The penniless son of the penniless ...

Chapter 252: Jason Wilson: You must have done this on purpose!

According to the calculations of the staff in charge of statistical data on site, the shareholding ratio supporting the removal of Song Min-yeon and her continued service as president was only slightly over 30%, far from the 50% or more he expected. The reason for this was definitely that the bastard Liang Guangyu had deceived him and did not send anyone to attend the vote!

This situation made Jason Wilson quite dissatisfied. If he did not speak up to object, their acquisition would have been declared bankrupt this time!
Johnson Wilson loudly retorted, "Wait! I have objections to this vote! Liang Guangyu, the vice president of the department store and one of the major shareholders, did not attend this meeting. The vote should be invalid!"

Seeing the people from ABC suddenly attack, Song Minyan, the president, remained calm. Before he could speak, Jin Youdao, who also attended the meeting, slowly stood up and said, "Two days ago, Liang Guangyu transferred all his company shares to our Black Panther Logistics Company. This is the share transfer contract!"

"We have seen President Song's performance and ability over the past few months. It is precisely because of her presence that Sanshang Department Store has been able to turn losses into profits step by step from the brink of bankruptcy. As for the capabilities of your ABC company, we at Black Panther Logistics are not sure and are not optimistic~!"

Hearing what Jin Youdao said, many shareholders and company executives present nodded in agreement. If Song Minyan, the daughter of the former president, had not taken up the responsibility, there would probably be no Samsang Department Store now, right?

As for the fact that Vice President Liang Guangyu chose to transfer his shares during this period, although it was not very kind, it was ultimately his personal choice and it was no big deal.

But when Johnson Wilson heard the translator beside him translate all of Jin Youdao's words, he was furious. This Liang Guangyu is simply a bastard! He clearly tricked them!
They spent a lot of cash to buy a lot of shares from the stock market and paid a lot of benefits to successfully convince other shareholders. Now they have spent a lot of money, but they have not been able to get the operating rights of Sanshang Department Store.

Once this matter gets to the top management of the headquarters, he, as the representative, will be in big trouble!

And judging from the other party's attitude, it is very likely that they set up a trap to frame him. Otherwise, why didn't the bastard Liang Guangyu announce the purchase of stocks immediately? And the guy who took over the shares happened to support the female president? If there was no PY transaction or something, he would never believe it!

"... President Song Minyan, it is obviously problematic that a major shareholder like Liang Guangyu did not immediately announce his shareholding changes. We request..."

Before Johnson Wilson could finish his words, Jin Youdao slapped the table with his hand and said with a gloomy look, "If you have any objections to Liang Guangyu's private transfer of shares, you can sue him! It is our Black Panther Logistics Company that holds the shares of Sanshang Department Store. If you are dissatisfied, just hold it in!"

Looking at Jin Youdao's extremely fierce declaration, even Johnson Wilson, an arrogant man who has always looked down on Korean enterprises, was intimidated by the other party's momentum. For a moment, he did not dare to take the opportunity to cause trouble, for fear that this "reckless" shareholder would do something excessive.

…But when the first vote to dismiss the president failed, Song Minyan took the opportunity to propose a second vote. In order to meet the department store's expansion needs in overseas markets (mainly in China), the company's shareholders need to increase capital. The current tentative total amount of capital increase is 300 million US dollars, and everyone needs to increase capital according to their respective shareholding ratios.

As soon as the news came out, all the shareholders and company executives present were shocked. The first thing they did was to increase the capital by 3 million US dollars! Once it really succeeds, the capital flow of San Shang Department Store will be quite abundant. Considering the "results" they had achieved in Longguo before, the market value of San Shang Department Store will skyrocket in a very short time!
"…Marefaq! These guys must have done it on purpose!", Jason Wilson complained crazily in his heart. If this vote is passed, ABC will probably fall into a big trap! They bought the shares of the department store at a high price but failed to obtain the management rights. They have to continue to invest money in it to maintain their shareholding ratio. Isn't this just a complete scapegoat? !

The vote just now has fully demonstrated that Song Minyan obviously holds more than half of the company's shares firmly, and the right to speak has always been in his hands. Even if they are dissatisfied, it will be of no avail!
Of course, other shareholders present also expressed their own difficulties. After all, they had just experienced the financial crisis, so how much spare money could they have in their pockets for investment?

Song Minyan did not make things difficult for those shareholders who voluntarily gave up their corresponding capital increase quotas. She even generously stated that their vacant capital increase quotas would be paid on their behalf by other shareholders, but the shareholding ratios of the company's shareholders would be readjusted subsequently.

When they heard that someone was willing to pay for them, but their own shareholding ratio would be reduced, these shareholders not only did not show any worry, but were even a little happy. They also saw the changes in Sanshang Department Store during this period of time.

Especially Comet Capital and its subsidiary KB Bank, they are all familiar with the previous commotion! Being able to board such an "aircraft carrier" is a pure way to make money without doing anything!

As for Jason Wilson and the others, their faces were extremely dark. Song Minyan's blatant "conspiracy" had put them in a dilemma!
If they agree to make additional investments to maintain their current shareholding ratio, their investment will inevitably increase. This is definitely not good news for ABC Company, which is already "deep in the quagmire". Even the executives at the headquarters will be more annoyed by his money-losing behavior and will punish him.

But if they don't make additional investments, their current shareholding ratio will inevitably shrink, and the money they invested previously will almost be wasted!

……

After the meeting, many shareholders of the company did not leave, but surrounded Song Minyan and others and kept complimenting them. Many people just wanted to get on good terms with her, so that they could get in touch with Comet Capital and KB Bank through her. After all, financial institutions holding billions of dollars were too much for them to be envious of~!

(End of this chapter)