GOME and Huang guangyu agreement brokerage sing well increase target price

<P> Financial Hong Kong stocks Nov. 12 hearing, according to Hong Kong media reported, in the next week on the eve of Q3 results, Gome (prices, information, reviews) (0493) Large shareholders and management disputes Huang dramatic progress ., the United States entered into a memorandum of understanding with Huang Guangyu announced the appointment of Huang nominated representatives, including the sister of Huang Yanhong Zou Xiaochun and yellow to the Board, and Mr Huang will not spin-off non-listed sector operations. .</ P> <P> 2 into the Yellow River Conservancy Board is not allowed to split the business </ P> <P> by the news, several brokerage issued a report "good image" States United States, the United States rose to an annual high share price yesterday, the highest See .3.38 yuan, or 18.7% to close at 3.24 yuan, 2.59 billion yuan into the negotiations. .</ P> <P> country the United States will be announced before next Tuesday held a special shareholders meeting to pass the motion, including the appointment and Huang Yanhong Zou Xiaochun to the Board and Board of Directors, will be increased from 11 to 13 people. .States United States spokesman said the two sides reached a consensus to ensure the stable development of country the United States business, and welcomed the intention to spin-off non-listed part of the Huang business decision. .</ P> <P> Huang is a statement of the country the United States agreed to convene a special general meeting of shareholders happy. .He said that if the number of directors to increase, companies and board of directors and the consensus can be more constructive way to discuss the company's future strategy. .</ P> <P> Chen fate no consensus </ P> <P> Although the two sides signed a memorandum of understanding, reconciliation and take the first step, but the public has insisted Mr Huang Chen came to leave the United States, and this .The motion did not mention the fate of Chen problems. .Shareholder spokesman Jiapeng Yun said the signing of the memorandum and the National US-only reconciliation process, not results, suggesting that the two sides have not resolved all conflicts. .For Chen's fate, he did not directly answer, saying only that after the passage of such special general meeting of shareholders, for further discussion. .</ P> <P> In addition, a number of brokerages including Merrill Lynch, Deutsche Bank and BOC International are building that the two sides signed a memorandum of understanding an important step towards a peaceful settlement. .Merrill Lynch, which said that although seen as a "permanent" solution might still premature, but based on stock price has lagged behind due to the dispute, this positive development will be reassessed States United States, so 27% of target price raised to 3.3 yuan, rating ."buy." .Gome (market, information, reviews) and the largest shareholder of the struggle between the transforms be called exciting. .Major shareholders in just a tough one, said, "Chen must leave" after a week, a turning point in bilateral relations again. .</ P> <P> 10 11-point night, Gome (00493.HK) announced that the two sides have reached a memorandum of understanding, the United States Board of Directors agreed to major shareholders and Huang Yanhong Zou Xiaochun nominated two representatives, the former executive director, .the latter as a non-executive directors, board members from 11 extended to 13 people. .</ P> <P> this country the United States lift the spin-off alarm. .Announcements, expressed intention to terminate the major shareholder and non-listed Gome entered into between the parts of any existing agreements within the Group and to continue to comply with terms of the agreement. .</ P> <P> affected, the country has low levels of the U.S. stock rose 18.681 percent, to close at 3.24 Hong Kong dollars. .</ P> <P> compromise Bain as winner Wong Chan </ P> <P> result of this compromise does not exceed the deduction before the outcome of the public, but the compromise of speed and surprising ways. .Just one week ago, major shareholders has also said that Gome more than a year to operate below expectations, Chen must take responsibility, go, and stressed that it will "at any cost" to meet objectives. .</ P> <P> before the Sept. 28 special shareholders meeting, the five largest shareholders is only one supported the motion that the Board rejected the potential additional rights. .</ P> <P> the two sides began after the so-called "package" program to negotiate has been no real progress. .Leaked several times during the major shareholder, said the demands will not change, and stressed that negotiations if no progress within a reasonable time, will consider terminating the non-listed business trust, and once again proposed the convening of the EGM. .States United States a new round of civil war seems imminent. .</ P> <P> dramatic end last night, looks like a major shareholder of further compromise, or even a comprehensive defeat. .Announcement the day before, Chen did not mention any shareholder fate of the information, and Huang Yanhong Zou Xiaochun though were allowed to enter the board, but this situation is that Chen's original proposal would have, they agreed on the basis of the existing board of directors to increase the large .terms of two representatives to the shareholders, rather than replace him with a D Sun. .This result, together with major shareholders and non-listed Gome's intention to terminate among stores within the Group entered into agreements of any existing position, it is clear the party is expected to fully comply with Chen. .