Chen denies that the two sides agreed on and about the yellow call not split

For the United States, non-listed new stores, GOME Chairman Chen tell NetEase finance: "for the outside world are talking about the two parties have reached a preliminary and on the programme, I know. This is not what I say. ”

GOME Chairman Chen yesterday afternoon when a business present on NetEase Finance Assembly.

Distance 1, November, non-listed shop is split there are 10 days time, Chen tell NetEase finance: "the problem as a result, there is no published timetable.

However, the nomination of Executive Directors to capture family candidates Zou xiaochun yesterday afternoon on the media indicated that non-listed shop does not split GOME listed companies.

He also said that now is working with Bain, Chen aspects "package" of negotiations, including the United States, the United States Board of Directors structure future development strategy, how to manage non-listed locations.

A bit closer to the event who tell NetEase finance, Chen, Huang guangyu family, Bain Capital and the third party interests are different, all have in common are conflict, leading to the negotiation process is very slow.

Non-listed store or not to split

Yesterday afternoon for a business conference, for non-listed shop, GOME, Vice President, Executive Director of the official to Ding tell NetEase finance: "compared to previously, now there is no change.

"After that, he would not disclose any problems.

August 30, GOME bulletin, August 27, Huang guangyu family received a letter.

The letter indicated that if Huang guangyu family 4 August raised five motion on September 28, the extraordinary general meeting held on all has not been passed, will terminate listed companies and non-listed part of the management agreement between the termination of the hosting relationship. On that day, GOME Board to capture family sent a letter that "accept your opinion and at the same time notify your company, our company decided to 2010-10/31/unconditionally terminates execution of the relevant agreement, the company in 2010 from 1 November to manage non-listed companies. ”

GOME Chen and official position of Ding, so that non-listed store how to dispose of mystery.

However, Zou xiaochun yesterday afternoon's external representation, August 27, 2008-United States agreement on conditional termination "non-listed managed Protocol" notice in writing, does not apply to September 28, the special general meeting of shareholders did not pass some motion.

This notification is objective and existent, but at the same time it is accompanying conditions, its effect on the assumption that the largest shareholder of five motion are not adopted, but part of the move, this notice is attached conditions.

Zou xiaochun's stance that Huang guangyu family unwilling to non-listed store Division.

It is understood that the 370 non-market stores located in Shanghai, Jiangsu and 2009, operating income, to listed companies 96.17 2.2 billion escrow fee.

GOME a spokesman told the NetEase finance: "we did not receive shareholder Huang guangyu family on non-listed stores continue to let the GOME managed declaration.

Only his unilateral said that has not received a formal declaration. This we do not make decisions better. "At the same time, he expressed the hope that the country's development strategy in line with the interests of all shareholders, the management of the United States.

A bit closer to the event sources, Bain Capital and Chen's interests or certain differences, "Bain Capital does not want the United States, and is willing to increase separation Board candidates, and Huang guangyu family interests have consistency.

”

Reached and it is still early to talk about the programme

GOME Chairman Chen at noon yesterday, said that for the outside world, has reached a preliminary and on the programme, and knowledge.

Then he said, "no published timetable. ”

It is understood that the United States, Huang guangyu family, Bain Capital and the third party to present and discuss scenarios, all have different interests.

For example, non-listed shop if not split, it would not be injected into the listed companies. If injection of listed companies, in what form into public companies. "Non-listed stores the current value of 100 billion funding probably, if the form of a convertible into shares, Huang guangyu family will reach 50%, this is Chen and Bain unacceptable; if all of the cash injection, affect the GOME cash flow while diluted Bain Capital shares; if in cash and shares in two forms, the cash and shares, respectively, are what proportion, that is the focus of the negotiations. "One insider said.

Now the contents of the tripartite negotiations can be summed up as the Board of Directors of three aspects: the United States, that is, the structure of the Board of Directors is to increase the quota, Huang guangyu family representatives can into the Board of Directors; GOME future development strategy, that is, the future is to increase earnings per primary or to increase the market share of the rapidly expanding; there are mainly non-listed stores are split, listed companies, if not split, is injected into the development of listed companies.

"So, now the third-party negotiations are slow, or just have a continuous adjustment and introduction programmes, to agree on the exact duration.

"One insider said.

Candidates for the Board is increased, Bain Capital Jonathan recent media interviews, as Gome's second-largest shareholder, Bain Capital "can consider increasing the GOME Board seats," and hope to resolve the non-market stores, board seat places such as the "package".

It is understood that Huang guangyu family hope in GOME increased 2-3 members of the Board seats.

Nominations of Zou xiaochun, huangyan Rainbow two candidates remain unchanged. Zou xiaochun while denying Zhang Ming "mountain".

However, increased GOME for members of the Board of Directors, whether the adjustment of the existing framework of the Board of Directors, and no external position.