Chapter 68: Grandfather
Demetri sat at the head of the polished oak table in the dimly lit boardroom, with Ian, Gabe, and Sebastian sitting waiting for Lucien to arrive. Whatever discussion it was that Demon had called them in for was going to be a major one. They could feel it in their bones.
Demon had been prowling the top floor today and everyone had been jittery in the office building. The last time this had happened, there had been a huge change in the upper management with many being thrown either out of the office or into prison cells for stealing and misusing funds. It was also the time when Demon had just taken over his position.
Ian and Gabe, exchanged curious glances and wondered what this was about while Seb urged Lucien to hurry up. How the boy had the guts to leave the office today when everyone knew Demetri’s mood was beyond them.
Finally, the boy entered and apologized hurriedly," Sorry! I’d gone for a site inspection and it overran..."
Lucien quieted down when all his brothers cast him a glance and quickly took his seat.
D cleared his throat and pushed a set of documents across the table. He met each of his brothers’ eyes with a steely resolve. "I’ve called this meeting today to discuss a pivotal decision for our family and the future of our company. I’ve already discussed with the board, and we’re going to offer another IPO to the public."
Gabe frowned at this as he questioned," Go public again? Why now? As far as I know, we are not lacking working capital. So why the need to dilute our shares?"
"Also, the majority of the board has to agree to this decision. I am sure, Grandfather will not agree."
Demetri nodded and gestured to the files in front of him," It is all of you who need to agree. Each of you holds a percentage of shares while grandfather holds 45%. After him I am the largest shareholder with only 15%. With the other shareholder’s agreement to this proposal, a vote from the four of you will decide whether we offer another IPO or not. The capital will be used for expansion into new horizons for Frost Industries. We are looking into Retail and IT. You will find all the necessary information in the documents. Including how this will affect each of your positions in the future."
Ian pulled the files to him and passed the documents as he sent a considering look Demetri’s way. So, Demetri knew that Grandfather would oppose the IPO as it would dilute the company’s shares. And that it seemed was Demetri’s focus.