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Shenzhen Stock Exchange (SZSE) recently held in Shenzhen the 2016 training for controlling shareholders and de facto controllers of SME board companies to improve their awareness of standard operation and propel the companies to be better performers. Conducted in the modes of real-time remote live and on-site training, it had over 900 participants including the controlling shareholders, de facto controllers, chairmen and senior management of nearly 500 SME board companies. Among them, more than 400 people were from newly listed companies and SME board enterprises that have their de facto controllers and chairmen changed in recent two years.
The training was with clear focuses: the recent conducts of illegal appropriation of company funds and lessening of shares by the controlling shareholders and de facto controllers of a few listed companies and the phenomenon of blind cross-border mergers in hot industries, high performance commitment in M&A and reorganization objects and forming of large-amount goodwill, and difficult fulfillment of commitment in M&A and reorganization performance of a few companies. To addressing these issues, the training combined rule interpretation and case study to urge the controlling shareholders and de facto controllers to elevate their awareness of standard operation so as to keep at bay the illegal acts of fund appropriation, insider transactions, false information disclosure and violation of commitment.
Principal of SZSE SME board indicated that in the past 12 years of establishment, SME board has become an efficient financing platform for boosting the growth of SMEs and an important channel for optimizing industry structure and resource allocation. Since its inception, SME board has been upholding the philosophy of strict regulation. After 12-year effort and innovation, it has accumulated rich experience in creditability construction, raised fund management, major shareholder supervision and M&A regulation and built a set of regulatory systems fit for SMEs. In the future, SZME will continue the philosophy of strict regulation to build a "board of creditability", to truly protect the rights and interests of small and medium investors. In addition, SZSE will endeavor to offer quality training and service to listed companies' controlling shareholders and de facto controllers, as well as other market players to guide them in standard operation and move forward the sound and stable development of layered capital market.
