Car-hailing Driver: Rewards from Complaints-Chapter 254 - 162: Facilitating the Merger to Create the World’s Largest Club

Generally speaking, the major shareholder is definitely more dominant than the second major shareholder.

However, nothing is absolute; specifics must be handled specifically.

The shareholding structure of Jinhai Club is as follows: Chen Jinhai holds 45%, Yang Chen holds 30%, Zhao Chenglong holds 10%, Chen Wangyuan holds 6%, Li Zhengfu holds 5%, and Wu Han holds 4%.

The shareholding structure of Jinying Club is as follows: Chen Jinying holds 45%, Yang Chen holds 30%, and the remaining 25% is equally divided among Ge Chun Tian, Wang Xiahua, Zhang Qiushi, Tong Lina, and Wu Sijie.

Judging from the shareholding structure, Chen Jinhai and Chen Jinying obviously have the most say.

However, if Yang Chen can ally with other shareholders to oppose them, they will lose decision-making power.

According to the company law, more than two-thirds of the shareholders (shares) must agree to pass company decisions.

As long as Yang Chen and the other shareholders join forces, Chen Jinhai and Chen Jinying will also have to back down.

This situation is similar to those domineering CEO dramas where the protagonist is clearly a major shareholder or founder, yet gets sidelined and forced out by other shareholders joining forces.

A major shareholder without absolute control is easily coerced by other shareholders.

Therefore, many people, when selling shares for financing, will create an agreement of dual-class shares, where the counterparty’s shares only have dividend rights and no voting rights, thus ensuring the major shareholder or founder retains absolute control over the company.

But Chen Jinying and Chen Jinhai lacked this foresight; during their initial competition, they blindly expanded and upgraded, selling as much as 55% of the shares to other shareholders for financing, and didn’t stipulate different classes of shares, leaving hidden dangers for their future.

From the attitudes of customers and employees, everyone hopes Jinhai and Jinying will merge to become Dragon Country’s largest golf club.

Other shareholders surely have the same idea, which is why Yang Chen dared to publicly challenge Chen Jinhai and Chen Jinying siblings simultaneously.

If other shareholders side with Yang Chen, the merger will surely not be difficult.

If other shareholders don’t side with Yang Chen, then as the second major shareholder, he has the legal right to demand the major shareholders manage the company well and not cause losses to the shareholders.

So, Yang Chen’s move was not wrong, it just took everyone by surprise.

Chen Jinhai laughed and said, "President Yang, you don’t quite understand the competition between us, so it’s better not to get involved."

Yang Chen hadn’t spoken yet when, in the distance, customers of Jinying Club came in droves.

Customers of Jinhai Club also quickly gathered on the spot and then came over here.

Yang Chen replied with a smile, "I’ve spent so much money acquiring shares, how could I not understand you guys a little? Now it’s not that I want to get involved, but even the customers can’t stand it. They’re all here. Let me be blunt, if your actions cause me losses, I will definitely hold you accountable. Deliberately harming shareholder interests is illegal behavior, and I have the right to hold you accountable."

Right now, it’s about putting Chen Jinhai and Chen Jinying on the fire; only by roasting them until they can’t stand it, is there hope for a merger.

Chen Jinhai and Chen Jinying panicked, hurriedly going over to greet their respective customer groups. 𝕗𝐫𝐞𝕖𝕨𝐞𝗯𝚗𝕠𝘃𝐞𝚕.𝐜𝗼𝚖

No matter what they think, they can’t show them a bloody scene of conflict.

But the customers of both clubs had already agreed to use this conflict as a breakthrough point, coordinating with Yang Chen to merge the two clubs.

So, they wouldn’t listen to what Chen Jinhai and Chen Jinying said, stubbornly arriving at the scene of the conflict.

Seeing several areas of the grass stained red with fresh blood, customers began to make a big deal out of it.

"Are you two ever going to be done? Fighting every day, is it fun? This is golf, not #%!& rugby, we’re here to experience a refined sport, not to watch fights. Do you think it’s appropriate to keep doing this every day?"

"Damn, I’ve completely lost interest, it’s the first time I find golf so low, you’ve made me lose interest in golf, do you know that?"

"I don’t want to play either, small clubs are boring, big ones fight every day, what the hell. Let’s cancel the cards and go play at the Beijing Huarun Golf Course together later."

"I agree, let’s cancel the cards together."

"I’m canceling too! If others see this, they’d think golf is very low-class, like street thugs fighting; I can’t afford to lose face like that. Cancel the card!"

"Cancel the card! Cancel the card! Cancel the card..."

...

I must say, these customers’ acting skills are quite impressive, you couldn’t tell they’re acting at all.

Maybe they’ve genuinely suffered from the competition between the two and have long been discontent, they’re just expressing their true feelings now.

Li Jinhai and Chen Jinying panicked; there are indeed many wealthy people in Hai City, but there are only so many who play golf.

If customers really cancel their memberships and blacklist Jinhai and Jinying, the two clubs can just close down.

Both clubs have invested billions in expansion and upgrades over the years, and it’s only in recent years that they’ve started to turn a profit. Closing down now would be too damaging; previous investments would be wasted, and shareholders certainly won’t let it go.

Chen Jinhai and Chen Jinying hastily apologized to the customers, promising such things won’t happen again.

But the customers didn’t care what they said, insisting on canceling their memberships.

Canceling memberships is certainly not feasible; once you’ve eaten something, there’s no reason to spit it out, right?