Financial news
Written by: Xu Shihao
2020-01-22 15:34
Last updated: 2020-01-22 15:35TV Broadcast (0511, TVB) announced that Chen Guoqiang, known as the "Shell King," resigned as chairman of the company's board of directors and non-executive director, and will take effect on the 4th of next month. After reviewing the information, the consortium led by "Cover King" Chen Guoqiang successfully became TVB's main shareholder in 2011, holding 26% of the shares and becoming the company's largest single shareholder. The market is concerned about who will take over the shares and who will be the chairman of the board.
Spokesperson: the economic interests held by each shareholder remain unchanged
Judging from the current board members, the market's most vocal is Li Ruigang's "confidant" and TVB executive director Xu Tao. According to reports, he has become a permanent resident of Hong Kong; the company's annual report states that Xu Tao personally held 0.46% of equity last year. Received 3.1 million directors' remuneration.
A TV broadcast spokesman said Chen Guoqiang would sell all of Young Lion's shares to new buyers. After the completion of the transaction, the economic interests held by each shareholder remain unchanged, and no information is currently authorized to disclose the information of the new buyer. In addition, the transaction must be approved by the Communications Authority and an announcement will be made at the appropriate time on the succession of the chairman.
According to the current "Broadcasting Ordinance", the control rights of free TV stations must be planted in the ground and held by residents who usually reside in Hong Kong. Therefore, licensees are restricted by "restricted voting controllers", and more than half of the board of directors must be continuously A person who has lived in Hong Kong for 7 years will not be granted a license.
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