Exceed Company of China has once again adjourned an extraordinary shareholders' meeting to approve a merger that would transfer full ownership to its chairman and chief executive, Shuipan Lin. It is now planned for July 29 in Hong Kong, after obtaining additional financing of US$5 million. A June 26 announcement said that $5 million was going to be deposited in the parent company's account outside the People's Republic of China on the next day, and another $5 million on or about July 2.

Topics