The Provisional Shareholders' General Meeting Held A Bill Of Removal Of The Director Of The *ST.

On the evening of September 9th, *ST Gao Sheng (000971, SZ) issued a notice that, because of the special instructions of shareholders in Ping and Weng yuan's letter to the convening of the provisional shareholders' meeting, it violated the relevant provisions of the articles of association, the board of supervisors decided to cancel the 6 motion of the first temporary shareholders' meeting in 2019 (which will be held in September 11th afternoon), namely, motion 2, motion 3, motion 4, motion 5, motion 6 and motion 7.

The 6 bills mentioned above involve 3 directors who have removed the *ST up, and 3 directors have been invited by election. The daily economic news reporter noted that this is the second time that Ping and Weng yuan have called for the 3 directors to be dismissed.

Removal of directors' motion was cancelled

According to previous announcements, there were a total of 7 proposals for *ST's first provisional shareholders meeting in 2019. In addition to bill 1, which was about the resolution to tighten up the company's illegal guarantee and joint borrowing, the remaining bills 2, motion 3, and motion 4 were the motions concerning the withdrawal of three directors of Wei Zhenyu, Li Yao and Zhang Yiwen respectively from the ninth board of directors. The motion 5, the motion 6, and the motion 7 were respectively motions for adding Wei Jiang, Fang Yu and Ye Zhengmao to the board of directors of the ninth session.

*ST Gaosheng acquired a 100% stake in Gaosheng Technology Co., Ltd. in 2015. Thus, two people in Ping and Weng yuan got a *ST stake. Half year report shows that as of June 30th this year, Ping Heng Weng yuan holds 8.27% of *ST shares, which is the largest shareholder after Beijing Yu Chi Reed Investment Limited (hereinafter referred to as Yu Chi Reed) and its concerted action LAN Ding Industrial (Hubei) Co., Ltd. (hereinafter referred to as "blue tripod").

*ST Gao Sheng board of supervisors voted to cancel the motion 2 to 7. The reason is that the special instructions in Ping and Weng yuan's invitation to convene the interim shareholders' meeting are in violation of the relevant provisions of the articles of association fifty-second, fifty-third, eighty-second and eighty-third.

For the specific violation of the contents of the above four provisions, the "daily economic news" reporter on September 9th evening call *ST Gao Sheng dongma office, but did not contact the other party.

However, the reporter noted that the fifty-third provision of *ST's "articles of association" stipulates that shareholders who hold more than 3% of the company's shares separately or collectively may submit provisional proposals 10 days before the general meeting of shareholders and submit them to the convener in writing. The convenor shall, within 2 days after receiving the proposal, issue a supplementary notice to the shareholders' meeting, announce the contents of the provisional proposal, and the eighty-third provision stipulates that the shareholders' meeting will not set aside or refuse to vote on the proposal unless the shareholders' meeting is suspended or unable to make a resolution due to special reasons such as force majeure.

*ST high rise continues to dominate control competition

In fact, in January 20th of this year, 9 shareholders of the same term also issued a proposal to request the convening of the interim meeting of the board of directors of the *ST board of directors, and proposed to recall the four person directors of Wei Zhenyu, Li Yao, Zhang Yiwen and Sun Peng. However, some shareholders subsequently withdrew the motion.

The daily economic news reporter noted that the company was in danger because of *ST's high rise, which provided nearly 2 billion yuan guarantee for the blue tripod industry and its related parties. Yu Chi Reed and LAN Ding industrial holding *ST Gaosheng shares were once faced with the auction situation. The 3 directors who were proposed to be removed were all *ST's senior controllers. The dispute over the board of directors is part of *ST's struggle for control.

Earlier, a source close to the equal person told the daily economic news that the move to make *ST rise to an early stage is a move to remove the director of the company.

In the evening of August 28th, *ST also took the initiative to announce through the announcement that in the *ST Gaosheng acquisition in 2015, the 5 shareholding of Gaosheng 100%, held by Ping Ping, Weng yuan, Xu Lei, Dong Yan and Zhao Chunhua, were 5 yuan from Ping, Weng yuan and so on. At present, they still owe about 180 million yuan in personal income tax and 750 thousand yuan in stamp duty. Xu Lei and Dong Yan denounce the *ST high rise board and the secretaries' office. They are wasting time to confuse the public with their eyes.

It is interesting that *ST held the first session of the provisional shareholders' meeting in 2019 on the afternoon of September 11th. The fifty-seventh provision of *ST's "articles of association" stipulates that after a notice of shareholders' meeting is issued, without a proper reason, the shareholders' meeting shall not be postponed or cancelled. The proposal set forth in the notice of the shareholders' meeting shall not be cancelled. If there is an extension or cancellation, the convenor shall announce and explain the reason at least 2 working days before the scheduled date of the call. That is to say, the *ST rise was just cancelled at the last deadline of the required requirement, and the recall bill was cancelled.