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Name | Symbol | Market | Type |
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Barclays 27 | LSE:BQ36 | London | Medium Term Loan |
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RNS Number:0735Y Zhejiang Southeast Elec Power Co Ld 28 April 2004 Zhejiang Southeast Electric Power Company Limited Announcement on Resolutions of the Eighth Meeting of the Third Board of Directors (by way of communication) The eighth meeting of the third board of directors of Zhejiang Southeast Electric Power Company Limited ("the Company") was convened on 26th April 2004 by way of communication. Fifteen directors should be present and fifteen directors were actually present at the meeting. The supervisors of the Company attended the meeting as non-voting members. The meeting complies with the stipulations of the Company Law and the Articles of Association. The following resolutions were passed at the meeting: I. Unanimously examined and approved the First Quarterly Report of 2004 and agreed to disclose the same; II. Unanimously examined and approved the Proposal on the Amendments to the Articles of Association submitted by the Supervisory Committee and agreed that the same shall become a new proposal to be submitted to the 2003 shareholders' general meeting for examination. It is proposed that the Articles of Association shall be amended as follows: To add a new article after article 101 of the Articles of Association "Article 102 The board of directors of the Company shall follow the following procedures and principles when examining and deciding on external guarantee matters: (1) External guarantee matters of the Company shall be put forward to the board of directors after examination and investigation by the manager. Guarantee matters may only be implemented after obtaining the signatures and consents of more than two-thirds of all the members of the board of directors and important external guarantee matters may be only implemented after obtaining the approval of the shareholders' general meeting. Material external guarantee matters shall be confirmed according to the amount standard stipulated in the share listing rules of the stock exchange. (2) Except power infrastructure projects, for example electricity, the Company shall not directly or indirectly provide liability guarantees for guaranteed objects with an asset/liability ratio exceeding 70%. (3) The Company must seriously perform the information disclosure obligations for external guarantees in strict compliance with the relevant stipulations of the Share Listing Rules of the Shanghai Stock Exchange, these Articles of Association and the external information disclosure system of the Company, and provide information on all the external guarantee matters of the Company according to the facts to the external auditors appointed by the Company in accordance with the relevant stipulations. When the board of directors of the Company decides on external guarantee matters, it shall examine and investigate the following credit standards of the guaranteed persons: 1. having independent legal person status; 2. clear property right relationship; 3. no possibility of termination or bankruptcy or dissolution; 4. the financial information provided is true and complete with no material omission; 5. no overdue bank borrowings or unpaid interest; 6. no other significant risk." The contents of other articles of the Articles of Association have not been changed and the articles shall be renumbered accordingly. III. With the connected directors abstaining from voting, the non-connected directors unanimously examined and approved the Proposal on the Transfer of Shareholding in Zhejiang Fuxing Electric Power Fuel Ltd and agreed to transfer all the 5,900,000 shares of Zhejiang Fuxing Electric Power Fuel Ltd Liability Company held by the Company to Zhejiang Xingyuan Investment Ltd. For details, please refer to the Announcement on Asset Sale and Connected Transaction. Board of Directors Zhejiang Southeast Electric Power Company Limited 28th April 2003 This information is provided by RNS The company news service from the London Stock Exchange END ROMXVLBLZZBEBBZ
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