ReneSola Power Announces Results of Annual General Meeting

Rhea-AI Summary

ReneSola Ltd (NYSE: SOL) held its 2022 annual general meeting, where shareholders approved critical company measures.

These included the adoption of financial statements for the year ending December 31, 2021, and the re-election of Martin Bloom as a director.

Additionally, three new directors, Yumin Liu, Himanshu Harshad Shah, and Ramnath Iyer, were appointed. A significant amendment to the Company's articles of association was made, establishing federal district courts in the United States as the exclusive forum for securities law claims.

Positive

• Approval of financial statements for 2021 reflects transparency.
• Re-election of Martin Bloom could ensure continuity in leadership.
• Appointment of three experienced directors may strengthen the board.

Negative

• The amendment to the articles of association may limit shareholder legal options.

STAMFORD, Conn., Dec. 9, 2022 /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 2022 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, 2021, together with the reports of the auditors thereon.
2. The re-election of Mr. Martin Bloom as director of the Company, who is retiring by rotation and offering himself for re-election in accordance with the Company's articles of association.
3. The appointment of Mr. Yumin Liu, Mr. Himanshu Harshad Shah and Mr. Ramnath Iyer as  directors of the Company, who were originally appointed as a director by the Board of Directors in accordance with the articles of association of the Company.
4. The amendment and restatement of the Company's articles of association in order to insert the following provision as a new Regulation 28:
   "28.                          FORUM
   In any action asserting a claim against the Company or any current or former director, officer, other employee, agent or shareholder of the Company arising under federal securities laws, including the United States Securities Act of 1933, as amended, the federal district courts of the United States of America shall, to the fullest extent permitted by law, be the sole and exclusive forum."

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer, owner, and operator with a robust pipeline of projects and IPP assets across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries, ReneSola Power is spread across markets that are experiencing rapid growth in solar thanks to clean energy demand and supportive government policies. For more information, please visit www.renesolapower.com.

 

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SOURCE ReneSola Ltd.

FAQ

What were the key decisions at the ReneSola Power 2022 annual general meeting?

Key decisions included the approval of financial statements for 2021, the re-election of Martin Bloom, and the appointment of three new directors.

Who were appointed as directors during ReneSola's 2022 annual general meeting?

Yumin Liu, Himanshu Harshad Shah, and Ramnath Iyer were appointed as directors.

What is the significance of the amendment to the articles of association for ReneSola Power?

The amendment establishes federal district courts in the U.S. as the exclusive forum for securities law claims against the Company.

When was ReneSola Power's annual general meeting held?

The annual general meeting was held on December 9, 2022.

What is the stock symbol for ReneSola Power?

The stock symbol for ReneSola Power is SOL.