</ P> <P> both very mild statement. .Under the MOU, they pledged to cooperate in all aspects of the implementation of actions and measures to build a stronger and more profitable company. .</ P> <P> "We think this is a constructive result, it can solve a system problem, that is, even if controversial, even after the mutual study, and will not hurt the interests of shareholders and all parties." Gome .A spokesman for Zhao Tong on the "First Financial Daily" said. .The major shareholders the spokesman, then again to "the overall situation of the country the United States" and "shareholder" response to journalists. .</ P> <P> but the real winner should be the second largest shareholder of Bain Capital. .It is considered equity in the balance weight on the chips, but also compromise the promoter. .In fact, the "9.28" shareholders meeting that night, Bain managing director Jonathan Zhu secret talks about the bird will fly back to Beijing, and then had to pull strings for large shareholders to create conditions for talks with Chen party. .</ P> <P> Jonathan Zhu efforts really did not in vain, to reach a compromise situation, Bain carrying wealth will quickly soar. .Not long ago, after conversion, the shareholding of approximately 1,630,700,000 shares of Gome shares yesterday rose to 3.24 from 3.05 HK dollar, equal to that its 3.1 billion dollar profit day. .If the initial conversion price 1.108 Hong Kong dollars, the United States such a volatile situation, it is still Kuangzhuan about 3.477 billion Hong Kong dollars. .</ P> <P> compromise under have a clue? .</ P> <P> major shareholders last night also said that if the founding shareholders of appropriate representation in the board of directors will terminate no intention of Gome Group is now listed and unlisted any internal agreement between the parts, and will continue to comply with those .Terms and Conditions. .Situation reached, Huang side seems calm. .</ P> <P> but the announcement still filled with a trace of revealing the Compromise of uncertainty. .Which referred to: United States and large shareholders are entitled to terminate the memorandum, but need to (including) 30 days prior written notice to the other. .</ P> <P> notice under the States United States to increase the Board staff to be approved at the EGM, but when the General Assembly did not convene an extraordinary announcement, the United States, said only the latest will be November 16 before the announcement. .</ P> <P> other key issues, namely, non-listed some stores there is still no confirmation. .This has been the major shareholder can expect some assets into the listed companies, thereby enhancing the stake. .Before the outgoing message is, the United States will not allow the transaction terms, adhere to cash. .However, one major shareholders are worried that a lack of cash on hand will take the opportunity to issuance of the kingdom of the United States, thus weakening their interests. .</ P> <P>, however, been concerned about the incident last night, Luo Qingqi appliance industry expert said that although there are still some uncertainties, but they are only to rational debate in the process of "spray", the two sides have been difficult to reverse .consensus, before the appeal if continued intransigence, both sides can not reach expectations, and with two representatives of major shareholders to the board, the dispute will be able to rational discussion. .</ P> <P> "But, after all, they gave each other the previous remarks caused some damage, that is tearing the face, take some time to rebuild trust." He said. .</ P> <P> "Huang Guangyu, the truth," the author of Yin Feng financial writer that, in theory, the major shareholder of two cards, "the proposed shareholders meeting" and the "lifting of non-listed business trust" is still in the hands remain ., but look at the MOU, both parties did not attach any conditions of the country from the United States is expected to calm the conflict. .</ P> <P> "This is a good start." Huang's spokesman, said Huang settlement memorandum signed with the board is a good start, but do not deny that the United States to continue to fight for control of the country. .</ P> <P> 11 月 10 evening, Gome (prices, information, reviews) sudden announcement that day, and Gome Huang Guangyu, the signature of the memorandum of understanding. .Under the MOU, the United States agreed to convene a special general meeting to seek shareholder support for the number of directors to the board of directors to 13 by 11, and the appointment of two nominated by the Zou Xiaochun Huang as an Executive Director, Huang Yanhong non-executive directors. .</ P> <P> this point, continuing the Hundred Days, "Chen Huang dispute" dynamic equilibrium stage. .However, Guang-Yuan Mar scholars believe that this is not the end result, "Mr Huang will continue to fight for control of the future." .</ P> <P> continue to fight for control? .