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LDK shareholders adopt report, re-elect directors, up share capital
By Caroline Salls
Pittsburgh, Jan. 22 – LDK Solar Co., Ltd. shareholders approved adoption of the company’s 2013 annual report and the confirmation and re-election of three directors at an extraordinary general meeting held Thursday, according to a news release.
The directors re-elected at the meeting were independent directors Maurice Wai-fung Ngai and Ceng Wang and non-executive director Shi Chen. The company said the total number of members of its board of directors remains at seven.
In addition, KPMG was re-appointed as LDK Solar's outside auditor for fiscal year 2014, and the company’s memorandum of association was amended to increase its authorized share capital to $500 million.
On the record date set for Thursday’s meeting, there were a total of 235.52 million shares of LDK Solar issued and outstanding. The company said a total of 114.68 million shares were represented in person or by proxy at the meeting, including underlying American depositary shares.
The adoption of the 2013 annual report was approved by holders of 114.33 million shares; the confirmation and re-election of Maurice Wai-fung Ngai as an independent director by holders of 114.09 million shares; the confirmation and re-election of Ceng Wang as an independent director by holders of 114.09 million shares; the confirmation and re-election of Shi Chen as a non-executive director by holders of 114.07 million shares; and the re-appointment of KPMG by holders of 114.37 million shares.
The amendment to the memorandum of association was approved by holders of 114.15 million shares in a special resolution, according to the release.
LDK Solar is a manufacturer of photovoltaic products and is based in Xinyu City, China. The company made a Chapter 15 bankruptcy filing on Oct. 21 under case number 14-12387. LDK’s U.S. subsidiaries’ Chapter 11 case number is 14-12384.
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