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This announcement is made pursuant to Rule 13.51(1) of the Rules Governing the Listing of Securities on
The board (the “Board”) of directors (the “Directors”) of
The Board believes that the Amended Articles will modernize the Company’s Articles and better align with recent legal and regulatory developments and market practices by the
The proposed amendments to the Articles of the Company are subject to the approval by the shareholders of the Company (the “Shareholders”) by way of a special resolution at the annual general meeting scheduled for
The Amended Articles are substantially similar to the current Articles of the Company but reflect a number of regulatory developments, including, but not limited to the following:
Branch Registers– the Company intends to include the expression of “the branch register of members in
Hong Kong shall be open for inspection by members but the issuer may be permitted to close the register on terms equivalent to section 632 of the Companies Ordinance.” required in the Hong Kong Listing Rules into the Amended Articles.Electronic Meetings– the Company intends to confirm the ability to hold shareholder meetings entirely by means of telephonic, electronic or other communication facilities that permit all participants to speak and communicate during the meeting. This reflects a market approach away from in person only meetings and recognizes the Company’s international shareholder base on both the TSX and the
Stock Exchange .Nominations of Directors– the Company intends to amend the timelines for nominations of directors to better conform to the
Stock Exchange shareholder meeting requirements and to ensure that the information provided by nominated directors includes information required by the Hong Kong Listing Rules.Removal of Directors– the Company intends to amend the threshold for the resolution required for shareholders to remove a director before the expiration of his or her term of office. The Amended Articles will require an ordinary resolution to remove a director rather than a special resolution.
In view of the amendments proposed to be made to the Articles, the Board proposed that the Amended Articles be adopted to immediately replace the Articles in its entirety.
A circular containing, among other things, particulars in relation to the Amended Articles together with a notice convening the Annual General Meeting will be dispatched to the shareholders of the Company in due course.
About
For further information on the Company, please refer to SEDAR’s website at www.sedar.com, The Stock Exchange of Hong Kong Limited’s website at www.hkex.com.hk, the Company's website at www.chinagoldintl.com, or call the Company at +1-604-609-0598 and email to info@chinagoldintl.com.
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