Cheng Family Seeks Board Control Of Giordano (709 HK)
Some 17 months after the Cheng Family failed to secure 50%+ of Giordano International (709 HK), the family are now calling an SGM to install friendly directors.
Sino Wealth, a Cheng family's vehicle with 24.06% of shares, has requisitioned an SGM to remove CEO Peter Lau, and install Colin Currie as CEO, plus appoint three other NEDs/INEDs.
If this were to come to pass, the family would have (almost) effective control of the board. The vote will be close. And David Webb is now below 5%.
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