The board of directors of China Vanke Co agreed to reject a proposal for an interim board of directors' meeting from Baoneng Group's units, the company said on Sunday.
Shenzhen Jushenghua Co and Foresea Life Insurance Co, two units of Baoneng and also shareholders of Vanke, sought to hold the second interim board meeting of this year. But that move was rejected by Vanke's board on Friday, according to the company's filing released on Sunday night.
The two shareholders have proposed the dismissal of 12 company executives, including Chairman Wang Shi, according to a separate filing published on June 27.
