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Disclaimer: These are excerpts from student assignments conducted as part of a Corporate Finance class. The opinions represented do not necessarily agree with mine. I do not vouch for the quality of the recommendations or the accuracy of the numbers. Follow the recommendations on your own risk.

@LSEPKUSummerSch #CorpFin #students give voting recommendations for the #AGM of #ChinaSmartpay $HK8325 today

#students approve of current directors, applaud good performance but recommend more representation of minority shareholders #AGM of #ChinaSmartpay $HK8325 #CopGov #Boards

#students think current leverage low, should finance investment with debt rather share issuance as proposed #CorpFin #Leverage #ChinaSmartpay $HK8325

#students also point out that proposed limit for #share #issuance rather high, fear dilution #ChinaSmartpay $HK8325 #CorpFin #Equity

Proposal Excerpt of Student Recommendations
For Against
(2)Director election
  • Enough independent directors to supervise management
  • Recent performance is satisfactory, profitability laudable
  • Potential conflicts of interest, with directors owning a great fraction of shares. Possible representation of minority shareholders should be considered
(4)Authorization to issue shares / repurchase shares
  • In general shareholders may benefit from repurchases; current leverage is low and could be higher
  • Limit for equity issuance on the high side (20%) – potential dilution too high
  • Leverage is already very low, debt preferable to equity issuances

Results:

http://www.moqixu.com/wp-content/uploads/2016/08/GLN20160822031.pdf

 

Table from link:

 

Video: