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  • October 21, 2014
  • Last updated: 8:09pm
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  1. Corsair Capital hires former Standard Chartered chief

    Posted Aug 12th 2010, 12:00am by Naomi Rovnick

    ... Naomi Rovnick Former Standard Chartered chairman Mervyn Davies has become a partner at Corsair Capital, an American private equity fund that specialises in buying stakes in banks. Davies (pictured), who led the emerging markets-focused bank between 2001 a ...

  2. Shareholders claim unfair treatment

    Posted Apr 18th 2009, 12:00am by Staff Reporter

    ... the results, which was unfair to those who voted against it,' Mr Chan said. He said the court should consider the motive behind share splitting and the court should grant an order that the vote ... Frederick Yeung Two PCCW minority shareholders yesterday told the Court of Appeal that they had received unfair treatment when attempting to vote in the privatisation ...

  3. Views on share splitting to be tested

    Posted Jun 08th 2009, 12:00am by Enoch Yiu

    ... split to manipulate the result, then the courts could intervene, and a judge has the power to approve the deal. Likewise, if votes were split to manipulate the result to approve a deal, ... Kong stock market. Market players may be asked if they want to see the scrapping of the 'headcount rule' regarding shareholder voting decisions in privatisation deals or have ...

  4. PCCW buyout saga opens can of worms

    Posted Apr 08th 2009, 12:00am by Enoch Yiu

    ... cent of independent shareholders by share value. But a separate 'headcount rule' requires approval by 50 per cent of the number of physical shareholders present at the vote. This opens the door to share splitting, a legal form of vote-rigging that can be used to secure or block approval for a measure under the headcount rule. For example, a single holder of 500,000 PCCW ...

  5. Shareholders seen approving HSBC offering

    Posted Mar 16th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu, Maria Chan and Natalie Chiu HSBC shareholders are divided over their bank's mega rights issue but Thursday's vote is tipped to give management the approval to proceed with the fresh capital raising. The parent of Hong Kong's largest lender will host a shareholders' meeting in London on Thursday to take a vote on the issue, and its Hong Kong shareholders can ...

  6. Judge says splitting of shares not prohibited activity in Hong Kong

    Posted Apr 07th 2009, 12:00am by Naomi Rovnick

    ... shares. SFC chief executive Martin Wheatley argued splitting shareholder votes to frustrate the results of a takeover meeting should not be allowed. He wants the Court of Appeal to clarify ... Naomi Rovnick As the Securities and Futures Commission lost its legal bid to derail Richard Li Tzar-kai's HK$15.93 billion PCCW privatisation on suspected vote rigging, the judge also ...

  7. Key figures in probe out of SFC reach, court told

    Posted Apr 18th 2009, 12:00am by Staff Reporter

    ... for the privatisation. 'If we turn a blind eye to share splitting, it will result in complete chaos... people can rig the vote,' he said. 'Hong Kong is an international finance centre, the market ... Winston Poon said key figures in its investigation were beyond its reach. The SFC alleges vote rigging and share splitting in favour of the deal was to the detriment of minority shareholders. ...

  8. PCCW pop shows some can game market with impunity

    Posted Feb 04th 2009, 12:00am by Tom Holland

    ... The vote will go ahead, and its result will stand, even though its credibility must now be tainted: proof once again that where tycoons' interests are involved, regulators are spineless, ... suspended on Monday after shareholder rights activist David Webb revealed details of a plot to manipulate today's vote on chairman Richard Li Tzar-kai's proposal to take the company ...

  9. Appeal puts PCCW buyout deal on hold

    Posted Apr 07th 2009, 12:00am by Enoch Yiu, Naomi Rovnick

    ... to help in PCCW's privatisation or that votes cast as a result of the share-splitting by Mr Lam should be disregarded. She said the splitting of shares was not a prohibited activity in Hong ... who said the regulator had not substantiated its accusation of vote-rigging at a shareholders' meeting that approved the deal. Madam Justice Susan Kwan Shuk-hing ruled yesterday ...

  10. Vote for panel to probe move to let ex-housing chief work for developer

    Posted Oct 18th 2008, 12:00am by Staff Reporter

    ... Committee yesterday approved Democrat Lee Wing-tat's proposal to set up a select committee by 40 votes to four, and the decision is now up for final endorsement at a council meeting. David Li ... supported the Democrat's proposal. 'I expect Legco to vote on a resolution on the matter as early as mid-November, following its initial approval in the house committee,' Mr Lee said, ...




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