High transfer offer contrary *ST hirun align shareholders and executives get tickets

Polaris solar PV net news: *ST hirun shareholders, executives at the proposals, decision-making high dividend and transfer of existing illegal actions (disclosure link), the SSE recently to draw on relevant liability fines, of which *ST hairun’s Chairman and General Manager of Huai Yang is being denounced.

By regulatory sector identified, *ST sea run January 23 bulletin displayed, company shareholders, and Chairman and General Manager Yang Huaijin and other two bit shareholders nine run tube industry, and zijin electronic group he Shi common to listed company Board proposed: based on *ST sea run future development needs and combines company 2014 actual operating status, to active returns shareholders, and all shareholders share company future development of operating results, in meet profit distribution principles, guarantee normal operating and long-term development of premise Xia, proposed * ST sea run in 2014-“for every 10 shares converted into 20 shares of” profit-sharing plan.

Meanwhile, the *ST sea run after receiving such profit distribution proposal of the Board, to live and communicate the means of communication with the company’s Board of Directors all directors, Director Yang Huaijin, Li Yanren, Ren Xiangdong, Wu Yishan is aware and agrees that the per capita distribution of profit proposal, all Directors sign a written confirmation, and promised at the time of convening the Board of Directors of the company consider the above proposal of profit distribution to vote.

However, the “generous” raised high after transfer, *ST hirun had erupted on January 31 this year performance losses. Notice, preliminary estimates by the Finance Department, 2014 is expected to lose about 800 million yuan in net profit. For this, the shareholders said the company was not aware of when the profit distribution proposal put forward for information about listed companies results in 2014 all Directors also agreed that the profit distribution proposal and pledge to vote, and *ST hirun 2014 results is not known about.

Regulators believe that Yang Huaijin as *ST the sea-run shareholders, also serves as the company’s Chairman and Managing Director, introduction and consideration of the relevant profit allocation proposal, should be aware of or to actively verify the operating situation of the company, and to determine the profit distribution proposal and the related disclosure content conforms to the actual operating situation of the company. Yang Huaijin verified in should be aware or do not take the initiative business case, “combining hareon 2014 real operating conditions, positive return to shareholders, with all stakeholders share the company’s future operating results” for the proposed and agreed with the profit distribution proposal, disclosure related with the company a few days notice performance loss obviously, and may have a significant impact on investors ‘ judgment. Huai Yang entrance was diligent and responsible, such acts have seriously violated the related provisions of the listing rules of Shanghai Stock Exchange, as well as in the directors (supervisors and senior managers) the commitments made in the Declaration and undertaking. Jiurun pipe industry, purple and electronics group, as well as *ST hirun executives mentioned in the above link also exists a similar violation.

Facts and circumstances in view of these breaches, Shanghai Stock Exchange approved by the Disciplinary Committee and in accordance with the relevant provisions, the SSE decided to publicly condemn the Yang Huaijin; jiurun pipe industry, zijin Electronics Group, and the *ST sea run director Li Yanren, Ren Xiangdong, and Wu Yishan, Zhang Yongxin, Zhang, independent Director Hong Dongping, Jin Caoxin, Xu Xiaoping criticized.

Needs to be pointed out is this SSE *ST hirun shareholders and executives of the punishment does not mean *ST hirun “high transfer affair” ended. In February this year, *ST sea run for alleged disclosure violations have been Zheng Jian, Jiangsu Bureau of investigation and the securities regulators have turned the main shareholders in the company proposed capital reserve share capital whether insider trading before and after plans to start verification.

Original title: high transfer offer contrary *ST hirun align shareholders and executives get tickets

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