ReneSola Power Announces Results of Annual General Meeting

Rhea-AI Summary

ReneSola Ltd (NYSE: SOL) announced the outcomes of its 2021 annual general meeting, which included the approval of consolidated financial statements for the year ending December 31, 2020. Shareholders re-elected directors Julia Xu and Sam Feng, and appointed Yuanyuan Ma as a new director. Additionally, the meeting approved an amendment to the 2007 Share Incentive Plan, increasing the total shares available from 22.5 million to 42.5 million. These decisions reflect the company's commitment to growth and governance.

Positive

• Approval of consolidated financial statements indicates stability.
• Re-election of experienced directors may strengthen governance.
• Increase in shares available under the incentive plan can enhance employee motivation.

Negative

• None.

STAMFORD, Conn, Dec. 10, 2021 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully-integrated solar project developer, today announced the results of its 2021 annual general meeting of shareholders. Specifically, the Company's annual general meeting of shareholders approved the following:

1. The consolidated financial statements of the Company for the year ended December 31, 2020, together with the reports of the auditors thereon.
2. The re-election of Ms. Julia Xu and Mr. Sam (Kaiheng) Feng as directors of the Company, who are retiring by rotation and offering themselves for re-election in accordance with the Company's articles of association.
3. The appointment of Ms. Yuanyuan Ma as a director of the Company, who was originally appointed as a director by the Board of Directors in accordance with the articles of association of the Company.
4. The amendment of 2007 Share Incentive Plan (as amended and restated as of January 21, 2009, August 20, 2010, August 29, 2016 and December 21, 2020) to increase the maximum aggregate number of shares which may be issued under the 2007 Share Incentive Plan from 22,500,000 shares (equivalent to 2,250,000 American Depositary Shares) to 42,500,000 shares (equivalent to 4,250,000 American Depositary Shares).

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York. For more information, please visit www.renesolapower.com.

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SOURCE ReneSola Ltd.

FAQ

What were the results of ReneSola's annual general meeting on December 10, 2021?

ReneSola's annual general meeting approved financial statements, re-elected directors, appointed a new director, and amended the Share Incentive Plan.

How many shares can now be issued under the 2007 Share Incentive Plan following the recent amendments?

The 2007 Share Incentive Plan has been amended to allow the issuance of up to 42,500,000 shares.

Who were re-elected as directors during the ReneSola general meeting?

Julia Xu and Sam Feng were re-elected as directors during the meeting.

What financial year was reviewed at ReneSola's annual general meeting?

The consolidated financial statements for the year ended December 31, 2020, were reviewed.