My 1999

Chapter 248 One-vote veto power

Xu Liang thought about it briefly and said with a smile: "I am personally deeply honored to be valued by your company. But cooperation is not necessary. Our Hongyan hedge fund department is establishing the first stock-based hedge fund 'Qinglong' to raise funds externally.

I can give your company $50 million in fund shares. "

Sherron Watkins asked: "I wonder what your hedge fund charges?"

“The fund management fee of 2% is fixed, and if the return on investment does not exceed 50%, dividends will be charged at 20%.

If the annual investment return rate exceeds 50% but is less than 100%, 30% will be charged.

If the annual investment return rate exceeds 100% but is less than 200%, 40% will be charged.

If the annual investment return rate is more than 200%, the fee will be charged at 50%. "

Sherron Watkins frowned. Although he was a little surprised, he was not too disgusted.

Because there are too few hedge funds around the world that can double their income within a year, and even more than 40% are rare. Being able to maintain annual returns at 20% is Buffett's level.

Therefore, Sherron Watkins automatically excludes the latter condition.

If Xu Liang can really earn more than double his income within a year, investors will still earn more.

“When will your hedge fund raise capital?”

"It's OK now. But we have a three-month fundraising period. It will be officially closed after three months, and the closing period is two years." Xu Liangdao.

Sherron Watkins nodded.

"I will contact the head office as soon as possible and give Mr. Xu a reply within three days."

After Xu Liang nodded, he changed the topic and said, "I also have a business here that I would like to cooperate with your company."

"Oh? Please speak."

"Does Mr. Watkins know about Sina?"

"Of course. Your country's largest portal."

Xu Liang nodded slightly, "I am very interested in it, so I want to entrust Morgan @to acquire Sina shares from other institutions that hold Sina shares."

The longer a company operates, the more it realizes the importance of public opinion.

As the largest and most authoritative portal website in the country, Sina can become his mouthpiece and a weapon to resist the violence of public opinion.

Moreover, after the impact of September 11, Sina's stock price has dropped to its lowest value in history, and its market value is hovering around US$90 million, making it very suitable to buy.

However, Sina’s ‘poison pill plan’ always made him wary.

To avoid repeating the grand mistakes of his previous life, he must make complete preparations.

"This is easy. I wonder how much equity Mr. Xu wants?"

Obviously, Sherron Watkins is also very familiar with the situation of Chinese concept stocks on Nasdaq.

“The more the merrier without triggering a Sina poison pill.”

Morgan is different from Hongmeng.

As a foreign investor, the country will most likely not let such a mouthpiece that controls public opinion fall into the hands of Morgan Stanley.

Xu Liang knows this, and Sina management also knows it.

Therefore, Morgan Stanley can acquire as much equity as possible.

As long as Morgan @succeeds, Xu Liang can easily acquire Sina's equity from the secondary market based on the current market conditions, plus the 8.7% already owned by Hongmeng.

As long as the sum of the three exceeds 33.7%, he will win.

Because according to the provisions of the "Company Law": "Resolutions made by the shareholders' meeting must be passed by more than half of the shareholders attending the meeting with voting rights.

However, resolutions made by the shareholders' meeting to amend the company's articles of association, increase or decrease the registered capital, as well as resolutions to merge, split, dissolve or change the company's form must be passed by more than two-thirds of the voting rights held by shareholders present at the meeting. "

In other words, as long as Xu Liang’s shareholding reaches 33.7%, the possibility of passing the poison pill plan will forever be eliminated.

This is the ‘one-vote veto power’ that is often mentioned online.

Moreover, he specifically emphasized that he entrusted Morgan @to acquire equity from institutional shareholders, which reduced the difficulty for him to acquire from the secondary market.

"We can sign the contract at any time." Sherron Watkins said.

"It won't be too late to sign the contract when we reach an investment agreement." Xu Liang said with a smile.

Sherron Watkins shrugged, "Of course, I'm fine with that."

Xu Liang smiled and changed the subject, "How many years has Mr. Watkins been in Xiangjiang?"

"Three years, but counting my time at Morgan @Eastern Company, I have been in the East for eight years."

"It's really not short. I happen to have a private matter to ask Mr. Watkins."

"Please tell me, as long as I can do it, I will never refuse."

"Now my business in Xiangjiang is increasing, so I plan to buy a residence here. But I don't know many people in Xiangjiang, so I can only ask you."

"What requirements does Mr. Xu have for the house?"

"The public security is good, the environment is beautiful, it's quiet, and money is not an issue." Xu Liang said.

"This is an easy matter. I'll ask Mr. Xu. I believe there will be a result soon."

"Thank you very much."

