2. The relative control right is 565,438+0% and the control line is the absolute control right of the company.
3. Safety control is 34%, with one vote veto.
4, 30% of listed companies tender offer line.
5, 20% major horizontal competition warning line
6. Temporary meeting right 10%, and the company can be questioned/investigated/sued/liquidated/dissolved.
7. Warning line for major changes in 5% equity
8. The right of provisional proposal is 3%, and the meeting is held in advance.
9. Subrogation right 1%, also known as derivative litigation right, can indirectly investigate and prosecute (initiate the investigation of the board of supervisors or the board of directors).
As the founder of the enterprise, it is of little significance to want to hold the company absolutely, because this arrangement is unsustainable in the later capital operation process. What we should pay attention to is how to improve the operating conditions of enterprises, create greater returns for shareholders, and make shareholders willing to let the founders continue to retain control.
Of course, if we can design a method of company control, we can avoid the founder being kicked out.
The forms of obtaining corporate control can be roughly divided into three categories: agreement control, equity layout and articles of association control.
1. Voting rights entrustment (voting rights proxy): Some shareholders of the company entrust their voting rights to other specific shareholders by agreement. (Protocol control)
2. Concerted action agreement: Through the agreement, some shareholders take concerted action on specific matters. In the case of disagreement, some shareholders voted for concerted action. (Protocol control)
3. Limited partnership shareholding: shareholders cannot directly hold equity, but put all shareholders in a limited partnership, and shareholders serve as limited partners (LP). Let this limited partnership be used as a shareholding platform. (Equity layout)
4. "AB share plan" in overseas structure: If the company uses overseas structure, it can use AB share plan and implement the system of "same share but different rights". (Equity layout)
5. One-vote veto by the founder: This is a passive defense strategy. When the founder's equity is less than 50%, the shareholders' meeting will decide to give the founder some negative rights, mainly for some major issues, such as merger, division, dissolution, financing or listing.
It should be noted that the company in China can't make the arrangement of AB shares, but limited partnership, concerted action and voting rights entrustment can.