Date
11 December 2017
Through a wholly owned company, Victor Gao Zhikai asked Huanxi Media Group to issue replacement share certificates. Photo: YouTube
Through a wholly owned company, Victor Gao Zhikai asked Huanxi Media Group to issue replacement share certificates. Photo: YouTube

Deng’s ex-interpreter loses HK$87 mln in share certificates

On paper, he must have been an excellent interpreter and lawyer. But in a newspaper advertisement, he seemed to be an absent-minded person.

According to the advertisement, Huanxi Media Group non-executive director Victor Gao Zhikai lost share certificates worth HK$87 million.

In a voluntary announcement, Huanxi said it had received a request from Dayunmony Investment Corp., a company controlled and wholly owned by Gao, to issue replacement share certificates in respect of approximately 46 million shares in the company.

Gao, a lawyer who was an English interpreter for Chinese paramount leader Deng Xiaoping in the 1980s and worked in United Nations Secretariat, has stated that the original share certificates have been lost or been misplaced.

It made people wonder how someone like Gao could lose such a valuable paper asset. Presumably, he is not a client of the Central Clearing and Settlement System and does not trust financial institutions like banks, which may charge him a hefty annual fee for safeguarding the paper.

Two years ago, Gao was part of a group led by Reorient Group, ChinaVision Media Group chairman and former Ali Pictures chairman Dong Ping that took over property agency 21 Holdings.

The Sino-Europe United Investment Corp. vice chairman took a nearly 2 per cent stake at that time for HK$18.47 million.

Shares of Huanxi Media closed at HK$1.90, which made Gao’s stake worth about HK$87.7 million at yesterday’s price.

Gao, a former company secretary and general counsel of CNOOC International, the holding company of blue chip CNOOC, is also a non-executive director of Baytacare Pharmaceutical and E-Commodities Holdings.

Losing important papers like a birth or marriage certificate is common and but rarely stock certificates, especially for someone like Gao.

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BK/RA

EJ Insight writer

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