Honghua Group Limited held an extraordinary general meeting in Chengdu
soruce：manager click：5384 time：2010-12-23
At December 23, 2010, Honghua Group Limited (“the Company”) held an extraordinary general meeting (EGM) in Chengdu, to vote on and prove resolutions regarding Continuing Connected Transactions with Nabors Industries Limited dated as November 19, 2010. The Continuing Connected Transactions comprise transactions carried out by the Company with the Nabors Industries Limited pursuant to the Renewal Sale Framework Agreement and the Renewal Purchase Framework Agreement. According to the agreements, the proposed annual caps under the Renewal Sales Framework Agreement of the Products and the Services shall not exceed US$300 million for each of the three years ending December 31, 2011, December 31, 2012, December 31, 2013 respectively. The proposed annual caps under the Renewal Purchase Framework Agreement of the Products and the Services shall not exceed US$40 million for each of the three years ending December 31, 2011, December 31, 2012, December 31, 2013 respectively.
The Company’s Hong Kong branch share registrar, Computershare Hong Kong Investors Services Limited acted as the scrutineer for the vote-taking at the EGM. The Board is pleased to announce that 100% of the votes were cast in favor of the Resolutions, and the Resolutions were duly passed as ordinary resolutions by way of poll at the EGM.