</ P> <P> in terms of Gome Huang Guangyu, the Board and the public responses to reporters, both said, by expanding the board of directors and major shareholders to give directors the right representation can make the company's future development strategy to fully constructive at the board level .to discuss and agree on decision-making. .</ P> <P> benefit from Huang and Chen signed a memorandum Gome shares opened higher at 11, 12.56%, to 3.05 Hong Kong dollars, a record high since the beginning, Zhong Pan to close at 3.12 Hong Kong dollars, up 18.68%. .Meanwhile, Merrill Lynch issued a research report, raising target price from 2.6 yuan Gome to 3.3 million. .</ P> <P> Merrill Lynch analysis, which is the former Chairman of the Group management and an important step in reconciliation Wong, will show major shareholders of listed companies intend to continue to support the United States, but the agency also believes that the two sides still have a long future .way to go. .</ P> <P> "In fact, the United States control of the battle is far from over." Guang-Yuan Mar pointed out that Huang has been asked the United States control over the country, according to Huang memo did not reach this result, however, not allow Chen .Xiao leave the case of the Board of Directors, first reached a tentative settlement intention, after the battle for control of the foundation. .</ P> <P> present, the national board of directors of 11 United States, and if Huang Yanhong Zou Xiaochun and smooth to the Board, the Board increased to 13 seats. .By then, the board seats are still three representatives of Bain Capital, and Huang's behalf with Dalloway also to 3. .Before Zou Xiaochun said that according to the existing stake Bain Capital, the board and major shareholders have the same seats inappropriate. .</ P> <P> the United States, according to insiders close to the country, Zou Xiaochun and Huang Yanhong to the board, there will be actual management. ."But only 30% of shareholder equity wanted to control the board of directors is not possible." The source pointed out that this area is to give Wong Kwong Yu Chen had always insisted the departure of the final memorandum of understanding has to change their minds one of the reasons. .</ P> <P> Unlisted store or maintain the status quo </ P> <P> Huang has been a non-listed stores strive to uphold our bottom line, after Huang side said that Huang's proposal if adopted, .then consider the injection of non-listed stores. .</ P> <P> this in the memo, Huang side said that the founding shareholders if the appropriate representation on the board, the founding shareholders have no intention to terminate Gome Group is now listed and unlisted any internal agreement between the parts, .and will continue to abide by these terms. .Did not mention whether the injection of non-listed stores. .</ P> <P> Gome Huang Guangyu, the Board of Directors separate aspects of termination of non-listed stores welcome, but the United States, according to insiders, Huang aspects of non-listed from the stores hit the bottom line is that the threat to public companies and investors .and that even if reconciliation can not be injected into listed companies. .</ P> <P> "If the stores can be easily injected into non-listed company, Mr Huang has long been injected." The source pointed out that the stores are non-listed domestic assets, listed companies are overseas assets, if the non-listed companies .into the listed company is actually a transfer of domestic assets, which requires regulatory approval. .The source also pointed out that even if regulators allow, also need to hold a shareholder meeting, investors also need to store the price of non-listed for discussion. .</ P> <P> appliance industry observers Liu Buchen, that does not peel as long as the non-listed stores, to benefit both sides, is currently the best outcome. .</ P> <P> Chen will leave </ P> <P> Chen had said publicly that, if not control over the dispute because he had left the country the United States. .United States control of the current dispute has ended, the market rumors Chen will leave the country after a period of time the United States. .In the week before, the wife of Huang Guangyu, the cuckoo has also been stressed that Chen must leave the board. .</ P> <P> Chen is leaving for, and leave issues such as whether there is a timetable, the United States press spokesman told the China Securities News, which is a personal decision Chen, inconvenient to defer to the only sure .Chen will serve as chairman. .Chen then press call, no one answered the telephone has been in the state. .</ P> <P> However, foreign trade and economic adviser Li EMBA from the University believes that the country battle for control of the United States is only Chen will leave the country just lengthened the time the United States, in fact, Chen finally go. .Chen Bain end up giving up. .</ P> <P> is worth noting that Li from that, the two sides in 15 Gome reported third-quarter financial statements prior to release information otherwise CHAN profound meaning of reconciliation. .The general view, though not yet announced the third quarterly Gome, Suning, but competition for control in the time Huang quickly shop, shop the new single-season record high, a lot of pressure to the Gome. .</ P>.