SEP Turkish Subsidiary Holds Shareholders' Meeting, Board Meeting

On July 3, 2017, EMBA Electricity Production Inc. (EMBA), SEP's Turkish subsidiary, held the shareholders' meeting at its office in Istanbul. SEP Chairman Wang Yundan, Deputy President Huang Chen, General Manager of AVIC International Project Engineering Company Zhang Yan, and Turkish shareholder Mete Bulgun attended the meeting as shareholders' representatives. The meeting reviewed and approved the Board of Directors Work Report of 2016 and the Annual Financial Report of 2016, and voted on the new board members.



The shareholders' meeting agreed on a number of matters for the second half of 2017 including accelerating the improvement of EMBA's corporate governance, focusing on pushing forward the signing of EPC contract and financing agreement, conducting the tender for field-leveling, dock and main construction, and realizing financial close and field-leveling work commencement as soon as possible.


In the afternoon, EMBA held the board meeting, which elected Huang Chen as the new chairman and Wu Ming as the executive director of EMBA, and also agreed on the EPC contract in principle.


The leaders of SEP Policy and Legal Affairs Department and International Business Department and the personnel of related companies participated in the above meetings.

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