China Energy Engineering to amend charter, dissolve supervisory board

China Energy Engineering Corporation Limited announced proposed amendments to its Articles of Association, including the dissolution of the Board of Supervisors. This move is driven by the need to comply with the Company Law of the People's Republic of China (2023 Revision), central enterprise guidelines, and other regulatory documents. All supervisor positions will be automatically removed.

The dissolution of the Board of Supervisors will lead to its duties being absorbed by a renamed "audit and risk committee" under the Board of Directors, necessitating further amendments to the committee's terms of reference. The proposed changes also address share repurchase mechanisms, financial assistance, and the composition and powers of the board of directors.

These extensive amendments, including changes to the Rules of Procedures for General Meetings and Board Meetings, require approval by shareholders through a special resolution at a general meeting, an A shareholders’ class meeting, and an H shareholders’ class meeting. A circular detailing these proposals will be dispatched to shareholders in due course.