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SHANGHAI - China Pacific Insurance (Group) Co., Ltd. (CPIC) shareholders approved all proposed resolutions during Friday’s Extraordinary General Meeting (EGM), including the dissolution of the Board of Supervisors and amendments to company governance documents.
The meeting, chaired by Board Chairman FU Fan, saw attendance from 896 shareholders representing approximately 62.2% of the company’s voting shares. Shareholders overwhelmingly supported the dissolution of the Board of Supervisors with 99.95% approval.
Key governance changes included amendments to the Articles of Association, which passed with 89.01% of votes in favor. Procedural rules for Shareholders’ Meetings and the Board received near-unanimous approval at 99.99% each.
Shareholders also elected two new directors to the company’s tenth Board of Directors. Ms. WANG Yuhua was approved as a non-executive director with 97.87% support, while Mr. WONG Hin Wing received 94.25% approval as an independent non-executive director.
According to the company, the governance changes and board appointments remain subject to regulatory approval before taking effect. The dissolution of the Board of Supervisors will become effective once regulators approve the amendments to the Articles of Association.
CPIC is a joint stock company established under Chinese law with its registered office in Shanghai’s Huangpu District. The company had issued 6,845,041,455 A shares and 2,775,300,000 H shares as of the meeting date.
This article is based on a press release statement from China Pacific Insurance (Group) Co., Ltd.
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