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Author: kidchicago2 Big red star, 1000 posts Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1656  
Subject: Re: Chaoda partial annual meeting results Date: 12/30/2011 9:50 AM
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At least the auditor hasn't resigned yet. It was interesting to see the one director forced out; the rest of the slate only eked by with support in the low 50% range.

Here is a little more color from the AGM, as reported by AAstocks:


"During a shareholder meeting of CHAODA MODERN (00682) today, in response to when the Company will announce its financial statement, the management said it depends on the auditor's necessary audit time and progress, and there is no official timetable at the moment. The Company is currently going through additional audit procedures for the annual financial report in smooth progress. In addition, there are questions to the management by the shareholders about the stock price performance and brand-building.

In regard to the debt holders' right to request the Company to accelerate the redemption of the principal of the USD200 mln in convertible bonds, the management only said to the shareholders that the Company has ways to solve the fund problem, but did not disclose the specific method."
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