Pingtan Marine Enterprise Announces Results of Annual General Meeting

Rhea-AI Summary

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced the successful adoption of all proposed resolutions during its annual general meeting held on December 14, 2022, in Fuzhou, China. Key resolutions included the appointment of directors, ratification of Wei, Wei & Co, LLP as the independent accounting firm for the fiscal year ending December 31, 2022, and an increase in authorized share capital. These approvals are crucial for the company's corporate governance and financial structuring moving forward.

Positive

• Successful adoption of all proposed resolutions enhances corporate governance.
• Appointment of Wei, Wei & Co, LLP as independent auditor may improve financial oversight.
• Increase in authorized share capital provides more flexibility for future growth.

Negative

• None.

FUZHOU, China, Dec. 22, 2022  /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the "Company"), a fishing company based in the People's Republic of China, today announced that each of the proposed resolutions submitted for shareholders' approval (the "Proposed Resolutions") as set forth in the notice of annual general meeting and the proxy statement dated October 28, 2022 (the "Notice and Proxy Statement") has been duly adopted at its annual general meeting of shareholders held in Fuzhou, China on December 14, 2022.

After the adoption of the Proposed Resolutions, all corporate authorizations and actions contemplated thereunder were approved, include (1) the appointment of directors, (2) the ratification of appointment of Wei, Wei &Co, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022, (3) the Increase of Authorized Share Capital and Re-designation (as defined in the Notice and Proxy Statement), and (4) the adoption of the Second Amended and Restated Memorandum and Articles of Association.

About Pingtan

Pingtan is a fishing company primarily engaging in ocean fishing through an operating subsidiary based in the PRC. Pingtanconducts marine fishing operations in international with owned or licensed vessels.

CONTACT:

LiMing Yung (Michael)
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
michaelyung@ptmarine.net
ir@ptmarine.net

INVESTOR RELATIONS
PureRock Communications Limited
PTmarine@pure-rock.com

View original content:https://www.prnewswire.com/news-releases/pingtan-marine-enterprise-announces-results-of-annual-general-meeting-301709006.html

SOURCE Pingtan Marine Enterprise Ltd.

FAQ

What resolutions were adopted at Pingtan Marine Enterprise's annual general meeting on December 14, 2022?

All proposed resolutions, including the appointment of directors and increase of authorized share capital, were adopted.

Who was appointed as the independent auditor for Pingtan Marine Enterprise for the fiscal year 2022?

Wei, Wei & Co, LLP was ratified as the independent registered public accounting firm.

What does the increase in authorized share capital for PME mean?

The increase in authorized share capital provides the company with flexibility for future financial activities.