REG - Star Phoenix Group - Result of Meeting

Star PhoenixAnnouncement

25/09/2020 10:10

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. admin@starphoenixgroup.com
t.   +44 (0)20 3865 8430


WH Ireland Limited (Nominated Adviser and Broker)
James Joyce / Matthew Chan
t.   +44 (0)20 7220 1666




 

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