34% Shares Of Modern Boulevard Are Waiting For Freezing.

On the night of September 9th, the modern Avenue (002656, SZ) issued a notice of new waiting freeze for shareholders' shares.

Because of a loan dispute, Lin Yongfei, the controlling shareholder of modern Avenue, and Limited by Share Ltd, the controlling shareholder of Guangzhou Ruifeng group (hereinafter referred to as Ruifeng group), are holding 242 million shares of the company (about 34% of the total share capital) waiting for a freeze by Yuexiu District people's court of Guangzhou.

In addition, because of the violation of the loan in the name of the listed company, the 8 party bank accounts totaling about 38 million 600 thousand yuan in cash balance and 1/10 shares in the headquarters building were frozen.

In September 10th, the East Avenue forest of the modern Avenue said in an interview with the daily economic news that the pre litigation preservation of claims to the court is unreasonable and excessive.

New waiting freeze

Lin Yongfei, a controlling shareholder of modern Avenue, has recently fallen into financial difficulties with its controlling shareholder, Ruifeng group. The case of pledge breach of contract with Fangzheng securities has not yet been concluded. There has been a dispute over loans and involved in the listed companies.

In the early August 23rd, the modern Avenue announced that the real controller Lin Yongfei, in the absence of the company's board of directors and shareholders' general meeting, agreed to make a loan of 80 million yuan for the Guangzhou Tianhe Lijia microfinance limited, a subsidiary of Ruifeng group, a subsidiary of the company. The creditor was a small reloan Limited by Share Ltd in Guangzhou.

According to morden Avenue September 9th evening announcement, because of the loan contract dispute, the small loan has already applied for property preservation to the Yuexiu District people's Court of Guangzhou. Among them, waiting for the freezing of Lin Yongfei and Ruifeng group's modern Boulevard a total of 242 million shares (about 34% of the total share capital), freezing modern Avenue 8 total of about 38 million 600 thousand yuan of bank accounts, sealing up the company's name of the state-owned land use right of the headquarters building 1/10 copies of assets.

In the frozen assets, Lin Yongfei and Ruifeng group held a share of the modern Avenue, and recently they were frozen with the pledge financing dispute of Founder Securities. In August 27th, in reply to the letter from the Shenzhen Stock Exchange, the modern Avenue said that Founder Securities had applied for enforcement and sealed up a total of 136 million shares of Lin Yongfei and its concerted operations, accounting for 19.03% of the total share capital. The company had the risk of changing the controlling shareholder and the actual controller.

In the case of bank accounts, the modern Avenue indicates that frozen bank accounts account for 1.62% of the audited net assets in the latest year, and the company can still operate all kinds of business receipts and payments through unfrozen bank accounts.

In addition, the morden Avenue headquarters building, which has been frozen by 1/10 share, is currently in the selling stage. This freeze adds some unknowns to the smooth delivery of the building.

Manager: it is unreasonable to sue for preservation.

For the shareholders' shares and assets of the company were frozen, the modern Avenue East Secret Forest state in an interview with the daily economic news reporter said that the creditor's right before the court's application for loan protection before the court was unreasonable overdue.

Lin Guo also told reporters: "as a professional financial institution, the situation of illegal guarantee of Lin Yongfei, a company's actual controller, without relevant resolutions and disclosure procedures should be informed, but accept the guarantee, which ultimately leads to damage to the interests of the company."

The independent director of the modern Avenue had already issued an independent opinion against the violation of the warranty matters. The Guangdong Regulatory Commission of the SFC also issued a warning letter to Lin Yongfei, the modern Avenue and the real controller. In addition, in order to strengthen internal control, the new seal has been launched since September 5th. At present, Lin Yongfei has resigned from the chairmanship and is cutting with the listed company.

In the announcement, the modern Avenue said that the property preservation measures taken by the court did not affect the normal operation of the company temporarily. The company could not accurately determine the impact on the company's profits. The company had commissioned a lawyer to deal with related litigation and account freeze matters, and resolutely adopted legal weapons to safeguard the rights and interests of the company and minority shareholders.

For the loan dispute property preservation amount is reasonable, the reporter called the little root loan phone, the other party said they do not know the relevant circumstances, need to wait for their advice to the relevant personnel. As of press release, the reporter did not receive further reply.