|By Marketwired .||
|February 5, 2014 05:39 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/05/14 -- Xinduo Yu, the founder, largest shareholder, director and former President and Chief Executive Officer of Hanfeng Evergreen Inc. ("Hanfeng"), today announced that he has filed and mailed to Hanfeng's shareholders a dissident proxy circular dated February 1, 2014 to solicit support for his proposed slate of five directors nominated for election at Hanfeng's annual general and special meeting scheduled for February 28, 2014 (the "Meeting").
Mr. Yu's proposed slate is comprised of himself and the following independent nominees: Anthony W. Chang, Joanne Yan, Jonathan Pollack and Yuanhui Tang. The biography of each nominee is set out below. In addition, Mr. Yu is soliciting support to set the number of directors at five, to re-appoint KPMG LLP as auditor of Hanfeng and to ratify and confirm the advance notice by-law adopted by Hanfeng's current board.
Hanfeng is required to set a time and place for the Meeting by filing and mailing to its shareholders a notice, which it has yet to do. If Hanfeng does not file and mail such notice, Mr. Yu will notify Shareholders of a time and location for the Meeting by press release.
Mr. Yu has serious concerns with the governance practices currently being employed by Hanfeng including the ability of the current board of directors to properly supervise Hanfeng and its overseas operation. This, together with the decision of the Toronto Stock Exchange on January 15, 2014 to suspend trading in Hanfeng's shares pending clarification of Hanfeng's affairs, has led Mr. Yu to conclude that the board of directors needs to be reconstituted. To this end, Mr. Yu has put forward his proposed slate of directors who have demonstrated prior experience with Canadian listed companies, with doing business in China and with Hanfeng. Mr. Yu believes that these nominees are exceptionally well-suited to lead Hanfeng through its current troubles and address the concerns raised by the regulators in China and Canada.
"With these directors in place, Hanfeng will move to a better and more prosperous course, guided by best practices of corporate governance and professional business oversight," said Mr. Yu.
The proxy circular filed and mailed by Mr. Yu will be available under Hanfeng's profile on SEDAR at www.sedar.com.
Shareholders voting by proxy are urged to vote the GREEN proxy FOR all four resolutions no later than 5 pm (Toronto time) on February 25, 2014.
Biographical information for Mr. Yu's proposed slate of directors
Anthony W. Chang is the Managing Director of Inter-Asia Venture Management Group, a leading direct investment and advisory firm based in Hong Kong with a 40 year history of building successful companies in Asia with a principal focus in China. For over 15 years, Mr. Chang has had a successful track record in investing and managing high growth companies with cross border structuring and executing business strategies for their operations in China, Japan, US and Canada. Previously, he was the Asia Pacific Regional President and Chief Executive Officer of Sunbeam Corporation (a NYSE listed company at that time), Commercial Director of Peninsula Hotel Group (a HKSE listed company), International Director and US President of Swank International Manufacturing Co. Ltd. (a HKSE listed company at that time). He has also held senior executive and Chief Financial Officer positions in Canada with the subsidiaries of Imasco Limited (now Imperial Tobacco Canada Limited, a TSX listed company), Labatt Brewing Company Ltd. and Tim Horton's Inc. (prior to its initial public offering). Mr. Chang received his graduate degree from the University of Waterloo and is a C.P.A.
Joanne Yan has more than 15 years of experience in advising and managing public companies and has played a significant role in the financing and business development strategies of several North American and China-based companies. Ms. Yan is currently the President of Joyco Consulting Services Inc., a consulting firm, a position which she has held since September 1994. From June 2006 to November 2013, she served as the President and a director of Brazilian Gold Corporation (formerly Red Dragon Resources Corp.), a TSX Venture Exchange listed company that was involved in gold exploration and development in Brazil. From June 2006 until May 2010, Ms. Yan was the President of JYW Capital Corp., a capital pool company. Ms. Yan was formerly a director of Hanfeng, from June 2004 to August 2013, where she was a member of and then chaired the Compensation Committee (from June 2004 to end of 2012). She is currently the lead director and a member of the Audit Committee and Compensation Committee for Hanwei Energy Services Corp., a TSX listed company in the business of engineering and manufacturing fibreglass reinforced plastic pipe for the oil & gas industry; a director and member of the Audit Committee and Compensation Committee of Grande West Transportation Group Inc., a TSX Venture Exchange listed company in the business of design, manufacture and service of high quality affordable fuel efficient mini buses; and a director of Archer Petroleum Corp., a TSX Venture Exchange listed company in the oil sands business.
