• 132
  • 13
  • Favorite

Sea Limited sets annual meeting with plan to boost class B voting power

Seeking Alpha2022-01-04

Sea Limited has set up its annual meeting with a plan to expand voting power of its ClassB shares, consolidating control with its founder, chairman and CEO.

DeanDrobot/iStock via Getty Images

At the Feb. 14 meeting, shareholders will take up a company proposal to boost the voting power of each Class B share from three votes to 15 votes.

Tencent Holdings plans to convert all of its Class B ordinary shares to Class A ordinary shares on the passing of that special resolution. And that would leave all outstanding Class B ordinary shares owned by Chairman/CEO and founder Forrest Li.

Tencent also will end the proxy by which it gave Li the voting power for its Class B shares.

Running through the math, Li's class B shares post-conversion would grant him about 57% of total voting power (up from 52% today), and Tencent's voting power is expected to be less than 10%.

The special resolution requires 75% approval from voters at the meeting.

Earlier, BofA upgraded Sea to Buy from Neutral.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment13

  • Phyusin
    ·2022-01-04
    Great 
    Reply
    Report
  • Jialatsia
    ·2022-01-04
    Meep
    Reply
    Report
  • moonlightbae
    ·2022-01-04
    ahhhhh
    Reply
    Report
    Fold Replies
    • Bull1973
      Ok
      2022-01-04
      Reply
      Report
  • Huat Huat Ah
    ·2022-01-04
    Huat Huat all
    Reply
    Report
  • Barbarazhao
    ·2022-01-04
    Good 
    Reply
    Report
  • Carolmonbu
    ·2022-01-04
    Good day 
    Reply
    Report
  • YueShan
    ·2022-01-04
    Good Day
    Reply
    Report
  • BoonHuat
    ·2022-01-04
    Nice.
    Reply
    Report
    Fold Replies
    • YoshiTei
      ok
      2022-01-04
      Reply
      Report
  • Darren77
    ·2022-01-04
    Hopefully this will bring SE to the correct price of 340++!🙏
    Reply
    Report
    Fold Replies
    • soosoo
      hope so
      2022-01-04
      Reply
      Report
  • Neelie78
    ·2022-01-04
    👍!
    Reply
    Report
  • ALAL
    ·2022-01-04
    Yea 
    Reply
    Report
  • Le66ad
    ·2022-01-04
    👍🏻
    Reply
    Report
    Fold Replies
    • Le66ad
      👌
      2022-01-04
      Reply
      Report
  • Gibbie
    ·2022-01-04
    Shopeepeepee
    Reply
    Report
    Fold Replies
    • missreenaa
      gosh this is everywhere haha
      2022-01-04
      Reply
      Report
errorbox banner

抱歉,当前请求异常(-1)

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial