Chapter 294 Poison Pill

Sina has scheduled an extraordinary general meeting of shareholders to be held on June 22.

This time was not concealed from the media, and it was not long before MIGA's request. Almost immediately, everyone felt Sina's tough attitude.

Do you want to hold a shareholders' meeting?

Okay, don’t delay, just come.

Do you want to control Sina?

Okay, let’s try the poison pill plan.

Although Duan Yongji, co-chairman of Sina's board of directors, only gave one interview and did not appear again, his initial statement and subsequent interviews with Sina executives all showed Sina's firm attitude in fighting a defensive war.

Because of Sina's special status and the status of acquisitions at home and abroad, many media outlets have reported, commented and analyzed this incident at length.

Will the MIGA fund be successful?

What are Sina's chances of winning?

Why does MIGA seek control of Sina?

And so on, so lively.

As the president of a venture capital institution who is firmly optimistic about the development of the domestic Internet industry, Xiong Xiaoge also followed this incident with great interest and reads newspapers and watches news online every day.

Sometimes, he would also take the time to comment and discuss the implications of the MIGA fund's actions.

However, on June 19th, when Xiong Xiaoge took some time to sort out the causes and consequences of NetEase's series of reports, he suddenly saw a familiar name.

"On June 10, Sina elected a new board of directors, including Chairman Jiang Fengnian, Co-Chairman Duan Yongji, Co-Chairman Wu Zheng, Director Mao Daolin, Director Davis, Director Wang Yan, Director Feng Bing..."

"It is reported that MIGA Fund's holdings in Sina began in February this year. Davis entered Sina's board of directors for the first time, and then he significantly increased his holdings of Sina shares."

Xiong Xiaoge read very quickly, and he scrolled down the page as soon as he glanced at it. But as soon as he moved the mouse, he suddenly felt something was wrong. It seemed that there might be a strange name mixed in.

He felt a little dazzled and turned the page again, almost making his eyes pop out.

Ice?

Is it the Feng Bing I know?

Is it the Feng Bing I thought about?

Because there are relatively few contacts with this surname in the circle, and because Fang Zhuo was asked to introduce his new investment company a while ago, Xiong Xiaoge is a bit sensitive to "freezing".

No way, no way, Yike Investment is also involved, right?

Xiong Xiaoge directly called Feng Bing while staring at the screen.

"Hey, Mr. Feng, what's the situation between you and Sina?" he asked directly.

"Waiting for the extraordinary shareholders' meeting." Feng Bing had received many similar calls in the past few days and said without hesitation.

Xiong Xiaoge was stunned: "Are you really a director of Sina? No, Yike invested in Sina? When did it happen? Didn't the company not be long ago? Why did you become a director? What does Fang Zhuo mean?"

Feng Bing heard so many questions at once and wondered: "I just followed Mr. Fang's arrangement to join the Sina board of directors. Anyway, I just follow everyone's wishes in meetings at Sina these days. Well, Mr. Fang also asked me to do this. of."

Xiong Xiaoge: "..."

After a while, he asked: "How many shares of Sina does Yike Investment have?"

"10.1%." Feng Bing replied.

Xiong Xiaoge asked from the bottom of his soul: "Where did Yike Investment get the money?"

"Mr. Xiong, what do you mean?" Feng Bing doesn't know where the company's money comes from, but he can't say that, puppets also have dignity!

Xiong Xiaoge shook his head: "Forget it, I'll call Fang Zhuo."

The phone hangs up.

Xiong Xiaoge stared at the screen, feeling that the words "Director Feng Bing" seemed to be slowly turning into "Director Fang Zhuo".

He called directly and asked directly without waiting for the other party to say anything: "Fang Zhuo! Why are you involved in Sina! Where did you get the investment money?"

Xiong Xiaoge suspected that Fang Zhuo had misappropriated Yike's money. Did he just buy Sina's shares after raising Series A? ?

