Report from Extraordinary General Meeting in Interfox Resources AB (publ)
The shareholders of Interfox Resources AB (publ) have on 21 October, 2015 convened for an Extraordinary General Meeting (“EGM”) in Stockholm, where the following decisions were taken.
The EGM decided to elect Charles Liu to the Board of Directors. After the EGM, the Board consists of Max Renard, Anders Thorsell, Jonathan Collins and Charles Liu. At the Board meeting following the EGM, the Board re-elected Max Renard as Chairman of the Company and elected Charles Liu as vice Chairman.
Mr. Liu Yang Sheng (Charles Liu) is the founder of HAO Capital, a private equity firm investing in growth companies in China with USD 980 million under management. Mr. Liu also served on the Board of Directors of Applied Materials Inc., one of the first Chinese nationals to serve on the Board of Directors of a Fortune 500 company, and chaired its Investment Committee, which led over USD 1 billion in acquisitions. Born in Taiwan, Mr. Liu graduated from Princeton University with a B.A in Economics in 1972 and attended the Juris Doctor Program of New York University School of Law. He relinquished his Taiwan passport and U.S. Permanent Residency in 1975 to adopt the nationality and passport of the People’s Republic of China. Prior to forming HAO Capital, Mr. Liu was the Head of China of Lazard Asia from 1992-1999. From 1975 to 1991, he served in various capacities in the United Nations system of organizations, principally as negotiation secretary on economic matters and development projects in the developing countries.
He holds 300 000 shares in the Company since February 2014.
The EGM furthermore decided to complete a directed share issue, with deviation from the shareholder’s pre-emptive rights. The right to subscribe for the shares is given to the Far East and Pacific Investments Inc. (”FEPI”) in accordance with the agreement concluded between the company and FEPI in November 2013 regarding the acquisition of Mezhlisa Resources Cyprus Ltd (”Mezhlisa”). Payment for the shares shall be made by offset of the debt to FEPI of SEK 7 829 417.60 which is an additional payment to FEPI for the acquisition. The issued amount of shares is 2 446 693, at a subscription price of SEK 3.20 whereby the share capital is increased with SEK 2 446 693. After registration of the share issue, the total number of shares in the Company will be 53 809 331.
The decisions were unanimous.
Under the EGM item ”Miscellaneous Questions” the Board member Anders Thorsell informed that the negotiations with the Asian investors are proceeding according to plan and the expectations of the Company, and that Mr. Liu will join the negotiations with immediate effect, starting already the coming Friday.
Other information
Full details of each proposal for decision can be found in the summons to the EGM and the full proposals for decisions that can be found on the company web page. The EGM decided in line with the proposals from the Board.
Interfox Resources AB (publ)
Board of Directors
For further information, please contact:
Anders Thorsell, Board Member
Mobile phone: +46 70 773 20 45
Email: anders@interfox.com
Facts about Interfox Resources AB (publ)
Interfox Resources is a Swedish exploration company with focus on exploration for oil and gas in Russia. In Russia, the company controls one combined exploration and production license in the Tomsk region of Western Siberia, the 71-1 “Elley-Igayskoye”. The company is about to conduct a work program with the purpose of converting resources to reserves.
The Interfox Resources share is traded at Aktietorget under the short name IFOX.