Jonathan Pollack is the President of The JMP Group, a strategic advisory and consulting company, a position which he has held since 2000. From August 2009 until January 2011, he served as the Executive Vice-President of API Technologies Corp. (a NASDAQ listed company), a company which designs, develops and manufactures electronics systems and communication products, and also served as the company's director from June 2007 until January 2011. From March 2005 until its sale in June 2009, he was the Chief Financial Officer and Corporate Secretary of Kaboose Inc. (a TSX listed company at that time), a media company focused on developing content and applications to help parents plan for family life. Prior thereto, he worked in investment banking in New York. Mr. Pollack was a director of Hanfeng from November 2010 through February 2013, where he served on the Audit Committee and the Compensation Committee. He was also formerly a director of Lifebank Corp. from 2003 to 2012, where he served on the Audit Committee and Compensation Committee and is currently a director of CECO Environmental Corp. (a NASDAQ listed company), a leading global environmental technology company focused on critical solutions in the product recovery, air pollution control, fluid handling and filtration segments. Mr. Pollack received a M.Sc. in Finance from the London School of Economics and a B.Com. from McGill University. He sits on the boards of several philanthropic organizations including the Mt. Sinai Hospital Foundation, the Crescent School Foundation, and the Sterling Hall School.
Xinduo Yu is the founder and owns or controls greater than 20% of the Shares of Hanfeng Evergreen Inc., making him its largest Shareholder. Mr. Yu served as Hanfeng's President and CEO from its inception in June 2003 to January 8, 2014, as a member of the Compensation Committee from June 2003 to August 2006, as its Chairman from November 2004 to March 2006, and has served as a director of Hanfeng since June 2003, a position which he continues to hold. Mr. Yu has experience in building early stage businesses. From 1989 to 1992, he served as director of Dalian Office, Shangzhi City Government, Heilongjiang Province where he assisted government and private entities in promoting business in the city of Dalian. Prior to that, Mr. Yu served as the Head of Shangzhi Transportation Bureau where he governed urban traffic control, road construction and maintenance and supervised senior management and fulfilled central government policies and regulations. He served as Chairman of the board of Yalian Steel Corporation until May 2009, and has been a director of Yalian Steel Corporation since December 2008. Mr. Yu served as an independent director of Hanwei Energy Services Corp. from November 2005 to May 2008.
Yuanhui Tang has over ten years of experience with public market compliance and disclosure, listing products, and services experience in both Chinese and overseas capital markets through international joint works and cooperation. Ms. Tang currently serves as an exchanged cadre from the Shanghai Stock Exchange at the china securities regulatory commission, where she has spent three years drafting regulations and rules on Chinese capital market and monitoring, managing and mitigating public market risk. Prior to that, Ms. Tang spent five years with China's major stock exchange, where she was responsible for the supervision of innovative financial products, rules drafting and implementation on the public market and listed companies' supervision. Prior to that, Ms. Tang spent four years with the investment banking division at The Industrial and Commercial Bank of China where she led a wide range of fund raising projects in various sectors totalling US$ 6 billion. Ms. Tang holds a M.Sc. in International Securities Investment and Banking from the University of Reading of the United Kingdom. She obtained her PhD in Finance from the Northeast University of Finance and Economics of China.
If you experience any problems or require assistance voting your green form of proxy, please contact the proxy solicitor, Kingsdale Shareholder Services Inc., at 1-800-749-9052 toll-free in North America, or at 1-416-867-2272 outside of North America, or by email at: [email protected].
Kingsdale Communications Inc.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI In...
Jul. 6, 2015 09:00 PM EDT Reads: 1,101
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Jul. 6, 2015 07:45 PM EDT Reads: 1,572
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Jul. 6, 2015 07:45 PM EDT Reads: 1,849
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Jul. 6, 2015 07:00 PM EDT Reads: 1,053
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
Jul. 6, 2015 06:15 PM EDT Reads: 1,936
SYS-CON Media announced today that CloudBees, the Jenkins Enterprise company, has launched ad campaigns on SYS-CON's DevOps Journal. CloudBees' campaigns focus on the business value of Continuous Delivery and how it has been recognized as a game changer for IT and is now a top priority for organizations, and the best ways to optimize Jenkins to ensure your continuous integration environment is optimally configured.
Jul. 6, 2015 05:30 PM EDT Reads: 1,079
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
Jul. 6, 2015 05:00 PM EDT Reads: 2,149
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
Jul. 6, 2015 05:00 PM EDT Reads: 1,939
"In the IoT space we are helping customers, mostly enterprises and industry verticals where time-to-value is critical, and we help them with the ability to do faster insights and actions using our platform so they can transform their business operations," explained Venkat Eswara, VP of Marketing at Vitria, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 6, 2015 04:30 PM EDT Reads: 624
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgenthal...
Jul. 6, 2015 04:15 PM EDT Reads: 1,550
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
Jul. 6, 2015 03:45 PM EDT Reads: 1,749
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 6, 2015 03:00 PM EDT Reads: 1,793
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jul. 6, 2015 03:00 PM EDT Reads: 3,038
"The idea of polyglot persistence is you have to apply the right database for the job - you always have to have many different databases in play. We offer that whole system as a service," explained Raj Singh, Developer Advocate for IBM Cloud Data Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 6, 2015 03:00 PM EDT Reads: 876
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achie...
Jul. 6, 2015 03:00 PM EDT Reads: 1,807