Liang Zhenying's letter to the director of One Media approves Zhang Huafeng for failing to fulfill its responsibilities: Small shareholders are now powerless

Political situation

Written by: Wu Zhuoan

2021-06-21 17:32

Last update date: 2021-06-21 18:55

According to the news, the board of directors of Next Media (282) met today (21st) to discuss whether "Apple Daily" will continue to operate or cease publication.

It is understood that the board of directors decided to set the dead line on Friday (25th). If the Security Bureau fails to unblock the frozen assets, the company will be short of funds to operate. It decided to close the business on that day, that is, the newspaper that "Apple Daily" published on Saturday On the last day, the Apple News Network ceased operations at 11:59 pm on Friday night.

Liang Zhenying, the vice chairman of the National Committee of the Chinese People's Political Consultative Conference and former chief executive who is a minority shareholder of Next Media, posted on social networking sites that all directors of Next Media have unshirkable legal responsibilities to all shareholders and the latest operating conditions of the company should be comprehensive, accurate and public To inform all shareholders.

He questioned that so far the directors have not fulfilled the above-mentioned legal responsibilities, so he entrusted a lawyer to send letters to all the directors of Next Media, stating that he reserves the right to pursue legal responsibilities.

Liang Zhenying approves directors for not fulfilling legal responsibilities

Liang Zhenying posted a post on Facebook saying that "Apple Daily" is the main business of "Next Media" and "Next Media" is a Hong Kong listed company. There are many rumors in the society about whether "Apple Daily" and "Next Media" can survive. And guessing.

Liang Zhenying pointed out that all directors of "Next Media" have an unshirkable legal responsibility to all shareholders. They should fully, accurately and publicly inform all shareholders of the company's latest operating conditions. He criticized that all directors have not fulfilled the above legal responsibilities so far. Therefore, he entrusted a lawyer to speak to all directors of Next Media, stating that he reserves the right to pursue legal liabilities.

Exploded holding 2,000 shares of Next Media

In early June, Liang Zhenying, who has been following the operation and news content of Apple Daily for a long time, revealed that he bought 2,000 shares of Next Media as early as 2018. “I bought 2,000 shares of Next Media in 2018. Indirectly buy or sell any shares of Next Media. Market participants don’t have to guess.” On May 26, Liang Zhenying said on social media that, at that time, Next Media had been suspended for nine days and the group had not issued the statement promised in the above announcement. The trading was not resumed, so he filed a complaint with the law enforcement agency, requesting a thorough investigation, and reserved all other legal rights.

Zhang Huafeng: If the company violates the listing regulations, the company may need to be sold or wound up.

The Pakatan Harapan financial services member Zhang Huafeng said when he accepted the "Hong Kong 01" inquiry, Next Media (282) has fluctuated from time to time in the past. At the time of the arrest, there were already many uncertain investment factors, and many people had warned investors to weigh investment risks.

Zhang Huafeng pointed out that once the "Apple Daily" ceases publication and online news, Next Media will have a good chance of triggering the "Listing Regulations". The actual situation has yet to be explained to the Securities Regulatory Commission by the board of directors. If the "Listing Regulations" are violated, Next Media will be Delisting and changing back to a private company. At that time, to compensate for the losses of the minority shareholders, the company may have to sell or wind up, but once it applies for liquidation, many assets will be recovered by the liquidator.

Zhang Huafeng said frankly that the minority shareholders "can do much" at this moment, and pointed out that the minority shareholders are "powerless" at this stage.

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