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Thugs-for-hire take shareholder disputes to extremes in Hong Kong


HONG KONG (BLOOMBERG) - When shareholders get angry at management, they typically vote down executive pay packages or stage protests. In Hong Kong, they call in the thugs.
In March, about 18 intruders tried to force their way into a shareholder meeting held by brokerage Convoy Global Holdings and assaulted company employees, the firm said. Eight men were arrested, according to police.
Hong Kong is rare among developed markets for incidents of violence involving hired muscle at shareholder events.
The closest parallel would be Japan in the 1980s and 1990s, when public company meetings were disrupted by yakuza gangsters demanding payoffs. ....

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Former Hong Kong minister Fred Ma leads rebels to breakaway shareholders' meeting in challenge to Convoy's incumbent board


Former Hong Kong minister Fred Ma leads rebels to breakaway shareholders’ meeting in challenge to Convoy’s incumbent board
Enoch Yiuenoch.yiu@scmp.com
© SCMP
Former minister Frederick Ma Si-hang (centre), pictured at Thursday’s meeting as Convoy’s Wan Chai headquarters. Photo: K. Y. Cheng
Convoy Global Holdings, one of Hong Kong s largest pension advisers, saw a dramatic twist in its boardroom tussle when a breakaway caucus of shareholders voted in six directors nominated by the second-largest shareholder to challenge the incumbent board.
The rebels, led by former Secretary for Financial Services and the Treasury, Frederick Ma Si-hang, said they are backed by shareholders with a combined 53.53 per cent of Convoy s voting rights. He led a walkout by scores of investors from Convoy s head office in Wan Chai just 20 minutes into a shareholders meeting hosted by the current board on Thursday evening. ....

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