Chapter 339 A Forceful Declaration: You Have No Right to Refuse!
Su Zhixue's announcement stirred up a huge uproar in the meeting room.
Almost all the Westerners present found it hard to believe.
They thought back to the stock battle over Wharf Holdings; although Jardines Matheson ultimately lost, the contest had lasted for more than half a year before Bao Yugang managed to seize control.
But now, without any prior rumors, they were suddenly informed at this meeting that Jardines Matheson had already been acquired?
"As the head of Jardines Matheson and Jardines Matheson, I hereby sincerely congratulate Mr. Lin Haoran on officially becoming the new leader of Jardines Matheson. I will fully cooperate with all your decisions and actions moving forward!" Niu Bijian stood up and solemnly declared.
Having decided to follow Lin Haoran, Niu Bijian naturally needed to make his stance clear immediately.
Voting?
Was that even necessary anymore?
Lin Haoran not only held 47.3% of Jardines Matheson's shares but also controlled the additional 19% of Jardines Matheson shares!
What could the British consortium possibly use to compete against him now?
"No wonder you insisted that Jardines Matheson exchange shares for cooperation with Hongkong Electric. It turns out everything had been premeditated!" Bofuda suddenly realized, speaking with a hint of unwillingness.
He understood that after this meeting, he would likely be facing unemployment.
"It's just a very normal business decision. There was no conspiracy at all," Lin Haoran responded with a light smile.
At that moment, Su Zhixue announced another even harder-to-accept fact:
"Considering that Jardines Matheson holds 30.1% of Jardines Matheson's shares and is the actual controlling shareholder, coupled with Huanyu Investment's 19% shareholding, giving a total effective control of 49.1%,
from today onward, Jardines Matheson will officially become a subsidiary of Huanyu Investment, a publicly listed company.
Henceforth, both Jardines Matheson and Jardines Matheson will steadily move forward under the leadership of Mr. Lin Haoran."
If losing Jardines Matheson made Henry Keswick resentful but still somewhat able to accept it, then losing Jardines Matheson was a blow he absolutely could not endure.
Where did the foundation of the Keswick family lie?
It was Jardines Matheson!
Henry Keswick could hardly imagine the consequences if the Keswick family lost Jardines Matheson.
Over the years, relying on Jardines Matheson's financial might, the Keswick family had risen from an obscure British family to a prominent one among Britain's financial elite.
All of this brilliance came from the endless wealth generated by Jardines Matheson.
Even though they only held about 12% of the shares, thanks to their deep roots and the indirect profits through controlling Jardines Matheson, the returns had far exceeded the actual value of their holdings.
That was why they had never considered increasing their stake—there was simply no need.
In Henry Keswick's view, raising the holding would require massive funding. Since Jardines Matheson was stable in their control, why bother?
Now, facing this sudden change, he could barely keep his composure.
"No! You cannot take over Jardines Matheson! Jardines Matheson belongs to the British consortium. We won't allow Chinese to lay a hand on it! I demand that the Governor intervene! This is a hostile takeover! Your actions are destined to fail!" Henry Keswick shouted, almost incoherently.
Losing Jardines Matheson was an established fact. But he was unwilling to let go of Jardines Matheson!
"Hostile takeover? Jardines Matheson is a publicly listed company. I acquired the shares legally on the open market.
As far as I know, Mr. Henry Keswick, your family holds no more than 12% of Jardines Matheson's shares, right?
Even if you add Huifeng Bank's 6% and the shares held by other British consortium members, you barely reach twenty-something percent.
Meanwhile, Jardines Matheson holds 30.1% and Huanyu Investment 19%. Together we control nearly 50%.
How exactly do you intend to contest control, Mr. Keswick?
Besides, let me tell you this: before coming to Connaught Centre, Governor Murray MacLehose personally assured me he would not interfere in any legitimate business competition between myself and the Jardines Matheson consortium.
All my actions are fully legal and compliant.
I'd like to see what tricks you have left, Mr. Keswick," Lin Haoran replied calmly, sitting confidently in his chair.
With Governor MacLehose's assurance, Lin Haoran was fully confident.
And the real problem was that the British consortium had, in order to minimize their investments, ended up scattering their shares too widely.
Who could have imagined that before Lin Haoran started acquiring shares, the largest private shareholder, the Keswick family, only held about 12%?
If they had owned around 30%, even with others' support, no one could have shaken their control of Jardines Matheson.
They had brought this situation on themselves.
The room fell silent.
Those British shareholders with stakes in Jardines Matheson exchanged glances.
In fact, Lin Haoran's acquisition didn't impact their interests much.
They had been content to earn dividends without putting in effort or risking more investments.
Now that the situation had turned, they realized there was no point in resisting.
Thus, none of the major shareholders spoke up in opposition.
As for the professional managers on the board, they glanced at Bofuda, their immediate superior, and at Niu Bijian, who was his superior's superior, and quickly made their decisions.
"In view of our significant advantage, there is no need for a vote.
Even if Mr. Keswick opposes, it's meaningless.
Hereby, I announce several important decisions:
From today, I, as the major shareholder, will officially take over the leadership of Jardines Matheson.
Mr. Niu Bijian will step down as head of Jardines Matheson but will remain a board director and head of Jardines Matheson.
Mr. Bofuda's position as Executive Director and General Manager is hereby revoked.
Until a new appointment is made, Mr. Niu Bijian will temporarily act in his place.
Meanwhile, the Finance Department will be temporarily taken over by my team. The head of the Finance Department must fully cooperate with us.
As for the senior management of Jardines Matheson:
Those who wish to resign alongside Mr. Bofuda are free to do so.
Those who choose to stay will be welcomed.
However, be advised:
Future selections for senior management at both Jardines Matheson and Jardines Matheson will be stricter, and anyone deemed unqualified will face demotion or dismissal," Lin Haoran declared.
"I, as the outgoing head of Jardines Matheson and Jardines Matheson, fully support Mr. Lin Haoran's decisions!" Niu Bijian added firmly.
Thus, Bofuda, once a powerful executive, was directly removed from his positions.
With Niu Bijian's experience, even without Bofuda, Jardines Matheson could maintain stability without chaos.
Lin Haoran's words crushed Bofuda's final hopes.
He now wore a completely defeated expression.
Supporting Henry Keswick had been a calculated move.
After all, Niu Bijian, like him, was just a hired manager, while Henry Keswick was the real power behind Jardines Matheson.
But now, the one he had chosen to side with had fallen.
"Ah," Bofuda sighed deeply.
At least he wasn't in denial like Henry Keswick.
He accepted that he was paying the price for his poor choice.
With Bofuda silent, the other senior managers quickly began to express their loyalty:
"Mr. Lin, I am willing to stay at Jardines Matheson and contribute to the company's future."
"Mr. Lin, I am willing too!"
"I am willing as well!"
Out of eight senior executives, except Bofuda, the other seven chose to stay.
To them, it was just a change of ownership—nothing else.
Although they had once looked down on Chinese businessmen, they understood that knowing how to adapt was crucial for survival.
"Very good.
As the future controller of Jardines Matheson and Jardines Matheson, I welcome you to stay.
I believe you will not regret today's decision," Lin Haoran said with a smile.
Of course, deep down, he had already planned to gradually replace all of them over time.
But not now.
If he cleared them out all at once, it would cause chaos.
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