The penniless son of the penniless ...

Chapter 112 The unsolvable conspiracy

After hearing Wu Mingxi's "conspiracy", Zhang Junfeng, who was a little worried, smiled for the first time in a long time. The current situation is just as Wu Mingxi said! If the management rights of Amore Cosmetics Company fall into the hands of Zhang Junfeng, the interests of other shareholders may not be damaged, but if Xu Qingpei gets the aid for turnover, then all of them will be cheated by the other party, causing considerable losses.

These shareholders (institutions) are all smart people. It shouldn’t be too difficult to decide whether to stick with the Xu family based on their long-term friendship and damage their own interests, or to choose him as a new shareholder and protect their own interests? !
After making up his mind, Zhang Junfeng asked Wu Mingxi to contact Amore Cosmetics Company as soon as possible to convene an extraordinary shareholders' meeting and hold a vote on additional investment. At the same time, he disclosed the content of the vote to those shareholders (institutions) in advance. He was very curious whether these guys would still support Xu Qingpei as before after the news came out.

……

At the headquarters of Emily Group, in the president’s office.

When Xu Qingpei learned that the cosmetics subsidiary had received news that Comet Capital, one of the major shareholders, had requested to hold an extraordinary shareholders' meeting in the near future to vote on a resolution to make additional investments in the company, he could no longer sit still.

Comet Capital clearly wants to increase its holdings in the company by making additional investments in its subsidiary. If they succeed, the other party will inevitably initiate a battle for the management rights of the cosmetics company!

Although the group has sold off the assets and businesses of its two subsidiaries at a low price and recovered some funds, the funds it can mobilize are less than 1600 billion won (approximately 0.8 million US dollars). It is obviously a pipe dream to use this amount of funds to resist the offensive of Comet Capital!

Originally, he was hoping to hold on for a while longer, trying to wait until the aid from the Blue House arrived, so that he could apply for the aid from there as soon as possible. In this way, both the entire group and the cosmetics subsidiary would be able to survive the crisis safely.

Those neutral cooperative enterprises and shareholders of the cosmetics company will not support Comet Capital, the "airborne" new shareholder, to lead the company astray. In this way, the evil ambitions of Comet Capital will be completely thwarted, and they will be able to successfully maintain the company's management rights!

But they never expected that Comet Capital would take the initiative and even resorted to the "sweeping operation" of additional investment. Not to mention their Amorepacific Group, how many of the shareholders could afford to pay? !
Compared with the extremely stringent conditions for applying for aid, there is no guarantee that those shareholders will turn against each other and support Comet Capital at the last minute!

……

Unable to think of any solution, Xu Qingpei could only smash the things on the table to the ground frantically, trying to vent his anger. The staff outside who heard the noise were also silent, fearing that they would become the first to stand out and become the "victim" of the president's venting of anger.

……

After a long time, Xu Qingpei, who had been venting for a long time and felt a little tired, gradually calmed down. He was completely unable to deal with the current bad situation. Although the shareholders seemed to support the Xu family to continue to run the Amore Group, how could they willingly support others without sufficient interests? Now this hateful Comet Capital is using common interests to force these guys to turn their guns and support them to take the position. After all, between the choice of international aid with harsh conditions and additional investment by major shareholders, it is obvious that the latter is less costly and will not affect their interests!

However, Xu Qingpei, unwilling to give up, decided to "struggle" again. He called his father, trying to get the former chairman of the group to come forward and negotiate with those shareholders to see if he could get them to support their Xu family again because of their many years of friendship!
……

Three days later, in the office building where Emily Cosmetics Company is located.

The company's shareholders were invited to gather together, and they will vote on the resolution to make additional investment in the company at this extraordinary shareholders' meeting. Representatives of many institutions who received the news in advance were very enthusiastic about Comet Capital headed by Zhang Junfeng.

In their view, Comet Capital's additional investment will enable the cosmetics company to have more funds to continue product research and development, overseas market development and advertising, which is a perfect benefit to them!

Of course, if the Xu family could be as generous as Comet Capital and come up with a large sum of money for additional investment, they would naturally be very happy to see it. However, under this situation, I am afraid that the entire Emily Group will not be able to come up with much funds, right?

Xu Qingpei, who was sitting next to him, looked very unhappy when he saw the representatives of the major shareholders who had completely different attitudes from before. He didn't expect these guys to change their attitudes so quickly. When Emily Cosmetics Company was constantly expanding its overseas market and its sales and profits were rising year by year, these guys were all fawning over him and his father. Now he thought that they were really too realistic!
……

Under the chairmanship of Xu Xingmin, president of Amore Cosmetics, the interim shareholders' meeting initiated by Comet Capital was officially held. After Xu Xingmin announced the content that needed to be voted on at the meeting, he asked his subordinates to hand over the voting sheets to the hands of the shareholder representatives.

After a while, the staff finished counting the votes in public, and shareholders holding more than 68.7% of the shares expressed their agreement with the proposal. Zhang Junfeng from Comet Capital even stated on the spot that an additional US$2.5 million investment would be made to develop and expand Emily Cosmetics Company!

The shareholders and executives of Emily Cosmetics Company present at the scene were all exclaiming in amazement. They had not expected that the young-looking big boss behind Comet Capital would be so generous. It was not unfair for Xu Qingpei, the new chairman of Emily Group, to lose!

This scene made Xu Qingpei gnashed his teeth with hatred. Zhang Junfeng, this bastard with wolfish ambitions, actually relied on his strong financial resources to quickly increase his own shares in a short period of time by spending money like this. However, the money he could take out was only less than 100 million US dollars, and he was completely powerless to save the situation!

As if seeing Xu Qingpei's gloomy face, Zhang Junfeng even asked for his opinion, "Chairman Xu Qingpei, do you want to make additional investments? If the Amorepacific Group can also make additional large investments like I did, I believe that the cosmetics company will be able to take advantage of this opportunity to significantly improve its overseas sales and profits!"

(End of this chapter)