medicine and Le PU medical care, etc. are also more than a fund to hold a heavy warehouse respectively. And to the first quarter of this year, the second batch of new Venture board fund plummeted to 17, the number of stock-holding fund products decreased by 75%.　　By the end of the second quarter of this year, only 8 fund companies under the 14 fund products heavy Warehouse shares the above 28 gem companies. There are also private equity funds in line with public-offering ideas. Public data show that 51 gem listed companies reported that the withdrawal of private equity funds have the special Rui Tak, South wind shares, Love eye, super Map software, Wambonda and other companies.