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2022-01-05

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Sea Limited sets annual meeting with plan to boost class B voting power

Sea Limited has set up its annual meeting with a plan to expand voting power of its ClassB shares, c

Sea Limited sets annual meeting with plan to boost class B voting power

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And that would leave all outstanding Class B ordinary shares owned by Chairman/CEO and founder Forrest Li.</p><p>Tencent also will end the proxy by which it gave Li the voting power for its Class B shares.</p><p>Running through the math, Li&#39;s class B shares post-conversion would grant him about 57% of total voting power (up from 52% today), and Tencent&#39;s voting power is expected to be less than 10%.</p><p>The special resolution requires 75% approval from voters at the meeting.</p><p>Earlier, BofA upgraded Sea to Buy from Neutral.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited sets annual meeting with plan to boost class B voting power</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited sets annual meeting with plan to boost class B voting power\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-04 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3784750-sea-limited-sets-annual-meeting-with-plan-to-boost-class-b-voting-power><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sea Limited has set up its annual meeting with a plan to expand voting power of its ClassB shares, consolidating control with its founder, chairman and CEO.DeanDrobot/iStock via Getty ImagesAt the Feb...</p>\n\n<a href=\"https://seekingalpha.com/news/3784750-sea-limited-sets-annual-meeting-with-plan-to-boost-class-b-voting-power\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/news/3784750-sea-limited-sets-annual-meeting-with-plan-to-boost-class-b-voting-power","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141678448","content_text":"Sea Limited has set up its annual meeting with a plan to expand voting power of its ClassB shares, consolidating control with its founder, chairman and CEO.DeanDrobot/iStock via Getty ImagesAt the Feb. 14 meeting, shareholders will take up a company proposal to boost the voting power of each Class B share from three votes to 15 votes.Tencent Holdings plans to convert all of its Class B ordinary shares to Class A ordinary shares on the passing of that special resolution. And that would leave all outstanding Class B ordinary shares owned by Chairman/CEO and founder Forrest Li.Tencent also will end the proxy by which it gave Li the voting power for its Class B shares.Running through the math, Li's class B shares post-conversion would grant him about 57% of total voting power (up from 52% today), and Tencent's voting power is expected to be less than 10%.The special resolution requires 75% approval from voters at the meeting.Earlier, BofA upgraded Sea to Buy from Neutral.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1277,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}