Gome Huang Guangyu Chen version of the end of the Hundred Days war reconciliation.

Huang Chen <P> reconciliation between the two parties, regardless of whether it is a temporary compromise, at least have made the brink of disintegration of the country in the United States back to a relatively stable state. .As the United States asserted in the notice, the two sides will cooperate in all respects, to build a stronger and more profitable company. .In just the past hundred days of this, Chen and Huang aspects of family control of the United States around the country staged a classic war drama quotient. .</ P> <P> from the August 4 letter called for the repeal Chen Huang, Sun D director for a date, exactly one hundred days to the present day. .</ P> <P align=center> </ P> <P> come to the eve of the one hundred days, the two sides finally reached a settlement Chen Huang, signed a memorandum of understanding with the force of law, Huang's two representatives Zou Xiaochun, Huang Yanhong .will enter the board of directors, non-listed Gome stores temporarily split. .</ P> <P> Huang Chen reconciliation, regardless of whether it is a temporary compromise, at least have made the brink of disintegration of the country in the United States back to a relatively stable state. .As the United States asserted in the notice, the two sides will cooperate in all respects, to build a stronger and more profitable company. .In just the past hundred days of this, Chen and Huang aspects of family control of the United States around the country staged a classic war drama quotient. .</ P> <P> fuse: Huang Guangyu, Chen sent a letter called for the repeal duties </ P> <P> Huang and Chen's complete break begins August 4, 2010. .The same day, Huang Shinning Crown-owned company sent a letter to request the convening of general meetings Gome and revocation of Chen, Sun Yi-Ding duties. .5 letter proposed requirements, which is after the September 28th general meeting of Huang's five motion, specifically including, revocation of the board of directors authorized issuance, revocation Chen, Sun's director of a D, the nomination Zou Xiaochun, Huang Yanhong into .Board of Directors. .</ P> <P> Chen regard to react quickly in the next day court documents submitted to the High Court, formally charged Huang Guangyu, recovery of February in January 2008 before and after the breach. .This also means represented by Chen Gome Huang Guangyu, the Board and major shareholders of formal break. .</ P> <P> agencies battle: The two sides tried to seek institutional support </ P> <P> for Huang put forward the request to convene the EGM, the United States determined by the Board September 28 vote. .Around the "9.28" of war, both Huang Chen, a series of pre-war preparations. .In addition to accuse each other through the media war of words, holders of U.S. equities for institutional support to become the focus of both preparations. .</ P> <P> Chen aspects of access to institutional support for the confident and told the media that get all the agencies. .The family is Huang Guangyu Zou Xiaochun sent representatives to Hong Kong for the canvassing. .The eve of the general meeting of shareholders, Wong had also accused of "buying." .Some media reported that Huang's sister, Eagle Investment Chairman Huang Xiuhong, a Chinese businesswoman has been authorized to be responsible for communicating with institutional investors, if the other party to help Wong, a 10% to 15% of vote, will pay $ 26,000,000 .compensation, but later because of problems not fully implement the agreement. .</ P> <P> general meeting of shareholders to vote from the situation, Chen received more institutional support. ."9.28" 80% of shareholders to vote more than Huang Guangyu, in addition to their major shareholders 35.7% of the vote, but received only 6% of the other votes. .</ P> <P> equity holdings of War: Direct holdings of Bain Huang debt stock </ P> <P> Chen Huang for other shareholders to support the two sides at the same time, also tried to seek to increase the proportion of one's own options, and then get .In the general meeting of shareholders a greater say on. .Huang's approach is through the secondary market holdings of nearly 2% (2% for the overweight limit.) .According to the news later disclosed, Huang Guangyu Chen to overweight equities and preparedness aspects of sudden issuance, 40% of the hands of the share pledge 5.0 billion in financing for financial companies. .