novellhall Chapter 82 Hyenas Divide the Scepter
Chapter 82 Hyenas Divide the Scepter
The first shareholders' meeting of the Koo News Agency was held!
Major shareholder Chen Guanjiang chaired the meeting, while Golden Harvest sent only He Guanchang as its representative, and Warner also symbolically sent a representative.
In accordance with the requirements of Hong Kong's "Companies Ordinance":
Listed companies must establish at least two board seats, and the shareholders' meeting must resolve to establish a board of directors consisting of four directors.
Major shareholder Chen Guanjiang appointed as company director;
Li Guoneng can serve as an independent non-executive director;
Editor-in-Chief Tang Yufei promoted to Executive Director;
Zhou Zhanqiao was appointed as an executive director;
The board of directors unanimously approved the resolution to appoint Chen Guanjiang as chairman, which was met with thunderous applause.
Although everyone knew this would be the outcome, with Chen Guanjiang holding a 35% stake, there was no other possible result, but the legal procedures still had to be followed.
After all, although Infocomm News is a listed company, it must have been a public company before it went public, and all its decisions and resolutions must be explained to the public.
Inviting Li Guoneng to the board of directors was partly to balance the situation, as Zhou Zhanqiao had brought too many elite criminal investigation team members, and there were concerns that Tang Yufei, the executive director, would be sidelined.
In this situation, it would be better for Chen Guanjiang to step in and take sides, and for Li Guoneng to act as his proxy in the voting process.
The position of "independent non-executive director" is usually given to special partners such as accountants and legal advisors. They do not need to hold shares or have management rights, but only have voting rights on the board of directors.
Secondly, it would allow Li Guoneng to receive a legitimate "director's fee," thereby winning over the Li Peicai family behind her. Many listed companies in Hong Kong do this due to lax regulations.
After all, whether it's a private gift or a high salary offered by a private company, giving money to someone alone still carries the suspicion of bribery, while directors of listed companies can perfectly circumvent this risk.
Back when Zhou Xinian served as chairman of the Hong Kong General Chamber of Commerce, his power reached its peak. More than fifty companies invited him to join their boards of directors, which was a legitimate way to offer him a substantial salary.
The monthly salary for independent directors and independent non-executive directors is usually between HK$5000 and HK$20000. Taking the middle number, fifty companies would amount to more than HK$50.
Without having to do anything, or even attend meetings, Zhou Xinian can earn at least HK$50 every month, and it's all legal and legitimate.
This is the benefit of power: reaping wealth through high salaries, since the vast majority of shares in listed companies belong to shareholders.
However, the chairman of a listed company can use high salaries to win over allies by leveraging the public interest. This is one of the benefits of being listed.
As for the shareholders, who cares?
After the representatives from Golden Harvest and Warner left, the first board meeting was held. Since everyone was a close friend, there were no more reservations in their conversations.
Chen Guanjiang directly called out, "Jay Chou, it's all up to you tonight."
In contrast, Chen Guanjiang symbolically received a salary of HK$1 to avoid tax evasion due to high salaries and director's fees, while Li Guoneng only received a director's fee of HK$1.
Tang Yufei received HK$3 not only because he received a director's fee and a management salary as an executive director, but more importantly, he also needed to receive a corporate fee.
Before the Financial Law, Securities Law, and Company Regulations were perfected, the position of legal person director existed, but it was just not a good thing to say.
Zhou Zhanqiao received a HK$2 director's fee as soon as he joined, so he naturally had to demonstrate his value.
After all, times have changed.
When the company was weak, it refused to share the hardships. After becoming a listed company, it had no way out and could only enjoy the wealth. Zhou Zhanqiao had to rely on the Yangxun News Agency to fight for a piece of land to survive.
The remaining $36 in the account was used entirely to purchase equipment for Zhou Zhanqiao's troops. If he and his team could not demonstrate sufficient value, they would have no value.
"Leave it to me!"
Zhou Zhanqiao solemnly promised, "If I'm not the first reporter to arrive at the scene, it's my dereliction of duty. If other reporters are allowed into the filming location, it's still my dereliction of duty."
Having served as the head of the Criminal Investigation Department for many years, Chow Cham-kiu, as a chief superintendent of the same rank as Peter Kot, possessed an unimaginable network of connections within the police force.
Even though you've resigned, your network of contacts remains, which is especially useful for getting former colleagues to help with your job duties and for things where boundaries are blurred.
"good!"
Chen Guanjiang congratulated the company on its successful listing and welcomed Chairman Zhou and Chairman Li to the company. He wished Chairman Zhou's team great success and thanked all his former colleagues for their hard work over the past six months.
"Please ask Chairman Li to help make arrangements to charter a boat for the company's annual meeting. Chairman Zhou and Chairman Tang are responsible for inviting every colleague and their families to share the fruits of their labor."
"no problem!"
"Leave it to me."
“…………”
Tai Pak Floating Restaurant definitely cannot be chartered, but the Typhoon Shelter has more than ten floating restaurants, and it is not difficult to charter one if you pay a high price.
Upon receiving the news from the board of directors, all employees of the newspaper were greatly encouraged and impressed by the company's magnanimity.
The employees of YinXun Media already enjoy the highest salaries in the industry, and with the company going public and the year-end approaching, they must be receiving generous bonuses.
Evening at Tianshui Seafood Restaurant.
New and old employees clinked glasses and quickly integrated into the group under the influence of alcohol. However, Zhou Zhanqiao did not enjoy the drink and felt quite annoyed.
As the company's boss, Chen Guanjiang led the company from a small player to a thriving enterprise.
As a manager in the company, Tang Yufei was flattered by every employee;
Although Li Guoneng did not hold any shares or make any contributions, he was merely a legal advisor.
In contrast, he held a high position but had not made any contributions, yet he was enjoying the company's achievements. Although the senior employees were respectful, they were not genuinely respectful, which was completely different from his experience at the police station.
Zhou Zhanqiao knew that in order to earn respect, gain status and influence in the company, he needed to demonstrate his value.
Boom boom boom!
Zhou Zhanqiao put down his wine glass and tapped his index finger on the table.
The veteran employees ignored them, but the new employees all stopped what they were doing and turned around like owls. This phenomenon caused the veteran employees to turn around as well.
"Have you eaten yet?"
Zhou Zhanqiao glanced at his subordinates at the old police station and the new company, and said firmly, "It's night, time to get to work!"
"Yes, sir."
The more than thirty new employees spoke in unison, and their movements were equally swift and decisive. They stood up in unison and walked towards the door in a very orderly and rhythmic manner, without appearing flustered.
Seeing this, Tang Yufei finally understood why his boss had brought Li Guo along to help him vote at the board meeting.
Such elite troops are not only well-organized, but also have extensive connections and the backing of the Zhou Yongtai family. If they are not restrained, he will probably be sidelined in no time.
Cars drove out of the typhoon shelter and dispersed at the intersection, arriving at their parking spots precisely according to the designated areas. After checking and turning on the equipment in groups of three, they lay down in their cars to rest.
Hidden in the darkness of Hong Kong's night, only the flashing light of a walkie-talkie indicating it was receiving a signal...