Not surprisingly, the proposal for issuing convertible bonds to CITIC Group was approved with a high approval rate of 99.9% in yesterday’s EGM! In the meeting, both David Webb and James To were present to ask questions to (at the same time criticize) the Management.
On another note, it seems like Larry Yung Chi Kin will not resign soon. He told journalists that the question whether he will leave CITIC Pacific or not is a question for the shareholders. Will the majority shareholders vote against Larry Yung in the next AGM? Apparently not!
