Information  X 
Enter a valid email address

Star Phoenix Group (STA)

  Print   

Friday 25 September, 2020

Star Phoenix Group

Result of Meeting

RNS Number : 1474A
Star Phoenix Group Ltd
25 September 2020
 

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

 

25 September 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 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, is pleased to advise that following the Extraordinary General Meeting held earlier today only one of the resolutions relating to the removal of Dr YuFeng Meng as a Director was duly passed. Dr Meng is a nominee of shareholder Beijing Sibo Investment Management LP ("Sibo") and was appointed as a Non-Independent Non-Executive Director pursuant to Sibo's contractual right to appoint up to three Non-Executive Directors while it holds at least 10% shareholding in the Company, subject to compliance with the AIM rules and approval of the Company's Nomad.

All other resolutions relating to the proposed Board changes were lost, therefore there will be no other immediate changes to the composition of the Board.

The Directors wish to thank Shareholders for their continued support and for voting against of what appears to be an opportunistic move by one shareholder to take control of the Company. The Directors look forward to continuing with their efforts to grow the business and deliver value for all shareholders without any further distraction. 

Disclosure of proxy votes is available in Appendix A included with this announcement.

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

 

Appendix A - Disclosure of Proxy Votes

The following information is provided in accordance with section 251AA of the Corporations Act 2001.

 

INSTRUCTIONS GIVEN TO VALIDLY APPOINTED PROXIES (AS AT PROXY CLOSE)

NUMBER OF VOTES CAST AT THE POLL (WHERE APPLICABLE)

RESOLUTION RESULT

Resolution

For

Against

Proxy's Discretion

Abstain

For

Against

Abstain

Carried / Not Carried

1. Removal of Director - Dr. YuFeng Meng

46,642,347

52.54%

41,917,107 

47.21%

224,090

0.25%

17,211

 

46,880,723

52.79%

41,917,107

47.21%

17,211

 

Carried

2. Election of Director - Dr. Yang Chong Yi

42,110,953

47.50%

46,328,501

52.25%

224,090

0.25%

137,211

 

42,110,953

47.49%

46,566,877

52.51%

137,211

 

Not Carried

3. Election of Director - Mr. Paul Norris

24,854,121

28.04%

63,580,513

71.71%

222,790

0.25%

143,331

 

24,854,121

28.10%

63,817,589

71.90%

143,331

 

Not Carried

4. Election of Director - Mr. Omar Stanford IV

24,842,617

28.02%

63,590,717

71.73%

224,090

0.25%

143,331

 

24,842,617

28.02%

63,829,093

71.98%

143,331

 

Not Carried

5. Election of Director - Mr. Li Jun

24,711,347

27.88%

63,721,907

71.87%

224,090

0.25%

143,411

 

24,711,347

27.87%

63,960,283

72.13%

143,411

 

Not Carried

6. Removal of Director - Mr. Zhiwei (Kerry) Gu

24,958,405

28.12%

63,594,929

71.63%

224,090

0.25%

23,331

 

24,958,405

28.11%

63,833,305

71.89%

23,331

 

Not Carried

7. Removal of Director - Mr. Lubing Liu

42,357,355

47.71%

46,195,979

52.04%

224,090

0.25%

23,331

 

42,357,355

47.70%

46,434,355

52.30%

23,331

 

Not Carried

 

 

 

Contact Details

 

 

 

Star Phoenix Group Ltd

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
 
 
ROMKELBLBKLBBBV

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