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Hanwei Energy Services Announces Results of Annual General Meeting

Hanwei Energy Services Corp.
·2 mins read

VANCOUVER, British Columbia, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Hanwei Energy Services Corp. (TSX: HE) (“Hanwei” or the “Company”), held its Annual General Meeting of Shareholders (the “Meeting”) in Vancouver, British Columbia on September 9, 2020. During the course of the Meeting, all proposed resolutions were approved including the election of directors and the re-appointment of MNP LLP, Chartered Professional Accountants as auditor for the Company. A total of 38,669,947 shares were voted in person or by proxy at the Meeting, representing 19.91% of the total outstanding common shares.

The shareholders elected Fulai Lang, Joanne Yan, Graham Kwan, Randall Smallbone, and William Paine to serve as directors of the Company. As of the close of the Meeting, the Company’s board is constituted of a majority of independent directors, namely Joanne Yan, Randall Smallbone and William Paine.

The shareholders elected each of the Company’s nominees for director as follows:

DIRECTOR

VOTES
FOR

VOTES
WITHHELD

Fulai Lang

97.49%

2.51%

Joanne Yan

100.00%

0.00%

Randall Smallbone

99.97%

0.03%

Graham Kwan

100.00%

0.00%

William Paine

100.00%

0.00%

The following individuals were re-appointed as officers of the Company: (a) Fulai Lang as Chairman of the Board, President and Chief Executive Officer, (b) Xinran (Irene) Mai as Chief Financial Officer, and (c) Graham Kwan as Executive Vice President, Strategic Development and Corporate Affairs, and Corporate Secretary.

The Board of Directors also re-appointed Joanne Yan as Lead Director and reconstituted its standing board committees. The Audit Committee is comprised of Randall Smallbone (Chair), William Paine, and Joanne Yan who are independent directors. The Compensation/Corporate Governance Committee is comprised of William Paine (Chair), Fulai Lang, Joanne Yan, and Randall Smallbone, a majority of whom are independent directors. The Disclosure Committee is comprised of Graham Kwan (Chair), Fulai Lang, and Xinran (Irene) Mai.

About Hanwei Energy Services Corp.

Hanwei Energy Services Corp.’s principal business operations are in two complementary key segments of the oil and gas industry as both an equipment supplier to the industry (as a manufacturer of high pressure, fiberglass reinforced plastic (“FRP”) pipe products serving energy customers in the global energy market) and as an oil and gas producer with properties in Alberta and joint venture interests in Manitoba.

www.hanweienergy.com

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

CONTACT: For more information, please contact: Graham Kwan Executive Vice President, Strategic Development and Corporate Affairs 604-685-2239 gkwan@hanweienergy.com Irene Mai Chief Financial Officer 604-685-2239 imai@hanweienergy.com