Originally Posted by
SBRed48
To clarify a factual point all shareholders have the right to vote, whether physically present at Board meetings or not. Holding shares means they are an owner.
If they have left the club who now holds their shares ? It is illegal not to register changes in ownership shares in a public company.
Chein Lee and son hold 31.25%, Pacific Media (Conway and Hung) hold 7.5%.
Read the wording of the Statement again. It says they have left the board, not the club. Cleverly worded Statement I agree but they are still there as owners.
At the moment the Lee/ Conway/ Hung group totalling 39,25% of shares can be outvoted so do not attend the Board meetings. It only needs a volatile change in decision by one or more hedge fund manager in the Investor Group, say if they asked to invest, and they could sell shares or revert back to the Lee camp.
This BFC Ownership is unstable. Parekh's Statement seems to worked on some gullible fans.