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> The company has suffered from a hostile takeover by a Chinese investor who is wanted in China for fraud. He used a number of straw-men and businesses to accum
by lcswi 11y ago
> The company has suffered from a hostile takeover by a Chinese investor who is wanted in China for fraud. He used a number of straw-men and businesses to accumulate more and more Mega shares. Recently his shares have been seized by the NZ government. Which means the NZ government is in control. In addition Hollywood has seized all the Megashares in the family trust that was setup for my children.
Huh! I had no idea Mega was publically shared. Why would you do that if your philosophy was supposed to be privacy, not money?
- jacquesm 11y agoIt doesn't have to be publicly shared for a hostile take-over to happen. All that has to happen is that your 'investor' shares constitute a majority and that those shares end up in the hands of someone that kicks out the C-suite and replaces them with others. One way in which this could happen is if the entities holding those shares are bought (so an indirect hostile takeover). As an example: one of my companies holds shares in another. If I sell the parent company the other shares - and their voting rights - will transfer as well to the new owner. This is because there is no 'change of control' trigger clause in the shareholder agreement of the daughter company, if there were then such a change of control could force the company in the middle to offer its shares to the sitting shareholders of the daughter company. But even that can still go wrong: the sitting shareholders would have to be able to meet-or-exceed the value placed on the shares and if they can't the shares end up in the hands of others.