YM778.TV Chapter 562 - Contingency
Location- Sky Blossom City, Fine Gold Tower, Penthouse Office
"All done, boss. All that\'s left is signatures from you guys." Cindy had prepared the legal documents required for the share transfer and shared them with Diana.
"Cindy, your origin card doesn\'t fail to surprise me each time. Multitasking is a convenient additional skill to have." Jaya was amazed seeing Cindy prepare the documents while engaging in a heated conversation with them. She wanted a multitasking skill card too. Then she could train while goofing around in the grimoire network.
"Everything looks good. Remove the section about Wyatt agreeing to be a silent partner. Adding this part to the contract doesn\'t make us look sincere enough." With the help of a reading card, it did not take Diana long to go through the contract and verify it.
"But Wyatt himself stated that he would act as a silent partner despite being the majority stakeholder," Cindy added this section as Wyatt himself proposed it.
"It doesn\'t matter. Please remove it. Let that part be a verbal agreement. That shows that we are all in and trust him." Despite Cindy\'s protest, Diana insisted on removing that particular section from the contract.
"I thought by giving him 51% of the shares. We showed that we are all in and trust him. If you think that\'s not enough, I will do as you say." Cindy argued but still followed Diana\'s arrangement.
"And while you are at it, prepare another contract," Diana added.
"Regarding?" Cindy asked for the contract details.
"It\'s about how to split the remaining 49 % of Fine Gold shares. Divide 29% to Jaya, 10% to me, and the last 10% for you." Diana\'s words explode like a bomb in Jaya and Cindy\'s heads.
"Sister…. Why give her 10%?" Jaya immediately protested. Just as her sister\'s secretary Cindy was a lot to handle, if she were to become one of the shareholders, then there would be no end to her torment.
"..." Cindy also looked at Diana, waiting for her to answer Jaya and explain her decision.
"Cindy, though in the name you are my secretary and managing director of Fine Gold Sky blossom city branch. I know your contribution to Fine Gold\'s growth is no less than mine.
Giving Wyatt 51% of shares is equal to selling the Fine Gold. Now that we are at this point, my friend, I want to give you what you have earned and rightfully deserve." Diana\'s words sounded like bullshit in Jaya\'s ears.
"What the? Who the hell gives 10% in the name of friendship? Sister, have you gone mad? If you want to uphold your friendship, give her 1%." Jaya yelled frantically, and turning to Cindy, she added, " You bitch, what kind of lowly witchcraft did you use on my sister?"
"So you want me to become your pawn in the company board panel. Should I be adding the puppet sections into the contract?" Cindy saw right through Diana\'s bullshit.
By dividing the Fine Gold share into 51%, 29%, 10%, 10%, Diana was trying to keep the power of decision-making in Fine Gold with herself. As there are four shareholders, all decision-making would require a Board panel voting. The majority shareholders\' vote would count as two votes, and the other shareholders\' vote would cost as a single vote.
If Diana is using Cindy as a pawn to always have three votes in her pocket, Wyatt, who has majority shares with only two votes on his side, will not be able to make any decision without Diana\'s approval.
The puppet section in the contract that Cindy spoke of states that, though Cindy owned the 10% of shares, she would not be able to sell them or gain any form of a dividend from them. If she wanted to sell them, she could only sell them to Diana. These rules were to bind Cindy despite her being a shareholder.
Cindy could not sell the shares in her name to anybody but Diana, which meant that Diana could repurchase those shares from Cindy for a penny. So Cindy\'s role in the board panel was nothing but to be Diana\'s puppet. Cindy has been working for Diana for decades now and knows how Diana operates, so she did not fall for Diana\'s sweet words and saw right through them.
"Cindy, your words hurt me, but as always, you are the only one who understands me the most. You know what to do now, draft the Contract as specified." Diana knew Cindy would not fall for her false words, but her sadistic nature could not help but make an appearance.
"Yes, Boss." Cindy was no sheep. She was one of the evils in human skin that bowed to Diana\'s strength and charisma. Now that the Company was switching ownership, she had a decision to make, stay loyal to the old master or get in bed with the new.
"Phew, Sister, you scared me for a second there. But I did not expect less from you. Even though you are giving Wyatt the majority shares, you will still be consulted for any significant change in the company." Jaya was impressed by her sisters\' quick thinking. By not adding the silent partner section, her sister would gain Wyatt\'s trust, but by giving Cindy 10% conditional shares, she would still hold the decision-making power.
"This is just a contingency in case Wyatt doesn\'t plan on being the silent partner as he promised. If he holds up his end of the bargain, I will not use this trick. Let us hope that it doesn\'t come to this.
This is just the last resort. If the Southern emperor intervenes, we can do nothing. Let us hope that she will abide by the law of the Royal family, not influencing the market. Otherwise, we will be at their mercy." The reason Diana strongly believed Wyatt was the Southern emperor\'s puppet was because of this rule. Diana felt since the southern emperor couldn\'t participate directly, she was participating indirectly by using Wyatt as a puppet. If she was wrong, and Southern Emperor was not the puppeteer, she needs a contingency so that Wyatt doesn\'t do as he pleases with her company.
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