Zijin Mining 10 Executive Board Chairman Jinghe stock right concealed two suspense

Every reporter Zhangjilu yesterday Zijin mining (601899, close 9.43 yuan) announced that the chairman of the Jinghe June 12 through the Shanghai Stock Exchange on a large trading platform to transfer the shares of its 27.594 million shares, of which 21 million shares to 9.15 yuan/　　The price of the shares was sold to 10 senior executives, including vice chairman Lo Jingnan.　　Market participants questioned whether such a large area of "distribution" to the company's executives, in the end is a disguised equity incentive, or to help the Chairman of the spread of cash?　　A disguised equity incentive? Market Personage pointed out, the listed company implements the stock option incentive plan, needs to make the corresponding account processing, then has the big negative influence to the company net profit, to some extent will damage the company circulation stock shareholder's benefit. In addition, if the incentive scheme by shareholders to provide shares, it should be given to (or transferred to) listed companies, listed companies in the repurchase shareholder shares after the approval of the regulatory authorities for the record.　　And through the two-tier market direct transfer is to save the above process, can be described as stone.　　Bohai Securities industry analyst Haiming also believes that the current domestic mining enterprises are in a period of active expansion, so Zijin mining inside the possibility of the introduction of disguised equity incentive is relatively large.　　Another noticeable detail is that "equity incentive related Matters Memo No. 2nd" stipulates that the supervisors of listed companies shall not become the object of equity incentive, but Zijin mining in this share of the object of the shares of two people for the company supervisor, the above regulations or Zijin mining the launch of the "alternative" equity incentive plan another incentive.　　However, Yan, a leading securities lawyer in Shanghai, said in an interview with the daily economic news that it was doubtful whether the company's executives had made enough cash to subscribe to the shares.　　The announcement content shows, Zijin Mining vice Chairman Lo Jingnan, Lon Fusseng respectively 5 million shares, senior President Laichang obtained 1 million shares, in addition, Liu Rongchun (Vice President), Chen Jiahong and other 7 senior executives were given 3 million to 500,000 shares. Reporters check Zijin Mining Annual report, Lo Jingnan, Lon Fusseng are in August 2000 to Zijin Mining Service (which Lon Fusseng also serves as Xiamen Zijin Copper Crown Investment Development company chairman), 2008 their annual salary (before tax) is 3.5267 million yuan and 2.2344 million yuan respectively. If the nine-year two executives ' salaries were calculated as the average price last year, the 9-year salary amounted to 31.75 million and 20.11 million yuan.　　Yan that the total wages after tax reduction at least 35%, the actual overall remuneration of about 20.63 million yuan and 13.07 million yuan, and 9.15 yuan/share of 5 million shares of the shares of 45.75 million yuan a far cry.　　Spread out?　　If not the equity incentive, is the chairman Jinghe anxious to reduce the set now? Before, Xinhua Group chairman Chen, Heng Hing Group Control People Coshiping in the reduction of Zijin mining has been involved in other shares of equity investment.　　In this respect, Yan said, it would be reasonable if Jinghe to invest in other better opportunities by reducing its holdings. However, the Chairman's substantial reduction of the company's share price will bring great negativeSurface effects. Industry insiders believe that the transfer to the company's executives of alternative approaches may bring less pressure on the market. Yan also think that if he suddenly reduce so much, the market will be very large, and scattered reduction of the market will be less impact.　　The 10 executives may be hedging their strategies by first being let down and then gradually reducing their holdings. Ping An securities senior strategy analyst Cai told reporters that 9.15 yuan/share of the transfer price and Zijin mining shares similar, the Monday share price in the vicinity of 9 yuan, the listed executives can be purchased through the two-level market, unless in the process of the transferee discount.