The "Company Law" stipulated that resolutions by the Shareholders Meeting to amend the articles of association, increase or decrease registered capital, merge, split, dissolve, or change the form of the company had to be passed by shareholders representing more than two-thirds of the voting rights.
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"So, 67% is the absolute control line. If you own 67% of the shares, everything in the company is up to you!" Zhuang Qiyan explained.
Song He understood. "But I already have 40%. Others can't bypass me and obtain 67% of the shares."
"Exactly. You're above the safe control line of 34%, which gives you veto power!" Leng Xiangwen nodded.
"Besides, our Leng Family's shares will definitely stand with you. When decisions are made, you'll have 48%, already close to the relative control line of 51%."
"The 'Company Law' stipulates that resolutions passed by the Shareholders Meeting must be approved by more than half of the voting rights held by shareholders attending the meeting."
After Leng Xiangwen finished speaking, he revealed a smile that seemed to say, "You and I are on the same side."
"Our Zhuang Family's shares will definitely stand with you too. You'll have 56% in your hands," Zhuang Qiyan added. "That's already beyond the relative control line."
Song He sorted through his thoughts. "With the shares of your two families on my side, when the Shareholders Meeting is held, my opinion will amount to at least 56% of the company's opinion?"
"That's right!" the two classmates said in unison.
"Anything I don't like can be vetoed with a single vote, and anything I approve of can pass directly!" Song He said.
"That's right!"
"The only troublesome matters are those that fundamentally change the company, such as a merger or dissolution. Those require the consent of more than two-thirds