After chatting about work and eating, Xu Liang personally sent Sherron Watkins away.

In the afternoon, Xu Liang came to Hongmeng Xiangjiang subsidiary.

After a brief look at the company's development in August, as well as the data from September to now, there has been basically growth, especially comics websites and novel websites, which have grown the fastest.

The former is due to Japanese comics, and the latter is a traditional Chinese translation of Huanjian and Hongxiu, which is very popular among readers in the Greater China area.

"Why are the registered users of music growing so slowly?" Xu Liang asked.

“Most of Xiangjiang’s music copyrights are in the hands of PolyGram, EMI and Warner. PolyGram is now acquired by Universal, and after EMI declined, Sony took over.

We came to ask for cooperation, but they refused.

Without sufficient copyright support, after the initial rapid growth period, the lack of follow-up was the main reason for our slow user growth. " Qu Guangyun said.

The five major record companies now regard music streaming as a scourge.

If caught, he will be tortured to death.

Napster is the best example.

In the end, it was Lao Qiao who used iPod and iTunes to make the record giant compromise.

Hongmeng and him do not have the influence of Lao Qiao and Apple.

Xu Liang, who made a lot of money through 9.11, has the ability to acquire the top five record companies, but the market value of record companies has not dropped badly enough. It will be relatively easy to acquire them after they have been hit by pirated online music for another year or two.

The key is also to spend less money.

"Forget about the five major record giants, we don't have much capital to convince them now. You mainly focus on public relations for small record companies and independent musicians."

"clear."

“What’s going on with the online copyrights of old movies from New Art City and Media Asia?”

"New Art City spent 20 million on 87 movies. Media Asia is still negotiating, but we just spent 2.3 million to acquire the copyrights of 25 movies under Zedong Films."

"Zedong movie?"

"The company founded by Wang Jiawei, its famous films include "Ashes of Time", "Chungking Express", "Happy Together" and "In the Mood for Love".

Xu Liang suddenly realized that he was the king of sunglasses.

Others make movies because they are excellent, so they are well known.

The reason why the King of Sunglasses is remembered is that, in addition to his talent that makes people love and hate him like Jiang Wen, "Ashes of Time", which is known as the king of traps, is also a very important reason.

"Acquire as much of the film, TV, and music copyrights in Xiangjiang as possible. If the money is not enough, I will support you."

Xiangjiang movies and TV are the common memories of all those born in the 1980s and 1990s, and these people are also the mainstream group of the Internet.

When a video website is established in the future, he can take the lead with these copyrights.

"clear."

Qu Guangyun said.

——

Sherron Watkins acted quickly and brought good news to Xu Liang the day after the meeting.

"Mr. Xu, the head office has officially agreed to subscribe for a US$50 million share of your company's Qinglong Fund."

Xu Liang smiled and looked confident.

"I think this is the best decision Morgan has ever made."

“We look forward to Mr. Xu’s generous returns in two years’ time.”

After the two sides shook hands, Sherron Watkins took out another document and handed it over.

"This is an introduction to some of the luxury homes for sale in Xiangjiang that I have collected. Take a look. Once you're done, let's go on an on-site inspection."

After saying 'thank you', Xu Liang took it.

But after flipping through it, his brows furrowed.

Most of the houses here are about 400 to 500 square meters, and the living area is enough. But judging from the photos, they are too close to the surrounding houses and do not have the privacy he wants.

And he doesn't like European architectural styles either.

Sherron Watkins observed the words, "Mr. Xu doesn't like it?"

"It's a bit small, and it's a little less private." Xu Liang said.

"If Mr. Xu is not optimistic about this, I have a suggestion."

"oh?"

"Mr. Xu can buy a larger piece of land for luxury housing, hire someone to design it, and build it himself.

And I happen to know that the Hong Kong government is going to auction a property on Barker Road next month. It covers a large area of 36,675 square feet. I believe it can meet Mr. Xu's requirements. "

Xu Liang estimated that 36,675 square feet is equivalent to 4,075 square meters, which is almost four times the size of his courtyard in the capital. It is indeed enough.

"When does the auction start?"

"If I remember correctly, it should be October 28th."

After Xu Liang wrote down the date, "Mr. Watkins, thank you very much."

"Mr. Xu, you're welcome. Just call me Xie Lun from now on."

"Sheron."

"Haha, Xu, you are the most talented business genius I have ever seen."

After exchanging business blows for a while, the two signed a contract to invest in Qinglong Fund.

After sending Sherron Watkins away, Xu Liang found Zhao Xun.

"Have you contacted other investment banks?"

"Already contacted."

"How about it?"

Zhao Xun took a document and handed it over.