The difficulty of repurchase for large shareholders 20% stake suspense in Xindu Hotel

Chen Jianjun Although the contract has been signed for more than a year, but the first major shareholder of the Xindu Hotel shares repurchase seems difficult to implement, and this Friday is the last day of the repurchase. April 25, 2007, the first major shareholder of Xindu Hotel Shenzhen Investment Co., Ltd. shareholder Shenzhen and Wang Investment Development Co., Ltd., Shenzhen Investment Company, Liu Fang, Zhu Dashan and South Bank huitong Information Technology (Beijing) Co., Ltd. signed the loan agreement, the agreement on the loan of Han Ming company to the South Bank Corporation,　　The Framework agreement-the Agreement on the transfer of shares; if the original shareholders and FA of Han Ming company did not implement and complete the repurchase act in accordance with the contract before 29th this month, according to the agreement of the contract, the Bank will cooperate with the original shareholder or FA of Han Ming company to deal with the 66.15 million shares of the Xindu Hotel under the name of Han Ming company. The Xindu Hotel said recently that according to Han Ming's reply and the South Bank's reply, although the original shareholders and FA of the company have all enjoyed the right to buy back the shares of the company from the bank, the original shareholders of Han Ming have not yet made clear that the shares of the company will be bought back by the date of the repurchase agreement.　　At present, the South Bank company and the Han Ming company original shareholders or FA has not yet been consulted on the follow-up matters. by Yu Yu-ming company held 66.15 million shares of the total capital of the Xindu Hotel 20.08%, so its "whereabouts" has attracted much attention.　　Xindu Hotel said that the actual control of the company has not recently signed any relevant documents with any other companies on the transfer of shares of the company, and promised that in the past three months there will be no major asset reorganization, acquisition, issue shares and other acts. It is understood that the Xindu Hotel 2008 the main business of the loss, but the overall operating performance due to the existence of a certain amount of non-recurrent profit and loss. Xindu Hotel said that because of the overall hotel business downturn in Shenzhen, the company expects 2009.5 annual performance is still a loss. Up to now, the company's financial situation has not been substantially improved, the operating difficulties can not be effectively reversed.