Information  X 
Enter a valid email address

Star Phoenix Group (STA)

  Print   

Friday 11 December, 2020

Star Phoenix Group

Result of AGM

RNS Number : 3524I
Star Phoenix Group Ltd
11 December 2020
 

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

 

11 December 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

 

RESULT OF ANNUAL GENERAL MEETING

The Board of Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, announces that at its Annual General Meeting held in Australia earlier today results of the votes were as follows:

Resolution 1: Re-election of Director - Mr Zhiwei Gu - carried;

Resolution 2: Election of Director - Dr YuFeng Meng - lost;

Resolution 3: Issue of Shares to a related party in lieu of fees to Mr Lubing Liu - carried; and

Resolution 4: Issue of Shares to a related party in lieu of fees to Mr Zhiwei Gu - carried.

 

Based on the results of the shareholders' votes, Dr YuFeng Meng, a nominee of shareholder Beijing Sibo Investment Management LP will cease to be a Director of the Company with immediate effect. The Company will also proceed with the issue of shares to Executive Directors Mr Liu and Mr Gu in lieu of the accrued salaries, in order to preserve cash resources of the Company and to further align the interests of the Directors with the interests of shareholders. The shares to Directors will be issued on 4 January 2021. Full details relating to the issue of shares to Directors are available in the Notice of Meeting published on 13 November 2020. The Company will make a further announcement once the shares have been issued.

Disclosure of Proxy Votes:

Resolution

For

For

Against

Against

Abstain

No. of shares

%

No. of shares

%

No. of shares

1

Re-election of Director - Mr Zhiwei Gu

90,809,824

99.98

22,060

0.02

3,079

 

2

Election of Director - Dr YuFeng Meng

42,001,254

46.30

48,711,601

53.70

122,108

 

3

Issue of Shares to a related party in lieu of fees - Mr Lubing Liu

48,820,236

53.82

41,889,386

46.18

125,341

 

4

Issue of Shares to a related party in lieu of fees - Mr Zhiwei Gu

48,796,837

53.81

41,891,941

46.19

125,351

 

A vote "abstain" is not counted in the calculation of the percentage of shares voted "For" or "Against".

This announcement has been approved by Chairman Zhiwei (Kerry) Gu on behalf of the Company.

 

Contact Details

 


Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary)

e. [email protected]

t.   +44 (0)20 3865 8430

WH Ireland Limited (Nominated Adviser and Broker)

James Joyce / Matthew Chan

t.   +44 (0)20 7220 1666

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RAGUAVVRRNUUARA

a d v e r t i s e m e n t