</ P> <P> and Chen and Bain Capital's strategy is, in the general meeting of shareholders on the eve of the debt-equity swap by the Bane. .Debt-equity swap, the Bain 9.98% stake, becoming the second largest shareholder of Gome Huang Guangyu were diluted to 32.47% shareholding. .Bain's genius is that reasonable use rule, the time in the choice of debt-equity swap that debt-to ensure completion before the Meeting, to obtain the corresponding voting rights, but not to stay in the shareholders Huang .holdings of the opportunity before the General Assembly: September 15, Bain announced debt-equity swap, according to the relevant provisions of the Stock Exchange of Hong Kong, Huang side can then holdings of 2%, but because of the Stock Exchange "T +5" .requirements, Bain's debt-to Sept. 22 to be completed only in the Bain Huang debt-finished, to get another 2% chance of holdings, but because of HKEx T +2 .delivery requirements, Huang holdings even in 22, 24, have to wait until delivery, has missed the Sept. 22 registration deadline for the equity. .This means that, in the Bain debt-equity dilution Huang Huang also can not make the holdings of shareholders to vote to increase the weight. .</ P> <P> in this round of the duel, Huang Bain deal through debt-holdings after the shares are diluted, however, Bain at the time point conversion to win a chip, resulting in regard Huang .again before the Meeting can not be overweight, and from the final vote results, Huang was not the four motion passed away just under 3%. .From the poll results, Bain's moves, shielding the Huang possible chance to win. .</ P> <P> shareholders: Chen Huang ensure that major shareholders retain the status of </ P> <P> experienced a general meeting of shareholders in the institution before the battle, equity holdings of the war, "9.28" shareholders .schedule. .As a result, Chen remain, but the board's additional authorization is canceled. .This means that Huang's shares no longer have diluted the risk, to ensure that the status of large shareholders, but the revocation of Chen, Sun Yi-Ding Huang on behalf of the duties and let Zou Xiaochun, Huang Yanhong to the board's motion were negatived. .</ P> <P> for this result, Chen parties that win, and Huang Fang said at least did not fail, because the position to ensure that the major shareholders. .However, Huang did not realize the demands expulsion of Chen, it also means that the war is not over. .The end of the evening general meeting of shareholders, said Huang side, the United States in November, "separation", which stores an independent non-listed business, which also foreshadowed the negotiation after. .</ P> <P> after "9.28" Age: Huang put pressure on non-market stores Chen </ P> <P> shortly after the shareholders meeting, representatives of Bain Capital talks with the Huang family, to avoid .States United States apart. .Chen has also requested a change to recover non-listed stores Huang said, hoping to negotiate. .The Huang family were on non-market outlets as a bargaining chip, a package plan to continue emperor to abdicate Chen, trying to achieve in the "9.28" is not implemented on a general meeting the demands. .The specific content of the negotiations include the non-listed stores into the listed company, but asked the outgoing Chen, increasing the board of one's own representatives. .</ P> <P> However, the United States the support of the Board Chen aspects remain resolute attitude. .Was caught in a difficult negotiation. .November 1, after splitting the two sides agreed CHAN window at dawn, the two sides fail to reach agreement, but negotiations have not broken the parties involved in the negotiations are continuing game. .</ P> <P> reconciliation: two representatives to the Board of Huang both temporary compromise </ P> <P> 11 月 10 evening, in Huang, Chen formally break the threshold of 100 days on the eve of the two sides finally reached .reconciliation. .Zou Xiaochun, Huang Yanhong Board of Directors will enter the country the United States, Huang side position that no non-listed stores the necessary separation. .</ P> <P> However, the way of reconciliation between the two sides of view, the purpose of Huang's not fully achieved, "9.28", the Huang area stores trying to inject non-listed public company in exchange for Chen .Xiao outgoing and party representatives have been added. .However, Chen was stayed, and by spokesmen for the Board to increase the way Huang, stabilize the Huang family, successfully avoided the United States "separation." .From this perspective, Huang Guangyu Chen to put pressure on non-listed stores, did not achieve the best results. .And Huang is also intriguing aspects of the latest position, although it is no need to split the non-market stores, but stores non-listed personal assets as Wong Kwong Yu, retain the right to split, but as a major shareholder, has once again convene the shareholders .the right of the General Assembly. .</ P> <P> strong character, and Chen Huang has experienced nearly a day-long fight for control of the war, finally Xibing, but this temporary compromise will hold out? .Chen Xiao as a professional manager to leave the country after all the United States, he will choose to leave in what way? .Chen had been supporting the States United States the second largest shareholder of Bain Capital as a place to turn? .All this is still full of suspense. .</ P>.