"The financing money has not been used. I borrowed it from the bank." Fang Zhuo knew what Lao Xiong was thinking.

Xiong Xiaoge was slightly relieved, but still doubted: "Really?"

"Well, really." Fang Zhuo said with certainty, "The financing money is used to buy music copyrights and cannot be touched. Even if I am optimistic about Sina, I cannot touch it."

Xiong Xiaoge didn't believe it all. He had the feeling that he was suddenly distracted by the news, and asked angrily: "Why are you fooling around on Sina?"

"Oh, it's just a non-executive director, Mr. Feng." Fang Zhuo said evasively, "I'm optimistic about Sina."

Xiong Xiaoge thought for a while, but did not expect that the hostile acquisition would be related to the guy opposite him. He gossiped with interest: "In a few days, there will be a temporary shareholders' meeting. Sina will compete with MIGA. Who will win?"

Fang Zhuo muttered: "This wave, Sina will definitely win this wave, Lao Xiong, you can take the opportunity to buy some stocks."

Xiong Xiaoge said "ha": "Sina is so messy, I won't buy it."

The person behind the scenes, the non-executive director of Sina, said displeasedly: "Is there anything else? I have nothing to do. I am busy."

"Why did you come back from New York? Just for Sina?" Xiong Xiaoge asked.

"Mr. Yu is talking with Apple, and the channel is working hard. I will go back to China to check the market situation, and record a program in Beijing to return the favor." Fang Zhuo said, "Sina is also happy."

When Xiong Xiaoge heard about Yike, his attention shifted and he started chatting energetically.

Fang Zhuo chatted with him for a while before ending the call.

As soon as he put down his phone, he received a phone call from Feng Bing, vice president of Yike Investment, saying that Sina would officially start a private placement. In addition to the MIGA fund that triggered the equity line, old shareholders of the board of directors could purchase the additional shares at a discount price.

"Mr. Fang, the board of directors has some different opinions on the number of additional shares." Feng Bing said.

Private placement can certainly reduce the shareholding ratio of the hostile acquirer, but the stocks purchased by old shareholders will also enter the restricted sale state. If Sina's future is shattered, everyone will be trapped.

According to Duan Yongji's meaning, the number of additional shares does not need to be too large, just suppress MIGA's arrogance, let the other party know that they are really not just talking, and then talk.

"Well, just follow Wang Yan's opinion and Duan Yongji's opinion. If you need to vote, vote for them." Fang Zhuo ordered, "Don't argue with them, and don't express any opinions."

Feng Bing said: "Okay, Mr. Fang, then... do you want to come to the meeting for additional issuance and purchase?"

"I won't go, so as not to make each other unhappy. No matter how much Sina issues, Yike Investment will buy as much as it can support within the rules." Fang Zhuo said affirmatively, "Others dare not express their opinions, Yike will express their opinions, and others dare not buy, Yike will buy."

Feng Bing was introduced by Xiong Xiaoge and currently plays the role of a puppet director. He is not clear about the boss's plan and hesitated for a while: "Mr. Fang, should you think about it again? This seems a bit reckless."

"This is not something you need to consider, just do it." Fang Zhuo said lightly.

Feng Bing thought for three seconds and understood that Mr. Fang and Sina were insider trading.

Fang Zhuo didn't know what his vice president was thinking. If he knew, he would probably say it was a blessing in disguise.

There are still three days before the temporary shareholders' meeting. What he is considering now is not the veto control, because with the start of the additional issuance, the result will be similar.

What needs to be considered now is how to control Sina. The means of the capital market alone are not enough. If this group of people directly lead a group of backbones to resign and leave, an empty shell may miss the most rapid stage of domestic Internet development.

This is a difficult problem. After all, capital means are a little bit fierce, but not fierce.

Fang Zhuo feels that such a situation requires some wisdom and a little cunning.

Coincidentally, he has both.