PEKING (dpa-AFX) - Gushan Environmental Energy Limited (GU), a manufacturer of copper products and a producer of biodiesel in China, said Thursday that it entered into an amendment to its previously announced agreement and plan of merger with Trillion Energy Holdings Limited, Trillion Energy Investments Holdings Limited and Jianqiu Yu, the company's Chairman and Principal Executive Officer in the Extraordinary General Meeting, or EGM, held on September 20.
The company noted that, pursuant to the Amended Merger Agreement, the consideration payable to ordinary shareholders was increased to $0.165 from $0.162 per ordinary share.
Also, the required shareholder vote at the EGM for the approval and adoption of the Amended Merger Agreement was revised to require an affirmative vote of both shareholders representing two-thirds or more of the ordinary shares present and voting in person or by proxy as a single class and shareholders representing a majority of the ordinary shares present and voting in person or by proxy as a single class, excluding those shares beneficially owned by the Buyer and those shares voted at the direction of the company.
At the EGM, shareholders approved the ordinary resolution to adjourn the EGM to October 15, 2012 in order to provide ADS holders and shareholders with additional time to consider the changes to the Merger Agreement effectuated by the Amendment and to review the updated proxy materials.
However, the record date for the adjourned EGM has not changed. ADS holders of record as of August 10 and shareholders of record as of September 6 remain entitled to vote at the adjourned EGM.
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© 2012 AFX News
