Shareholders will stop Fibrlink listed shareholder disputes Prelude

EGM for Fibrlink listed on the road has come to an end, but this caused the shareholder dispute is far from over

Network version of the sub / Finance magazine reporter Lu Yanzheng

In February 8th, Beijing Fibrlink communications Limited by Share Ltd (hereinafter referred to as Fibrlink) two small shareholders -- Bernard Investment Limited (hereinafter referred to as Barnard) and Longdian Group Co. Ltd. (hereinafter referred to as Londian) to "finance and economics" said, will file a formal appeal to the Beijing district court, with the procedure on the grounds, asked to decide the resolution of the shareholders' meeting held on the same day invalid.

Comprehensive building Fibrlink provisional shareholders meeting on schedule in the major shareholder of the state Power Grid Corp located in Beijing Baiguang road held, suspend the listing of bill obtained by no suspense. The bill proposed by the national Power Grid Corp, national Power Grid Corp by Guodian Communication Center (hereinafter referred to as Dentsu Center) and other three state-owned corporate shareholders, actual Fibrlink holds 67.31% stake, to ensure the passage of the bill.

The temporary general meeting of shareholders for the Fibrlink listed on the road has come to an end, but this caused the shareholder dispute is far from over.

It is reported that the Dentsu center of state-owned shareholders propose to hold an extraordinary general meeting, with "two out" Fibrlink non state-owned shareholders, namely Bernard and londian.

In November 2005, the center to a party resolution. Its parent company National Power Grid Corp as the basis, the requirements of Fibrlink by industry, repaying the non state-owned shareholders, suspend Fibrlink listed (see "financial" print edition in 2006 second "Fibrlink listed" sudden death ").

In January 7, 2006, Fibrlink according to the "articles of association" in the "Chinese Securities News" on the notice convening the EGM notice, and the bill was sent to the shareholders. According to the "on" the bill to suspend the listing, but decided to further implement the State Council issued [2002] No. 5 "on the issuance of the notice" power system reform, straighten out the business development of the company and the power industry "etc..

However, in February 8th the extraordinary general meeting held on the eve of the shareholders also received a revised bill text, in addition to detailed legal provisions to convene a general meeting of shareholders on the outside, the new bill is no longer mentioned in Document No. 5, the reason for suspending the listing to view the company's business environment and business institutions will have to happen major changes, influence the operation and performance of the company, resulting in changes in the current market conditions".

Holds a 27.69% stake, Feihua the large shareholders "temporarily changed", does not comply with the "articles of association" 30 days prior notice required. Barnard company responsible person, according to the articles of association, the motion of the extraordinary general meeting of the board of directors shall be Fibrlink first met to consider, but Fibrlink did not perform this procedure. To this end, Bernard and another small shareholders Longdian company, has hired a lawyer to sue.

According to the center of Dentsu authorized agents, deputy director of the center Zheng Fusheng Dentsu at the EGM speech, Fibrlink by China Electric "recovery" is inevitable, but will also take Fibrlink currently engaged in PLC broadband business into a narrow band, for power meter reading. This is a far cry from the original listing plan.

It is reported that in the listing, Fibrlink and engaged in integrated database business of American OSI company has reached a cooperation agreement, including the agent of the company's software products. Fibrlink expect through this cooperation, including the data of power system real-time control and other business development, and even expected future development of China private standards in integrated data fields. OSI company also plans to absorb a large number of shares in Feihua Fibrlink listed, with the help of PLC commercial network Feihua real-time control, data of the development of telecom value-added service. With Fibrlink listed suspended, foreign abacus was also disrupted.