Subject: BOARD OF DIRECTORS
Hanwei Energy Services Announces Results of Annual General Meeting
VANCOUVER, British Columbia, Sept. 19, 2018 (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 18, 2018. During the course of the Meeting, all proposed resolutions were approved including the election of directors and re-appointment of MNP LLP, Chartered Professional Accountants as auditor of the Company. A total of 38,690,652 shares were voted in person or by proxy at the Meeting, representing 19.92% of the total outstanding common shares.
The shareholders re-elected Fulai Lang, Joanne Yan, Graham Kwan, Malcolm Clay, and William Paine to serve as directors of the Company. Mr. Randall Smallbone did not stand for re-election as a director of the Company. The board would like to sincerely thank Mr. Smallbone for his contribution to the Company and wish him well in his future endeavors. As of the close of the Meeting, the Company's board is constituted of a majority of independent directors, namely Joanne Yan, Malcolm Clay, and William Paine.
The shareholders elected each of the Company's nominees for director as follows:
| DIRECTOR | VOTES FOR | VOTES WITHHELD | ||
| Fulai Lang | 99.67 | % | 0.33 | % |
| Joanne Yan | 99.71 | % | 0.29 | % |
| Malcolm Clay | 99.99 | % | 0.01 | % |
| Graham Kwan | 99.99 | % | 0.01 | % |
| William Paine | 99.99 | % | 0.01 | % |
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, (c) Graham Kwan as Executive Vice President, Strategic Development and Corporate Affairs, and Corporate Secretary, and (d) Hui Ping (Patrick) Hu, Chief Operating Officer.
The Board of Directors also re-appointed Joanne Yan as Lead Director and reconstituted its standing board committees. The Audit Committee is comprised of Malcolm Clay (Chair), William Paine, and Joanne Yan, who are each independent directors. The Compensation/Corporate Governance Committee is comprised of William Paine (Chair), Fulai Lang, Joanne Yan, and Malcolm Clay, 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 leading manufacturer of high pressure, fiberglass reinforced plastic ("FRP") pipe products and associated technologies serving major energy customers in the global energy market) and as oil and gas producer with properties in Alberta and joint venture interests in Manitoba.
For more information, please contact:
Graham Kwan
Executive Vice President, Strategic Development and Corporate Affairs
604-685-2239
[email protected]
Irene Mai
Chief Financial Officer
604-685-2239
[email protected]
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.
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