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Zhejiang Southeast Electric Power Company Limited

Announcement on 

Resolutions of the First Extraordinary General Meeting of 2009

 

1.  Convening and Attendance of the Meeting 

The First Extraordinary General Meeting of 2009 of Zhejiang Southeast Electric Power Company Limited (the 'Company') was convened on 22 June 2009 at Zheneng Building, Hangzhou (the 'Meeting').  The Company published the notice on convening the Meeting in China Securities Journal, Shanghai Securities News, South China Morning Post (Hong Kong) and Wen Wei Po (Hong Kong) on 6 June 2009.

33 shareholders or their proxies (collectively the 'shareholders') were present at the Meeting, including 5 shareholders of non-tradable shares (i.e. shareholders of domestic shares, as below) and 28 shareholders of tradable shares (i.e. shareholders of B shares, as below), who jointly hold 1,350,841,511 shares of the Company representing 67.21% of the total shares of the Company. Respectively, shareholders of domestic shares hold 1,320,000,000 shares of the Company, representing 100.00% of the domestic shares of the Company; shareholders of B shares hold 30,841,511 shares of the Company representing 4.47 % of the B shares of the Company.  The foregoing complies with the stipulations of laws, rules, regulations, and the articles of association of the Company.  Delegated by Mr. Mao Jianhong (Chairman), Mr. Shou Desheng (Director and General Manager) presided over the Meeting. 

 

2.  Voting of the Proposal

All shareholders present at the Meeting reviewed the Proposal on the Capital Increase in Jiahua Company to Invest and Construct Jiadian Phase III Project (the 'Proposal') and approved the Proposal through voting by way of open ballot:

(1) It was agreed to increase equity interest held by the Company in Zhejiang Jiahua Power Generation Co., Ltd. by no more than RMB 379.2 million according to existing shareholding percentage. The increased capital shall be used to invest and construct Zhejiang Jiaxing Power Plant Phase III 'Keeping and Promoting the Large and Holding or Closing Down the Small' Expansion Project.

(2) It was agreed to authorize the management to increase equity interest held by the Company in Zhejiang Jiahua Power Generation Co., Ltd. in several tranches within the amount of RMB 379.2 million according to project progress and resolutions of the board meetings and shareholders' meetings of Zhejiang Jiahua Power Generation Co., Ltd.

Under the condition that Zhejiang Electric Power Development Co., Ltd, the largest shareholder of the Company, abstained from the voting, consenting votes of 550,878,311 shares representing 100% of the valid voting shares (of which: 520,036,800 shares are domestic shares representing 100.00% of the valid domestic shares votes; 30,841,511 shares are B shares representing 100.00%  of the valid B shares votes); abstention vote of 0 share; dissenting vote of 0 share.

 

3.  Witness by Lawyer

Zhejiang Sunshine Law Firm has issued a legal opinion on this Meeting. Zhejiang Sunshine Law Firm is of the opinion that the convening and the convention procedure of the Meeting comply with the stipulations of the Company Law, articles of association of the Company and other regulatory documents; the qualifications of the personnel attending the Meeting are lawful and valid; the voting procedures of the Meeting comply with the stipulations of the Company Law, articles of association of the Company and other regulatory documents; the resolutions passed at the Meeting are lawful and valid.

 

4. Documents for Inspection

(1)     Resolutions of the Extraordinary General Meeting;

(2)     Legal opinion issued by the lawyer. 

      

   

                                                                                                   Board of Directors

  Zhejiang Southeast Electric Power Company Limited

                                                                                                        23 June 2009

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